Social Media Marketing is one of the best, and fastest, ways for an individual or company to spread information. An example of this is the recent buzz about the Old Spice videos that appeared on YouTube in the last couple of weeks. These hilariously silly videos made their way across the internet, with frequent postings on social networks like Facebook and Twitter.
In an article for ComputerWorld.com, Augie Ray, an analyst with market research firm Forrester is quoted as saying, “The Old Spice strategy makes brilliant use of social media. The response has been terrific. Social networks are buzzing. Video resharing has been very high, and the Old Spice YouTube channel now has 75 million total upload views. And this effort shows evidence of going even more viral.”
Social Media Networks can be hugely beneficial to companies who know how to employ it properly. If just one person posts a video or link on their Facebook or Twitter profile, all of their friends see it. If one of those friends reposts it, all of their friends see it, and so on. The information spreads like wildfire.
This is called viral marketing.
When a company uses existing Social Media Networks as a tool for viral marketing, it can be very cost effective. For example, in the Old Spice campaign, the bulk of the cost most likely came from the production of the video itself. Once the video was available online, people who watched it and liked it did the work for Old Spice. Each person who posted the video on their Facebook, or linked to it from Twitter helped Old Spice advertise their product, for free.