One of the most vital aspects of this recent marketing concept which every business owner should be aware of is that it’s completely free. With the right idea, intuition and planning; viral marketing on social networking websites can return thousands of client prospects to any business website.
Social networking website, as the name suggests, are networks of people and friends who use the Internet to communicate, socialise and share, all through one website. Common websites of this nature are Myspace, Facebook, Bebo and many others.
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If you’re not using Viral Marketing in your arsenal of promotional tools, then you are missing out on one of the most powerful and effective means of driving extra traffic to your website.

1. Cost Effective

Viral marketing is one of the most cost effective means of advertising your business. Since other people spread your advertising message along, it cost’s you practically nothing.

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I wrote about viral marketing nearly three years ago, a marketing approach that is particularly relevant in today’s economic climate.

Today’s Financial Times has a report entitled “Marketing’s new vein”, a word play on a vampire themed viral marketing initiative to introduce Bloodcopy, a new blog from Gawker, a network “that already includes technology, lifestyle and gossip sites such as Gizmodo, Lifehacker and Jezebel”.

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If you are active in social media, especially Twitter, Facebook and YouTube, then you have seen the impact of viral marketing.

While it can be very powerful, it’s not easy to create a viral marketing campaign, unless you have tens of thousands of followers on Twitter, hundreds of friends on Facebook, lots of subscribers on YouTube, and a large and responsive e-mail list. Oh, and a message that gets others pumped up and excited to spread it.

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Seth Godin has cool blog why you matter.

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Some web videos get a few thousand views, and more are lost in cyberspace. A few break away from the pack and become superstars, with viewership in the millions.

Since YouTube launched in 2005 and made video sharing part of pop culture, viral videos have quickly become the latest mutation in mass media.

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When Lynette Damir and her husband, Jeff, launched SwaddleDesigns in 2002, they could not have imagined the wild success they’ve achieved today. The company, which makes products, including the Ultimate Swaddling Blanket, to help parents care for their babies, grew 560 percent from 2005 to 2008. And despite the poor economy, sales are up for the first four months of 2009 compared to last year.

When everyone else seems to be losing money, why are companies such as Swaddle Designs enjoying success? Jeff Damir, co-founder and president of SwaddleDesigns said, “Creativity is critical to success for a start-up or any company navigating a challenging business environment.”

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Virals, eh? If there was another such misused, misunderstood and misinterpreted term in the history of marketing, then I’m yet to stumble across it. And it seems that over the last decade the problem just hasn’t gone away. So, I’m taking proactive steps to rid the world of this particular albatross through the medium of Powerpoint. Well, and this blog.

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Expect an influx of experimental social media campaigns (like Ford’s Fiesta Movement) to crop up over the next six months—as a majority of marketers recently told Forbes that they’d be increasing their viral marketing budgets at the expense of other tactics. About 42 percent of survey respondents said they’d spend more on viral campaigns later this year. Marketers were also bullish on SEO, with 40 percent saying they’d spend more.

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Referral marketing is a powerful thing: it can let you spread information to a wide audience in such a short time and with little investment. In fact, it is so effective in marketing businesses that it is now one of the most known marketing strategies used by web entrepreneurs. However, Referral marketing has its downsides, and the most prominent of which is that it can be turned as a vehicle for spamming.

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