Viral Marketing and Its Impact on Customer Relationship Management: a Review on Marketing Strategies and Brand Awareness | Original Article
Due to growing competition in recent times, the international companies find themselves in acute need of creating new marketing technics. The companies try to sort out how to keep competing in the current internet age. They have started to apply interactive technics especially when they want to launch a new product or a brand to the market. The technological advancement has been leading the marketers to go for effective viral marketing in search of the new medium. Meanwhile, they require potential customer base and wider audience which is highly possible through social media. In prior to the attempt of analyzing the effectiveness of viral marketing, the concepts like CRM, the importance of CRM, several techniques of viral marketing, social media marketing strategies, and establishing brand awareness through social media are explored in detail. An emerging concept social CRM (Customer Relationship Management) integrates social media and traditional CRM to provide benefits for both customers and organizations and this has been paid much attention to achieve long-term customers. This paper attempts to present a review of scholarly literature on viral marketing and marketing strategies of social media in the way building a strong relationship with the customer and to find opportunities of creating brand awareness by tracking the responses of customers like word-of-mouth. The need for further study and their scope of improvement will also be accentuated in this paper.