Good marketers and brands have the difficult task of staying up-to-date on trends and recognize new and better avenues to distribute their messages. There was a time when billboards were to best way to advertise your product, and now they hardly bring in any revenue. As society changes, so do the ways it responds to different advertisements. The most recent trend in marketing is word-of-mouth (WOM) and brand advocacy, and the common theme these two things share is trust. With Internet reviews, Yelp, blogs, and social media being the industry norm, people can share their opinions about your brand or products quickly, and it will be seen by the masses. For this reason, managing and applying WOM and advocacy strategies to your marketing plan is essential, because if those reviews turn sour, your company could fall before it ever gets started.
A fair question to be asking is: in whom are consumers putting their trust? Previously, all a company had to do was deliver a compelling message, and people were likely to respond well if the product matches the description. Now, people are tired of being sold to, and they are ignoring the assault of ads they are receiving. The Boston Consulting Group, a management consulting firm who services more than two-thirds of the Fortune 500, asked the same question and discovered the following results:
People put their trust in people they relate to. This could be as simple as reading a review from previous customers, or hearing a friend talk about their experience with your company. This is a very important fact to recognize. Consumers aren’t responding well when companies put their efforts into telling them why the brand is good; instead, they need to hear it from others in order to have faith in what you are selling them.
Another question you should be asking is: how do I manage word-of-mouth and customer advocacy? It really is a tricky task to undertake. The obvious answer is having great customer service, but that only assists people who come to you with a problem. According to BCG, “advocacy program can generate ongoing conversations between companies and customers, contribute creative ideas for new products, and facilitate real-time feedback.” So, the best way to increase WOM is to start conversations. If you give people a reason to discuss your brand, and give them a place to do it, you are well on your way to taking full advantage of this modern marketing movement. This is our motivation behind LoTech. By putting your brand on a ladle, a cutting board, a spoon, or any other serving product, we are putting your name in the mouth of consumers who will spread it to others.
To read the full article upon which this post was based, click here: Harnessing the Power of Advocacy Marketing