Impact of Social Media and Viral Marketing on the Film Industry.
Interaction or exchange of the user generated information or content take place in virtual communities through social networks such as ‘facebook’ and ‘twitter’ using an internet for communication is called social media.
Different network websites focus on different issues which include books, general, film, music, community, health, education and tourism. A Marketing technique similar to a self-replicating virus through an internet, using social networking or other internet applications for creating or increasing brand value is called as viral marketing. According to St-Amant (2012 p. 1), a patient principal uses viral marketing for stronger results. This paper seeks to analyse and make recommendations as to how the managers of the film industry can respond to the issues relating to social media and viral marketing considering their impacts on the industry with justification for recommendations. Evolution of social media over a period of time indicates how businesses have made use of it for marketing. Understanding the developments taken place in social media is important for evaluating its impact and reorienting our strategies in line with technological changes.
Evolution of social media
Once, word of mouth was the greatest marketing mantra. Also, rumour gets thicker as it spreads. In social media, it can become a mania or rage due to viral power in self-replicating techniques, if the strategy is logical and sound. According to Hinz et al (2012 p. 12) ‘hubs and bridges are key to the diffusion of viral marketing campaigns.’ Social media has broken the concept of ‘time’ in marketing perspective. Time and place are no longer the prohibiting factors in viral marketing in social media. The Web 2.0 phenomenon made collaboration with the customers easier. ...