Authenticity and accountability are the most valuable selling points. These key points can be visible in Advocacy Marketing.
Similarities & Differences between Advocacy Marketing and Influencer Marketing –
Most of the people tend to get confused between Advocacy marketing and Influencer marketing.
But before clarifying their differences, let us see few of their similarities –
- Both build credibility quickly.
- They both support the efforts of SEO.
- Both to tend to increase the awareness regarding the brand.
- Both could diversify the social media marketing.
With all that being said, here are the differences between the two –
- Definition or Meaning
Advocacy Marketing is a form of marketing that emphasizes getting existing customers (casual people); to talk about the company and its products.
Influencer marketing is a form of marketing in which the focus is placed on influential people (influencers); rather than the targeted market as a whole.
- Comprising People
Advocacy Marketing includes the experienced customers who provide you strong referral leads. The people who have had direct first-hand experience with the particular brand, service or product would mostly spread the word online; i.e. via social media sites, review websites, etc.
Influencer Marketing includes popular or influential people such as bloggers, thought leaders, authors, consultants, speakers, etc. They need to be relatable to the product that you are trying to sell and must be trustworthy sources to others.
More Insight –
An Advocate program usually involves 100’s of advocates and reaches approximately 20,000 people (100 * 190).
Influencer Marketing programs engage between 5 and 500 influencers (5 if done manually, 500 if using automation software); and reach from 50,000 to 5,000,000 people (5-500 x 10,000).
- Content Creation
In Advocacy Marketing, the content is basically created by the brand; and it is just a single piece of content that would be created.
In Influencer Marketing, the content is usually created by the Influencers; and the amount of content created is about 10 to 100s of the original pieces of content.
Advocacy Marketing takes place by the customers in their own time at their own pace; hence there is no dependence on time.
Influencer Marketing requires the time of the particular influencer; and since they could have other partnerships in hand or few might building their own brand; hence it is difficult to get their attention according to your specific time.
How does Advocacy Marketing give out more ROI?
Clearly from all the differences mentioned above, Advocacy Marketing seems to be a better option. It has the following advantages –
- More referrals and better customer relations.
- More customer engagement.
- Increases the content generated.
- Costs are comparatively lesser than Influencer Marketing.
But how does this form of marketing improve ROI?
- According to a report by Nielsen Catalina Solutions, 83% of consumers placed the most trust in the recommendations of friends and family. Furthermore, 66% trusted the opinions of consumers they found online.
- According to a report conducting in the Harvard Business School Press, with just a 12% increase in advocacy; on average, companies can experience a 2X growth in revenue.
- Around 80% of shoppers conduct online research and check reviews before shopping; and having internal staff workers and fellow clients publicly advocate for your brand can give these shoppers the trust indicators they need to endorse your company.
Basically, a friendly conversation taking place via the advocacy marketing would help you promote your brand; as well as engage with the customers; thus providing credibility as well as more ROI.
Hence, both the forms of marketing is required for a company; but as a matter of fact, Advocacy Marketing seems to give you the upper edge in the long run.