Brand advocacy is all about your business lovers introducing you to new customers, efficaciously driving new revenue and business intelligence. It further helps cut down on marketing expenses as well. It can benefit a business in a number of ways. Read on to know what such this advocacy can do for your business.
Customer retention is less costly than customer acquisition:
It is a well-known fact that the cost of acquiring new customers is high as compared to nurturing the existing ones. Now, the brand advocates are your repeat customers as they come back and buy from you regularly. If you value them by appreciating them, keeping them updated with the latest products and services, providing offers and discounts, you do not have to worry much about driving the new customers. This is because these advocates will readily be doing that for you apart from upgrading their packages more often and also signing contract renewals.
Word of mouth is the most powerful type of marketing:
Brand advocacy cuts out your marketing expenses as it is the main source of word of mouth marketing. Customers today, are keen to learn about products and services through the people they can trust. So, having brand advocates can actually help endorse your brand and boost your sales and profits.
Increased brand awareness:
The advocates of your business are those customers who are fully satisfied with your products and services. It’s imperative that they will spread a word about your company and eventually increase brand awareness. As a matter of fact, these advocates love your business and talking about it, so, the more they speak, the more they attract your prospects. Also, through advocacy, there is a high probability of prospects recognizing your company and buying from you.
Fueled social media marketing:
As a matter of fact, the brand advocates want to be seen as useful. Social media platforms enable them to share their messages and stories. Thus, the businesses who work on gaining advocacy actually see much more engagement online and can also keep their followers, present customers, and prospects updated with everything that they want them to know.
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Source: https://www.livechatagent.com/4-reasons-business-use-brand-advocacy/