In 2021, eCommerce has become highly competitive., with an estimated 24 million stores live worldwide. Although this competition makes online growth difficult, some brands are able to expand quickly and easily. How do they do this?  

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.

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.

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.

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.