5 Ways Brand Advocacy Can Benefit You
No matter what type of brand you’re building, there’s plenty of ways brand advocacy can benefit you. Brand advocacy refers to any behaviour that involves a customer supporting or recommending the brand that they love. If you’re not sure about how brand advocacy programs work, discover our guide, How to Build a Brand Advocacy Program.
Best Brand Ambassador Program Software, Websites and Platforms
Duel.Intelligence, Duel’s research and boutique advisory division, summarises the landscape of the technology for running Brand Ambassador programs within the B2C space.
In today’s digital climate the use of social media marketing is a vital part of the modern brand’s marketing arsenal. In part, this is due to changing attitudes towards traditional advertisement - with many millennials indicating they don’t trust or enjoy the experience of traditional advertisements. They do, however, respond positively to marketing from their favorite digital personality as this type of marketing is opt-in, or permission based. An opt-in/permission based message is experienced as fundamentally different, and most positively, than the paid-for equivalents.
3 Benefits of Brand Ambassador Marketing for Growing Companies
Growing companies are facing competition on an unprecedented scale. Not only are the markets saturated, but consumers have a tremendous amount of power to choose between products due to the internet and easy cross-border shipping.
5 Ideas to Create an Authentic Brand
With hundreds of thousands of products in the world, standing out as a brand is becoming more and more of a challenge. One very important factor in standing out is brand authenticity. Furthermore, as millennials take over as the biggest spending generation, this becomes more true, as authenticity is one of the most dominant millennial brand preferences.
9 Advantages of Customer Advocacy Marketing
Companies such as Nike and Apple have always enjoyed a leading position in their respective industries due to the strong advocacy of their customers. Customer Advocacy allows brands to organically acquire new, valuable, customers. In general, brand or customer advocacy is defined as the positive attitude of customers towards a brand or its products/services and their recommendation of the same to others after experiencing it themselves. Customer Advocacy Marketing is utilising of your customer’s advocacy in order to sell more products.
Statistic Explained: 12% Increase in Advocacy Leads to 2X Increase in Revenue Growth
Common Versions of the Statistic
- 12% increase in brand advocacy leads to a 200% increase in revenue growth
- 12% increase in advocacy generates a 200% increase in revenue and growth rate
- 12% increase in advocacy leads to 2X increase in revenue growth
- 12% increase in brand advocacy generates a 100% increase in revenue growth
- 12% increase in advocacy can result in 200% revenue growth
- 12 point increase in NPS score leads to a 200% increase in revenue growth
The Source of the Statistic
The source of the statistic is in a book named ‘The Ultimate Question’ by Fred Reichheld published in 2006.
How to Run a Successful Brand Ambassador Program
What is a Brand Ambassador?
A brand ambassador is someone who is formally recognized by the brand as a representative, and helps spread the word of the brand. A brand ambassador is subtly different from a brand advocate. Brand advocates spread brand awareness, but do not have formal recognition of a relationship from the brand. Because of the formal relationship, brand ambassadors may be encouraged to complete activities in order to spread a brand’s message and raise awareness.
How to Use Advocacy to Launch a New Product
Launching a new product is not easy. With only 35.75% of Kickstarters reaching their goal and 75% of venture-backed startups failing, the odds are never in your favor. The brands that have advanced beyond their initial offering have taken advantage of one of the key advantages they have over established brands: Customer Advocacy.