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Word of mouthFrom: Using Advocacy to Measure Brand Strength
We all know that word of mouth is the best marketing tactic you can have on your side. When a brand is recommended by a trusted friend, family member or adviser (a.k.a. third party brand advocate), the consumer is much more likely to believe the recommendation and purchase that brand. Moreover, the consumer who recommended the brand is also likely to be a loyal customer, with a high lifetime value driven by frequent repurchases. While often included as a part of image, perception and awareness studies, or in brand equity research, we now recognize advocacy as the single most important indicator of a brand’s potential for growth. Measuring advocacy reveals the depth of the consumer's relationship with the brand, and the relevance of the brand message to the consumer. The consumer’s willingness to act as an advocate gives them a very personal stake in the brand. It’s their integrity and reputation that’s on the line, and what’s more valuable than that? |