Why Your Business Needs Advocates to Scale
Brand advocates are essential to any business. These customers are willing to praise your brand and refer others to your services?
But how do you get loyal brand advocates in the first place?
Keep reading to find out why advocates and repeat customers are essential to revenue growth!
What Are Brand Advocates?
Brand advocates are willing to champion your brand without being paid. If customers are paid to promote your brand they’re affiliates creating sponsored content.
When your customer is a brand advocate they’re willing to provide satisfied testimonials of how your product benefited them and why others should experience it! It’s essentially their way of expressing their love and gratitude for your brand.
Remember, statistics show that 91% of 18-34-year-olds trust online reviews and testimonials, so having brand advocates can do wonders for your customer acquisition!
What Is Customer Retention?
Customer retention refers to how a product or brand keeps its customers returning.
Repeat customers offer more value than a one-off customer. They’re also more likely to become an advocate for your brand and in turn, will teach new audiences about your services.
Repeat customers promote consistent growth as they continue to champion your services or products. They can also be the cause of predictable revenue growth as they refer your brand to other customers in the target market.
Acquiring Customers vs Retaining customers
Do you ever wonder what’s more important, customer retention or customer acquisition?
It’s estimated that a 5% increase in repeat customers will boost your profits by at least 25% and it could even go up to 95%!
With repeat customers, you need to focus on customer retention and improving the overall customer experience - which should be focused on anyway even if you’re acquiring customers.
On the other hand, focusing on customer acquisition comes with more costs. You have to do more marketing so you’re spending on advertisements, general marketing costs, and there are increasing or fluctuating ROAs.
Forrester Research found that B2C e-commerce companies are focusing more on customer retention than ever, leading to an increase of 15% in 2021. It’s time to start focusing on retention!
The Benefits of Repeat Customers
Repeat customers, or brand advocates, always return to your brand. They often spend more and end up telling their networks about the benefits of your brand.
Focusing on great customer experiences is a key way to keep customers loyal and through these loyal advocates, you can hook more consumers in. This is a great cycle to enter as it causes increased sales and revenue growth.
How To Keep Customers Coming Back
To retain customers you need to focus on certain elements of your e-commerce brand. Here are the most important areas!
Fast or free shipping
A clear and easy-to-use website.
Optimized product pages with clear images
Unique and branded packaging
An unbeatable post-purchase experience
Want to find out more about these ways to retain customers? Learn more about creating brand advocates and implement the strategies into your business.
Let us help you boost your sales! Find out more about our services here.