Here is a list of best practices about word of mouth marketing that we have developed and that are the base behind the successes we’ve been able to achieve for our customers. These rules are at the core of what we believe is the power of the advocate.
In “The Ultimate Answer,” author Richard Owens, the CEO of customer satisfaction company Satmetrix, says a single Advocate of an enterprise software company is worth $565,000, based primarily on the Advocate’s lifetime referral value.
Advocates are 2X to 3X more valuable than average customers, according to studies by Yahoo!, Comscore, Zuberance than others. Why? • Advocates drive sales. Advocates not only are about twice as likely to recommend their purchases to friends than non-Advocates, but their friends also buy the recommended products two to three times more often. (see [...]