Viral Marketing Research
Encyclopedia
Viral Marketing Research is a subset of marketing research
that measures and compares the relative Return On Investment
(ROI) of advertising
and communication strategies designed to exploit social networks.
Algorithms are used to derive respondent-level coefficients of Social Networking Potential
(SNP). These coefficients are integrated with respondent-level data measuring
Results identify strategies that are likely to drive sales among the target audience and be distributed throughout relevant social networks.
. Results help the manufacturer maximize sales by identifying what needs to be communicated and through which media (e.g., print ads, Internet videos, texting, television).
A pharmaceutical company has developed a new drug for an existing drug category and needs to build brand recognition. Viral Marketing Research could be conducted among physicians or patients to identify which communication strategies are most likely to be spread by word-of-mouth, and which are likely to induce physicians/patients to prescribe/request the new drug.
The search engine Viral Sauce uses viral marketing research and statistical methods in order to rank the results of search queries by the perceived viral potential of content (using a measure which they call vRank), rather than by content's current popularity. In doing so they claim to be able to retrieve content which is more interesting to niche users.
Marketing research
Marketing research is "the function that links the consumer, customer, and public to the marketer through information — information used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve...
that measures and compares the relative Return On Investment
Return on investment
Return on investment is one way of considering profits in relation to capital invested. Return on assets , return on net assets , return on capital and return on invested capital are similar measures with variations on how “investment” is defined.Marketing not only influences net profits but also...
(ROI) of advertising
Advertising
Advertising is a form of communication used to persuade an audience to take some action with respect to products, ideas, or services. Most commonly, the desired result is to drive consumer behavior with respect to a commercial offering, although political and ideological advertising is also common...
and communication strategies designed to exploit social networks.
Algorithms are used to derive respondent-level coefficients of Social Networking Potential
Social networking potential
Social networking potential is a numeric coefficient, derived through algorithms to represent both the size of an individual's social network and their ability to influence that network...
(SNP). These coefficients are integrated with respondent-level data measuring
- the selling effectiveness of specific communications and
- the Viral Marketing Potential of those communications within specific media (e.g., Internet video, texting, print ads, television).
Results identify strategies that are likely to drive sales among the target audience and be distributed throughout relevant social networks.
Examples
An electronics manufacture is about to launch a new video console and wants to maximize new product potential. In advance of the launch, Viral Marketing Research is used to compare the relative ROI of several strategies of among high SNP respondents within the target audienceTarget audience
In marketing and advertising, a target audience, is a specific group of people within the target market at which the marketing message is aimed .....
. Results help the manufacturer maximize sales by identifying what needs to be communicated and through which media (e.g., print ads, Internet videos, texting, television).
A pharmaceutical company has developed a new drug for an existing drug category and needs to build brand recognition. Viral Marketing Research could be conducted among physicians or patients to identify which communication strategies are most likely to be spread by word-of-mouth, and which are likely to induce physicians/patients to prescribe/request the new drug.
The search engine Viral Sauce uses viral marketing research and statistical methods in order to rank the results of search queries by the perceived viral potential of content (using a measure which they call vRank), rather than by content's current popularity. In doing so they claim to be able to retrieve content which is more interesting to niche users.
See also
- Market ResearchMarket researchMarket research is any organized effort to gather information about markets or customers. It is a very important component of business strategy...
- Social Networks
- Social Networking PotentialSocial networking potentialSocial networking potential is a numeric coefficient, derived through algorithms to represent both the size of an individual's social network and their ability to influence that network...
- Viral MarketingViral marketingViral marketing, viral advertising, or marketing buzz are buzzwords referring to marketing techniques that use pre-existing social networks to produce increases in brand awareness or to achieve other marketing objectives through self-replicating viral processes, analogous to the spread of viruses...