Today, we don’t need to use papyrus or clay tablets to advertise goods for sale (or record customer service complaints), but the fundamentals of marketing and selling are still the same. You need a product that people want or need, the price point is what customers are willing to pay, the product is promoted to the prospective buyers at the right time and place. What has fundamentally changed is the technology, the channels, and the tactics by which we can now find our customers and prospects. (For marketing history buffs: check out this cool infographic showing marketing trends from Gutenberg onwards to the 1970s, before the internet.)
Technology has enabled marketing to know more about our prospective customers than ever before, but that very same technology has enabled the buyer to become in charge of the buying process. This makes it very important to consider new channels and strategies to reach the buyer at the right time and right place when they are searching for the right solution.
A few weeks ago, The Weekly Trends contributor Jobilyn Jong Jong asked 17 marketing experts to provide insights on a strategy they were adding to their marketing mix for 2020. Cira Apps CMO Sonya Pelia provided her thoughts on the importance of adding a customer advocacy program to your marketing plan. Below are some of her thoughts.
“With a customer advocacy program, your customers essentially become part of your product, marketing, and sales teams. A happy client’s referral to a colleague is often far more effective than a cold call from a marketer or salesperson . . .”
“Research shows that 80% of a company’s revenue will come from 20% of its existing customers. This isn’t a surprise. Prospects will always conduct independent research to help them decide whether to purchase your product. Part of this process is to comb through your website, social media channels, and third-party websites for customer stories and reviews. A customer advocacy program makes it so your users and your product will essentially speak for themselves without any additional marketing expense. Your customers are a resource, and by tapping into this resource, your marketing campaigns gain credibility and effectiveness, the sales cycle shortens, the company builds a product based on customer needs, and this drives revenue.”
Rest of the story here with 17 marketing trends and strategies for 2020 including YouTube, podcasting, TikTock, branding, and AI-powered chatbots!