Viral marketing has become a respectable and most importantly, very effective means of marketing among businesses worldwide – that’s if it is done correctly and respectfully.

Correctly and respectfully? What does that mean? It means not abusing the system. It means using viral marketing tactics to spread the word about your business, your product and your service without offending others or being self-serving.

But, viral marketing is inherently self-serving, isn’t it? Well, yes and no. To be truly effective, viral marketing must include a give and take approach. You must engage others, take part in conversation, and give as much as you get. In other words, don’t expect your message to spread itself. Viral marketing takes time, careful planning and well-thought out execution.

It has, for lack of a better word, an incurable need for attention.

While viral marketing can be applied in a number of ways, there are 3 main approaches:

#1 – To Share. Social media sites like Facebook, Twitter, LinkedIn and YouTube are in fact products of viral marketing themselves. While they’re sole purpose is to allow (and encourage) users to share information, they too must share their service via their users. It’s simple, really. Their users believe in them and enjoy their websites so much, that they share those websites with others. Knowing this and trusting this would take place, these social media powerhouses have become multi-million, some billion dollar businesses thanks to, you guessed it, viral marketing.

#2 – To Add Value. Adding value is not a characteristic unique to viral marketing. It is a common marketing approach across the board. For hundreds of years, business owners have understood the importance of offering their customers “more”. For instance, buy this product and receive this additional product for free. You get the picture. So, this notion of adding value applies to your viral marketing in the same way. However, rather than simply applying added value to your products and services, make value-added offers to those who share your message. For instance, send this message to an additional 10 people, and receive a free product. Incentivize and you will see results!

#3 – To create buzz. Similar to sharing, creating buzz is can be extremely effective. How is it different? While sharing refers to others literally sharing information with friends (i.e. Like my Facebook page? Sign-up for your own Facebook page today and see more of what I’m up to, including photos, favorites and more!) creating buzz is more about spreading the word. Consider how gossip spreads, or the way in which gossip magazines create stories based on hearsay. The idea is to get people “talking” about you and your business in a positive way so that they begin to encourage others to become customers, sign-up or carry on the conversation on their own.

As you can see, viral marketing is about more than inundating your audience with your message. Its about strategic planning and taking an approach that puts your business in a positive light while enticing others to not only become customers, but to spread the word as well.

What ways are you creating Buzz in your business?  Do you have any creative strategies to share with us?  We would love to hear about them, please post them on our Facebook Fanpage at: http://www.facebook.com/SouthernFidelityMortgage

Referral marketing is so powerful and many times so underused in our profession.  If we talk about ourselves, it may come across as bragging. However, when someone else says something about us good or bad, it’s a fact.   At least that’s how many people view testimonials from other people.  Statistically, only 14% of people believe marketer’s messages.  On the other hand, 78% stated they will trust the recommendations of other people, even strangers.  We all know that referrals can be the life blood of our commissions and having a marketing plan catered heavily to attracting those referrals is vital in today’s market.

How you handle that referral could be the life or death of the deal.  We’ve all been there, called too fast… talked too fast… seemed a little too anxious and then we end up losing the deal.  Well, this is a sure-fire way to help close some of those referrals that might have gotten away!

First, go slow.  Take it easy and remember that timing is everything.  Many times we get a name and number from a source and we’re told to, “Give them a call…”  Well, here are a few better ways to handling that.  Try to arrange a three-way meeting with the person referring you.  This will help build your credibility and take away the sub-conscious barrier that the prospect will have about ‘getting sold.’  If possible, schedule a meal together, or coffee.  If that’s not likely to happen, any type of informal get together to just have a proper introduction will work.  If this is not at all possible, then a 3-way phone call can do the trick.

If this source is someone that you’ve done business with in the past, or someone who you send business back and forth with, it’s always best to have them tell a story about you.  “Facts tell, stories Sell.”

Next, remember that you don’t have to sell on the first meeting.  I would spend much of the time getting to know the person.  Be friendly and as open as you feel comfortable.  I would leave the file folder, documents and briefcase in the car.  Try to look at it as meeting a new friend.

Finally, send a simple “Thank You” card.  Nothing too fancy…just a straight to the point message.  This is not the typical introduction most people receive.  This will be a very non- threatening approach that will help strengthen your relationships from the very beginning.  Not to mention, I’m sure you will receive more referrals from that source because they will be impressed with your professionalism and candor.

If you are already using this approach, then I would add to it.  Impress them with the ‘Giver’s Gain’ philosophy that has become absent in our lives today.  The ‘Law of Reciprocity’ will be at work.  This is basically you get what you give.  Smile, be a pleasant person to be around.

One final note, I would read or re-read Dale Carnegie’s classic, “How to Win Friends and Influence People”.  That book has been on top of required reading lists for decades and rightfully so.  Never criticize, condemn, or complain are 3 talking points from that book.

Remember that referrals are built upon relationships. Once this is mastered, virtually all forms of marketing will become exponential and your commissions will multiply exponentially!

We welcome your comments below!