Current Issues in Marketing Strategy

Viral marketing strategy is the modern day word of mouth. In the same way that it has always been, offers of high value (monetary or otherwise) are passed person to person, friend to friend, resulting in a large cross section of the community being informed. In recent times, YouTube and Facebook have been the modern vehicles used to expedite this process, with the ability to instantly communicated to large groups of people and be shared again within a click of the mouse. Despite the potential, for ever campaign that goes viral 1,000 do not. So should we waste our time on Viral Marketing strategy? To successfully answer this, lets at the components.

The exchange of value is an academic construct that makes logical sense, but in reality is extremely difficult to measure. Take 'beached as' with its' 6 Million views to date, is there a clearly defined social currency behind it? I would argue there are plenty of funnier videos on YouTube that have never received 6 views, let alone 6 Million. Industry experts I have argued the viral marketing strategy point and while many submit, a quality commercial succeeds because Facebook and YouTube allow for free syndication (which is correct), it is the vehicle aspect of these networks that facilitate the 'pass along', not the networks themselves. So to summarise this point, it is very difficult to pick a winner, nobody knows what will go viral or not.

Viral marketing strategy doesn't always have to be creative. Some of the best examples of video driving growth are found in the instructional video's that litter the Internet. Leveraging the medium of video, users can find everything from how to tie a bow-tie to how to roll illicit drugs. This is powerful as it provides a channel to subtly plug products or brands to people reliant on the video resource.

Blendtec is without doubt the best use of viral video marketing strategy I've seen. It is a rare month when a Facebook friend doesn't post a Blendtec video. Hosted by Tom Dickson the company founder, 'will it blend' is their regular segment where they use their blender to destroy various objects including; iPhone, rake, iPad, glow sticks, lighter, Wii Remote.

This viral video has become a very popular segment, with user tuning in to see the next crazy blending experiment. More to the point, this provides the company with a chance to show off the robust design of their product. In the same way as TV presenters use to cut through leather shoes with a fancy knife set, Blendtec is taking it to the next level and using Facebook and YouTube to syndicate their antics.

Viral media marketing strategy is fantastic, powerful and effective, but more attempts will flop than succeed. I recommend focusing on the basics before you endeavour to create viral content. I suggest that you focus on delivering value in your offer before you worry about going viral.