The good old-fashioned word-of-mouth has just gotten a facelift.

This is every advertiser’s dream. A fast, easy and effective way of advertising is finally here. Best of all, it operates at virtually zero cost. And even better than that, your clients do all the work for you! A trendy gimmick that is too good to be true? Welcome to viral advertising. All you need is a good idea, a catchy phrase, a host of internet-savvy clientele and boom – you have an instant marketing campaign.

Viral Advertising is simple

Contrary to popular belief, viral marketing is not a new phenomenon. Ultimately, it works just like conventional word-of-mouth does. The concept is simple: You create a buzz through a message so intriguing and compelling that recipients want to pass it on to their real-life friends and online acquaintances. Instead of hiring a high-profile celebrity and spending thousands of dollars on a 30-second spot on the Super Bowl, viral marketing lets the consumers do the work in hawking your product. This is definitely the next big thing.

But, like all advertising techniques, viral advertising is not a success pill. To make this tactic work, companies also have to rely on basic principles of advertising, a keen business sense and a dose of vigilance. Here are the three most important things you need to know about viral marketing:

• Two words for you: Social Networking. Take advantage of the immense possibilities brought about by Web 2.0. Facebook.com, youtube.com, myspace.com and digg.com - merge viral marketing with social networking and you reach a whole set of contacts by tapping just one person.
• Keep it in moderation. Too many viral ads can cause not only inbox saturation, but can also annoy the recipient. It may be amusing for a time for two, but after a while, another email message hawking the latest product can get irritating. As a business, draw the line between entertaining and annoying. A good rule of thumb would be to rely on other modes of advertising aside from viral. Keeping a varied portfolio is the best.
• Be vigilant. A satisfied customer tells three people about the product or service that he likes, but a disgruntled one tells eleven more. Viral marketing is ultimately based on natural behavior to spread experiences and reviews through word-of-mouth. While the networks created by the internet are immense and spreading the word is as easy as the click of a button, the Web’s effectiveness can backfire just as easily. Consumers can spread complaints and negative reviews faster than they do good ones. Viral marketing is a double-edged sword. Companies are not really in full control of what people say or think about their products. In the end, your business has to deliver. Your product has to be worth the wait and justify the buzz that you have created. Remember that marketing blitzes and promotional tactics only get the customers through your door, but it is up to your product’s own merits to reel them in.

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