What’s the Value of Customer Advocacy
Lead generation, brand reputation, and company valuation.
Customer Advocacy is absolutely measurable, whether that be the percent of your lead generation sourced from direct customer referrals or your strengthened market reputation due to the high volume of raving fans that leads to a higher value for your brand. Customer advocacy supports your sales process with highly qualified and engaged leads that come in your door pre-sold, in addition to validating the buying decisions of prospects engaged through your marketing and sales process. With your customers listed on your website and referral boards across the internet, customer advocacy plays an ever-increasing role in your revenue production process.
Why Invest in Customer Marketing
Customer Advocacy developed by customer marketing.
Effective customer marketing is a sign of marketing and sales alignment, and a core component of revenue operations. Through customer marketing, you are able to expand relationships with clients — which also improves retention rates and revenue performance. According to the 2017 State of Customer Marketing Survey, 39% of respondents with Customer Marketing Programs are unhappy with the performance, with 27% are not even measuring revenue generated from these programs. When marketing and sales are aligned, then sales will trust marketing to get effective messaging to customers and marketing will trust sales to carry out the up-sell or cross-sell opportunity. Up-sell revenue, cross-sell revenue and renewal rate are the most important Key Performance Indicators to measure related to customer advocacy.
A good relationship with an existing customer opens doors to discover other needs and introduce other product or service offerings that may value. This is the most effective way to help your salespeople sell new products or services.
Satisfied Customers will learn about new products or services through Customer Marketing; plus because they have bought from you before, the close rate for selling additional solutions is exponentially higher than the close rate for selling to a first-time customer.
The retention or attrition rate is important to measure in any business, with the renewal rate especially important in any recurring revenue business model such as membership, subscription, and SaaS as well as in fundraising for nonprofit organizations.
Customer Advocacy ROI
Increase your profit margins with Customer Advocacy
We believe in creating customer advocacy through designed Customer Success initiatives. Customers need to be delighted in all facets of your business, so they go out and literally make sales calls on your behalf. They do this for your benefit and at little cost to you. From a B2B perspective, customer success means that you actively participate as a trusted partner in your customer’s business success. By utilizing this concept, we help you develop a powerful commercialization strategy.