Our latest guide to the most interesting things happening in the world of advocacy marketing

The Good, The Bad, and the Ugly...of influencer marketing

1. The rise of influencer marketing agencies

With $1.9 billion spent on influencer marketing in the US and Canada alone, it’s clear that influencer marketing is no longer a passing market trend. And with the growth of influencer marketing has come the rise of agencies and networks that exist to help companies and influencers connect. Sounds perfect for both parties, right? Not necessarily. While this approach may help retailers achieve short-term influencer impression goals, many influencers claim that agency involvement can make it harder for them to form long-term relationships with brands—a key factor when creating original, relevant content. On the other hand, influencer agencies see their existence as a sign that the industry has matured. Gone are the Wild West days of influencer marketing—agencies’ involvement is meant to make sure brands are getting the scale, benchmarks, and results they deserve. But which approach is best for your business? Read the full article.

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November’s guide to the most interesting things happening in the world of advocacy marketing

Build the best referral program for your business

11 ways to build an effective referral marketing system

We all know referral marketing is savvy marketing. Recruiting new customers from satisfied, existing customers is just good business. However, building the most effective referral marketing system can be a challenge. So what are the key objectives to keep in mind when building or revamping your referral marketing system? Set expectations upfront; let customers know that you want their feedback or will ask for it in the future. Transparency is vital for building customer trust. Second, analyze before you implement. Put simply; make sure your customers are satisfied before rushing to them for reviews and referrals. Otherwise, no one’s happy. Next, create multiple referral paths for customers. No two customers are the same, so it’s always a smart idea to communicate with customers in a way that is simple and efficient for them. With a few small changes, your company could be well equipped to build a successful and sustainable referral marketing program. Want more detail? Click the link to read more.

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October’s guide to the most interesting things happening in the world of advocacy marketing

The problems with 5-star rating systems and how to fix them

Does your business rely on a 5-star rating system for feedback? New research suggests you might want to rethink this approach. The truth is that 5-star systems are good at weeding out very low-quality businesses or products, but they make it hard to separate the good from the great. Why? Well, the 5-star system has built-in selection biases. Without incentives to rate businesses or products, most customers who leave feedback have either had a very good experience or a very bad one. Also, some businesses inflate their ratings system, meaning that 4.8-star average score might not be as exceptional as you think. The solution? Show customers an average rating for products or suppliers in that sector. Or, adjust user ratings based on differences in their reviewing behaviour. Follow the few easy tips laid out here to make your rating system more meaningful.

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