7 Secrets for Turning Customer Advocacy into Revenue
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Check out this presentation to get expert tips for driving revenue by leveraging your untapped customer base.
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7 Secrets for Turning Customer Advocacy into Revenue
- 2. Housekeeping • This webinar is being recorded! We’ll send you the slides and recording later today. • Questions? Add your question to the chat box for the live Q&A at the end • Posting to social? Use #mktgnation
- 3. Your advocacy experts today Jim Williams Vice President of Marketing Influitive Katie Pope Customer Marketing Specialist Marketo
- 4. of buying happens ‘below the surface’ 75% buyers consider WOM the #1 influence8 out of 10 59% rely on peers to make buying decisions Why advocacy?
- 5. 3 ways advocacy can help Reach a wider audience and boost awareness through trusted channels Increase customer satisfaction, engagement and retention Accelerate sales pipeline and revenue growth
- 7. of buyers said that social media played a role in their assessment of tools and technologies B2B marketers who use Twitter generate twice as many leads as those who don't 74%
- 8. Goal: Increase social engagement by Ambassadors by 30% Results: • 9,000 pieces of content shared on social media • 8,000 mentions • 81 million social impressions • 245,000 clicks Hootsuite Ambassadors
- 10. Only 9% of B2B buyers considered vendor content to be trustworthy 94% of marketers say the customer's voice is their most effective content Nobody trusts your content…
- 11. HP’s eBook: Written by advocates
- 12. Awareness 3. Word of mouth at events
- 13. Boost event engagement and ROI Before During After Crowdsource ideas VIP treatment Solicit feedback Speaker and award submissions Volunteer at your booth Collect testimonials Promote registration Speak on stage Share event content Crowd-source content Record testimonials and case studies Connect with community online Recruit booth volunteers Recruit more advocates
- 14. 2015 Marketing Nation Summit 1 launch 3 days 10 referrals 4K acts of advocacy 53 customer reviews 200 new advocates
- 15. Relationships 4. Customer engagement, satisfaction & retention
- 16. LTV New customer acquisition is expensive! According to Bain: ⬆5% customer retention = ⬆25%-95% profits
- 17. Among 1200 Marketo advocates… or higher: average retention rate of Marketo customers in Purple Select 95% of Marketo’s strategic customers participating in the program 43%
- 19. 7 out of 10 people who read reviews share them with friends, family and colleagues 60% of B2B tech buyers seek peer reviews before they make a purchase decision
- 22. of B2B decision makers start the buying process with a referral 84% Companies with referral programs: • Higher conversion rates (5X) • Faster time to close • Higher lifetime value Only 30% of companies have a formal referral program!
- 23. Blackbaud’s referral pipeline growth 2014 $250K 2015 $500K 2016 $750K Michael Beahm Senior Marketing Manager Blackbaud
- 24. Pipeline 7. Customer success stories
- 25. Your most effective content B2B marketers rank case studies as the #1 most effective type of content Storytelling releases oxytocin (aka the “trust hormone” or “love molecule”) into the human brain
- 26. See you at #MKTGnation Summit! bit.ly/mktoadvocacy
- 27. Questions?
Notas do Editor
- -- Lizzy: do you have a high res version of this image that I can swap in?
- This slide or the next one to set the stage around advocacy before jumping into the tips.
- Note on design: Couldn’t figure out how to darken the photo to match Slide 6.. If you know how, my thinking was to switch up the sldies with some teal accent slides here and there .But there’s also a purple image behind this one if we want to revert to consistent purple. *Sales Staff Intelligent Demand Generation "100 Sales and Marketing Stats that Will Blow Your Mind” ** Quote: 53% of buyers said that social media played a role in their assessment of various tools and technologies; 21% said social media played a very important role in their research process** The 2015 B2B Buyer's Survey Report: How Content And Social Media Are Impacting The Buyer's Journey
- Events = one fifth of the average marketing budget
- Software Advice Deloitte and Touche research cited in PR Newswire article "New Deloitte Study Shows Inflection Point for Consumer Products Industry"
- 84% of B2B decision makers start the buying process off with a referral. (LinkedIn) Do we have a stat about referrals closing faster and having higher lifetime value (outside of the self-reported Heinz data)? I can’t find it.. http://influitive.com/blog/infographic-17-stats-about-b2b-referrals-you-should-know-but-probably-dont/ Heinz stats for reference & inclusion.
- How do you find advocates? I have a small advocate program, but can’t seem to get my advocates to do the high-value activities you’re talking about...like referrals. What’s your advice for getting your advocates to refer more business? How do you measure the value of an advocate program?