There is a thumb rule that businessmen borrow from economists ? there is no free lunch. Actually businessmen like to prove economists wrong. So they like to find bargains which look like free lunches and feel extra clever about eating those ?free? meals. Online marketing seems to be one such free lunch. The idea is clear enough. With a much smaller budget, you will create an extra clever viral marketing campaign, people will make it a success through facebook and twitter and you will get to thumb your nose at outdated models of brick and mortar marketing. Sadly in such cases, economists are proven right. There are not many free lunches with online marketing campaigns and unless you think them through, they will go wrong.
One of the more common pitfalls with online marketing campaigns is that marketers do not realize, they will have to give up control of the marketing message to the consumers. Consumers have the power to like your campaign. But they also have the power to dislike your campaign and negative word of mouth actually spreads faster than positive word of mouth. Unlike traditional marketing, where you have a lot of control over the medium and message, in online marketing consumers have a lot of power and control. Consumers also have the power to give direct and immediate feedback. These subtleties make online reputation management a significant beast to handle. If you do not manage it well, you can end up spoiling the reputation of your business.
But it is only a fair trade off. You can possibly run an effective online marketing campaign at a significantly less cost. But on the flip side, you have to be extra careful about managing your online reputation. The key to managing the problem is acknowledging the fact that you are not in as much control of your viral marketing campaign, as you may like to believe. Once you are aware of this weakness, you are less likely to succumb to any pitfalls.
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