Who is a Promoter?
When you hit that sweet spot and get a customer who is all of these rolled into one, you’ve got your “Promoter”. The promoter is a perfect blend of brand enthusiast, influencer and is engaged with the brand. He has experienced your brand, loved the experience, likes to talk about how good the experience was, to both you and people in his network. Promoter responds to customer surveys that too mostly with great feedback and recommends your brand at every opportunity. A promoter is the ideal customer for any business.
A promoter is
A promoter is your cream brand evangelist who checks all the right boxes in customer satisfaction surveys. S/he always lands in a perfect ten on NPS surveys. A promoter swears by your brand and single-handedly brings up the customer life-time value several notches up. The promoter spreads the buzz, takes reference calls, leads communities, participates in conferences and events, expresses and most importantly influences opinions of his/her network.
A promoter is what you want and need to grow your business exponentially
Corporate Executive Board study of more than 1,400 B2B customers found that such customers completed, on an average, nearly 60% of a typical purchasing decision.
These include researching solutions, ranking options, setting requirements, benchmarking pricing, and so on
Promoters dine with your future prospects all the time. They are part of common clubs and hangout joints. They share their lives with each other. They naturally both address and trigger the needs fulfilled by your product, when they passionately talk about the benefits they presently enjoy themselves.
Conventional marketing approaches are not going to hit a chord with this customer.
Given the social technology infiltration in the society, it is becoming more and more effortless to get access to the advice whenever needed.
Customer is the King, because they control whom to allow in their lives.
According to a recent Reuters study, 47% of internet users in the U.S. already use ad blocking technology, and the percentage is even higher among younger users.
The good news is that you have a ready alternative path through current customers who have been happy campers for many years. They have enjoyed the value delivered by your brand. They love you.. And would be happy to advocate for your brand and spread the buzz.
Up to 83% of current satisfied customers have a high probability of becoming a promoter. But only about 29% are actually do.
We’re living in a connected world like never before. People are seeking and sharing recommendations and experiences for everything under the sun. The influencers are increasingly influencing choices and decisions.
Unless you figure out a new way to approach this, in-control and connected customer generation, you stand to lose not just one customer but an entire network of potential customers. Advocacy Marketing is an obvious choice, especially if you happen to enjoy good will among your customer base.
You need to create not just an army of customers but convert them into an army of promoters to win and keep winning.
A recent joint study by Ogilvy, Google and TNS stated that 74% of customers recognised Word of Mouth as the key moment-of-influence leading to their Purchase
Now imagine the immense possibility of turning this powerful customer into an evangelist for your brand. No advert can even compare to the impact of having a truly delighted customer recommending you to their network..
Think about the compounded impact when you can build an army of such promoters for your brand. That alone is a reason enough to start turning your customers into promoters, like right now.
Studies show that on an average it takes about 13 months to make any profits from a new customer.
Customer retention has become far more important a measure of tracking solid growth rather than blindly chasing and adding more and more customers. Retained customers are more likely to add more customers from their network. They are waiting to become your promoters. It’s a gold mine of growth waiting to be tapped.
MGI Research report suggests that the subscription economy could push past the $100 billion mark by 2020.