Viral marketing is used to widely distribute content. To achieve this goal, the basic decision‐making process from content reception to interaction must be clarified. This paper examines the decision‐making process of individuals in viral marketing using a new dynamic model. In addition, this work reviews the existing literature on viral marketing and structures to identify existing issues for further research. The decision‐making process is basically divided into two stages. In the first decision stage, individuals decide whether content should be considered. When individuals agree to view the content, they decide in the second stage whether they want to interact with it. These two decisions are influenced by three factors: the framework conditions, content, and interaction aims. With the help of the decision model, this paper summarizes the most important findings from viral marketing research over the last 20 years. In addition, this work provides new opportunities for further research in the field of viral marketing.