Brand Advocates: What are they and what are they worth?

What is a brand advocate?

Brand advocates are the people that are willing and able to communicate
their positive views and experiences with your brand and recommend your
brand to people within their sphere of influence. They are are the prime
movers when it comes to generating positive word of mouth.

What is a brand advocate worth?

Brand advocates are immense value to businesses, not just because they buy
more than other customers but because they also bring additional customers
through the door through personal referrals. A Deloitte study showed that
brand advocates spend twice as much as an ordinary customer. Zuberance
demonstrated that advocacy is worth an additional 300% increase in customer
spend bringing the total value to 5 times that of a normal customer.
Deloitte also noted that customers referred by other customers have a 37%
higher retention rate.

You can take advantage of this phenomenon by identifying your brand
advocates and providing them with the means and motivation to easily and
effectively to evangelize on behalf your brand.

How do you identify your brand advocates?

Rob Fuggetta, recognized as one of the foremost experts on brand advocacy,
suggests here that you ask, listen and observe. Ask directly and often through
feedback forms and customer surveys. Listen to what your customers say and
watch what they do.

By identifying your brand advocates, you concentrate your efforts on a
smaller proportion of your customers and consequently get more bang for your
marketing buck.

At Kipcast we have developed Userspike, a social engagement platform that
can help you identify your brand advocates and provide them with the means
to easily promote your brand to others in their social sphere; helping you
build a community around your content and cementing relationships that will
drive substantial increases in sales..