With ecommerce becoming so competitive, acquisition costs have reached extreme heights. But, while retailers are pouring investment into getting the attention of new customers – the average digital advertisement costs 12% more than it did two years ago and 85% of young people are losing trust in them altogether.
In our latest webinar, we were joined by Trustpilot, Oracle Bronto and Goblin Gaming to discuss how you can harness one of the most powerful and most cost-effective acquisition secrets today: customer advocacy.
Well, according to one study:
Customer advocacy starts with great experiences and ends with word-of-mouth marketing.
Why do we like this definition? Because it directly links customer advocacy to the customer experience. This makes a lot of sense. Research shows that there is a 86% chance that a customer will return to your store to repurchase if they received an excellent customer experience. And, when it comes to customer advocacy, a huge 77% of customers would recommend your store to others if they enjoyed their experience shopping with you.
It’s all about getting things right for your customer and going the extra mile. By keeping your customers happy, they will naturally serve as advocates on your behalf and tell others about you.
So hopefully we’ve convinced you – customer advocacy is something you need to start thinking about seriously. But how can you successfully use the power of reviews, loyalty and email to kick-start your advocate strategy? Keep reading to hear what the experts had to say on our webinar.
Our very own Head of Marketing, Fiona Stevens, opens the webinar by sharing how to identify and grow advocacy at every stage of the customer lifecycle. Too many retailers make the mistake of thinking that they have to wait until a customer becomes loyal before transforming them into advocates. Turns out, there’s a lot more you could be doing early on.
Fiona then covers three tactics you could be implementing alongside your loyalty program to encourage advocacy and acquire new customers.
Next, Peter Simpson, Global Head of Partnerships at Trustpilot, takes a look at the power of social proof and reviews to secure customer advocacy.
He shares how today’s new era of social proof has brought about new consumer behaviours. Turns out, 82% of customers are looking for some kind of proof to help them with their purchasing decisions.
Peter then dives into the types of social proof retailers, like you, could be harnessing to acquire new customers and distance yourself from the competition.
Irina Savitskaya, Channel Manager EMEA at Oracle Bronto, discusses the tactics you could be using today in your targeted emails to transform buyers into customer advocates. She covers strategies that span three stages of the customer lifecycle:
By paying close attention to these stages you’ll avoid falling into the trap of blasting out generic email campaigns. As a result, your customers will respond with increased advocacy and spending.
To top it all off, we were joined by James Hall, company founder of Goblin Gaming – a gaming store recently featured in the top 500 fastest growing retailers.
James has lived and breathed customer advocacy ever since the start of Goblin Gaming’s inception and views social proof and reviews as the foundation of the store’s growth. To really dig into Goblin Gaming’s success story we asked James some in-depth questions in our fireside chat.
What to hear what these experts had to say and more? Watch the on-demand webinar here:
Visit the LoyaltyLion Academy where we have more expert advice on how you can use loyalty programs to drive cost-effective customer acquisition, using rewards to drive reviews and referrals.
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