Marketing to any business is like water to a fish. If you own a business or thinking of setting a new empire, the first thing you got to do? Get an incredible marketing team. But sometimes good marketing can cost you a hefty. Here comes Advocate Marketing in action. Advocacy marketing has a higher rate of engagement with the customers, with reduced acquisition costs.
Advocate marketing makes your existing customers talk about your brand and services with their peers, via word of mouth. You have to make your current customers satisfied to make them spread the good word for you.
Studies have found that 88% of people don’t buy things without reading or hearing any review about it. This is why all the marketers are more inclined to advocate marketing these days.
Your market value increases by 50% when advocacy marketing comes in.
A lot of people often confuse referral marketing with advocate marketing and why not? They are quite similar, but the significant difference is referral marketing includes incentives and rewards but advocate marketing not necessarily have incentives.
You’ve got a lot of customers, but not all can act as advocates for you because some customers advertise your brand more than others do. Therefore, these are the customers who deserve a token of appreciation and have to be made advocates. Now that we know what Advocate Marketing is let us now learn its benefits and strategies to implement it to your business.
What is the Importance of Advocate Marketing?
Advocate Marketing is one of the effective ways to increase the optimization of the company without investing much in monetary value. Advocate marketing is the most cost-effective and reliable. That is why most of the firms these days are getting inclined towards advocate marketing. It has a lot of benefits for both the company and the customers.
The points below show how advocate marketing impacts the growth of an organization.
- Reduced Customer Acquisition Cost
- The advocates act as the sales team for the firm.
- Increased customer engagement
- Number of loyal customer increases
- Reduces the need for Online Brand Reputation Management
- Increased brand value.
- Conversion Rate is increased.
To know about Advocacy Marketing in detail, Read: What is Advocate Marketing
What is Advocate Marketing Software?
So now we all know what is advocate marketing is and how it benefits an organization. But there are numerous customers indulged in a company. Some are more reliable and engaging than others. But how to identify those customers and keep them engaged throughout to spread the good word for you.
Advocate Marketing Software works solely for collecting reviews and social proofs from the customers online. All the social proof is then combined to form a source of communication for the customers onboard.
Advocacy software is similar to referral marketing software and brand awareness software because all of them work on the same ideology—increasing brand reputation and customer engagement via word of mouth.
There are various software providers in the market that works to identify the top influencers of the company. They keep customers engaged with the brand. Advocacy programs often include incentives to attract and retain loyal customers.
What are the Benefits of Advocacy Software?
There are many software providers in the market, and almost all provide the same features. But not all can top the market, only a few tops the game of advocacy marketing.
The features of such software are as follows:
- Creation of referral campaigns with exciting rewards and incentives.
- They provide top-notch tools to engage customers with the company.
- Contest for the top influencers.
- A smooth workflow and easy management of newly launched programs or campaigns.
- The software has a feature of in-depth tracking of all the advocates and customers.
- Connecting customers via the social platform and asking for reviews and testimonials.
- Data storage and easy data access.
Thus there is a long list of criteria that makes a customer your advocate. But it is not easy to identify the top influencers or advocates. Things can also be done manually. But in this digital era who likes to work in a hassle? This is when Advocate Software jumps in—to make your work easy.