Thanks to Cara Fuggetta for pointing to this amazing Forbes.Com Video, par of the content in their CMO Network... Definitely worth taking the 11m:23s to watch and ponder as it is dense with insights and valuable quotes; extracting, paraphrasing, grouping and reordering a few nuggets:
- Brand Advocacy has existed forever, Social Media is a channel that has heightened its presence and importance.
- Thanks to the raise of Social Media the "reference point" for the consideration of products & services has shifted from TV, Radio & Printed Advertising to an Individual's Social Network, and thus increased the importance of Brand Advocates for your business.
- Advocacy is a "derivative" of a customer experience, you can't "make Advocates" but you can make an effort to identify them and help them advocate for you.
- There is the "temptation to create Advocates"; companies try to create shortcuts (pay, rent advocates); the end users at large are aware and looking out for the "Authentic Advocate".
- Gaining a Brand Advocate may well be more important than gaining a customer, because of the multiplication effect.
- You don't just want the Advocates that already have the propensity to talk; you want to go after those quiet Advocates and prompt/make it easy for them to talk on your behalf.
- Advocates don't do it for you, they do it for their friends and for themselves. You can't create them, but you can activate them, You can't pay them, but you can include them (make them insiders and giving them knowledge that few people have).
- Loyalty versus Advocacy
- Loyalty focused inward, Advocacy focuses outward
- Loyalty is rational (I do it because it is convenient for me), Advocacy is emotional (I do it because I believe in it and in benefiting others)
- If you help facilitate the right kind of interaction between your Advocates and your potential customers, The Advocates will begin converting the potential customers for you without even asking.
What do you think?