INSIGHTS
A Guide to Understand Advocacy Marketing & Its Importance
A marketing strategy is essential for any business. Therefore, to gain traction in your business, you need to have a powerful marketing strategy to attract new clients...
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Dec 15, 2021
A marketing strategy is essential for any business. Therefore, to gain traction in your business, you need to have a powerful marketing strategy to attract new clients. Did you know that you can use your loyal customers as part of a strategy to attract new clients? Well, with advocacy marketing, you can achieve all of this and more.
What, then, is advocacy marketing? How effective is it? And how can it help your business? Here is a breakdown of the answers to these questions.

What is Advocacy Marketing?
Simply put, advocacy marketing is a marketing strategy where you get your existing customers or other stakeholders to attract new clients. More often than not, your loyal customers are put to the task of amplifying your business' brand with or to their existing networks.

What Makes Advocacy Marketing so Powerful?
Of course, every business wants to attract new customers and, at the same time, increase revenue at a lower cost. Advocacy marketing makes this possible by accounting for an average of 650% ROI for every dollar invested in it. Intriguing right?

What are the Effects of Advocacy Marketing?

Reach
If you are looking to utilize social media platforms as part of your marketing strategy, advocacy marketing will surely help you.  With high social media consumption, you can use your advocates on social media platforms to assist in networking. In this case, information travels faster and reaches a broad audience; therefore, you are assured of having new customers.

Trust
Businesses thrive on trust. Therefore, the essence of trust cannot be undermined, as it ultimately leads to customer acquisition and loyalty. Consumers often find information coming from their friends or inner circle as credible and worthwhile than direct messages from a brand. Therefore, advocates are in a better position to increase customers who often are people close to them.

Thought Leadership
Encouraging advocacy marketing in your organization puts you in a better position to build credibility among prospective customers. You achieve this by empowering stakeholders to become thought leaders whose purpose is to influence customers on social media, thus boosting brand awareness.
Also, the fact that thought leaders are sales professionals makes it easier and increases the willingness of B2B to engage with them.

Revenue
Indeed, statistics underlying the ROI further the importance of utilizing advocacy marketing. Also, the research on the statistical argument for customer advocacy highlights that a 12% increase in advocacy generates two times an increase in revenue growth rate. By the same token, the research underscores advocates as being twice as effective as non-advocates in persuading new customers and increasing revenue.
Advocacy marketing can help you gain traction in your business. To fully capitalize on this, you need a clear and proper structure with a digital marketing strategy. Don't hesitate to contact us to help you achieve your business' marketing goals.
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