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Advocacy: From the Backroom to the Boardroom

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David Feber & Helen Feber
Referential Inc.

Published in: Marketing
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Advocacy: From the Backroom to the Boardroom

  1. 1. David Feber & Helen Feber Referential Inc. 1
  2. 2. The Advocacy Advantage: San Francisco – July 2016 Advocacy: From the Backroom to the Boardroom Presenters: David Feber Managing Partner Referential, Inc. Abby Atkinson Senior Manager FireEye, Inc. #advocacyadv
  3. 3. Things have changed: • The traditional sales cycle no longer exists • Advice is actively sought from peers and it happens much earlier on mostly via social media • Resources are readily available to assist research • Buyers have done the majority of their research – including talking to your customers – before they even approach you • Gen-X’ers and Millennials are rapidly becoming very influential in the business world • Advocacy is no longer a backroom function #advocacyadv
  4. 4. What “advocacy” shouldn’t just be: • A client success program purely designed for net-new or upsell/cross-sell initiatives • A bug-fix/self-help program or community • A case study program • And most importantly….It should never be an ASK! Sales client success programCase study programSupport self-help program Cost Center #advocacyadv
  5. 5. Why advocacy? Engaged customers are more loyal, trust you more, buy more… and share their success with others more Voice of the Customer Sales Marketing Executive programsSupport Services Value Center #advocacyadv
  6. 6. The spectrum of advocates’ engagement • We need to appeal to multiple types of buyers with multiple buying styles • Understand the client journey and how to seed it with customer evidence • Programs need to be holistic – coordinated across all activities • Webinars • CABs • Success stories • User groups • Calls with prospects • Social media • Blogs • Multi-media stories • Vlogs • Lunches/dinners • PR placements • Speaking engagements • Awards nominations • Communities • Advocacy hubs • Conferences • User groups • Newsletters • Beta testing • Analyst discussions • Symposiums • Calls for presentations • Regional meetings • Best practice sharing • Networking • Logo use • Sound-bite quotes • Referrals • Journalist conversations • And so on………… #advocacyadv
  7. 7. How to measure impact? Client Lifetime Value – CLTV – a true measurement of business health CLTV = [( Revenue * Gross Margin ) / Churn] – Acquisition Costs But there is an easier way…..
  8. 8. Client Lifetime Revenue CLTR = Revenue per Month x Relationship Length (in months) For example: If a customer signs an annual contract for $12,000 this is equivalent to $1k per month If they stay a client for 2 years: CLTR = 1,000 x 24 = $24,000 This doesn’t include variables such as margin, acquisition costs or churn… …..but it is a solid proxy for gauging the health of your business…. ….and is significantly easier to calculate!! #advocacyadv
  9. 9. CLTR….so what? We can now calculate the impact of being an advocate on our business: Real life data: Non-Program Members Advocacy Program Members Average Revenue per Month ($s) $6,242 Average Relationship Length (months) 13.9 CLTR $86,949 #advocacyadv
  10. 10. CLTR….so what? We can now calculate the impact of being an advocate on our business: Real life data: Non-Program Members Advocacy Program Members Average Revenue per Month ($s) $6,242 $20,625 Average Relationship Length (months) 13.9 16.7 CLTR $86,949 $345,045 This is an illustration of using CLTR; but also it’s a stunning example of the power of advocacy and the impact of having a closer relationship with your clients!! Over the duration of their relationship, clients actively engaged by the advocacy program generate 4x as much revenue as those that aren’t engaged! #advocacyadv
  11. 11. Lighthouse Program Kara Wilson Chief Marketing Officer Abby Atkinson Senior Manager “The purpose of a business is to create a customer who creates customers.” – Shiv Singh, SVP Global Head of Digital & Marketing Transformation, VISA #advocacyadv
  12. 12. ‘Think strategically and execute tactically’ Strategic: ▪ Metrics, metrics, metrics! ▪ Communicate ▪ Be strategic ▪ Leverage the voice of the customer ▪ Make your advocates feel special Tactical: ▪ Ensure positive relationship-building throughout the customer lifecycle ▪ Provide regular customer communication, education and check-ins ▪ Create a co-marketing plan versus making constant asks ▪ Leverage the voice of the customer by: ▪ Placing banners, posters, video clips of customers in the Executive Briefing Center & throughout offices ▪ Encouraging advocates to write and comment in blogs and social media – sharing, tweeting, liking, etc. ▪ Asking them to refer peers and people they’ve met that might benefit from a FireEye solution ▪ Inviting customers to attend birds-of-a-feather / prospect dinners ▪ Engaging them in industry initiatives that focus on their business success, not FireEye products! ▪ Nominating individuals for industry awards ▪ Having customers speak at events and user-groups ▪ Posting multi-media testimonials online in a variety of locations and formats Folio of welcome materials Welcome gift item
  13. 13. Metrics by role for relevance Program manager’s metrics – detailed ops report: ▪ Workload balance ▪ # days to fulfill requests ▪ # requests open, fulfilled, no matches found ▪ Month-over-month request volume fluctuations and trends VP’s metrics – mid-level report ▪ $ deals assisted and won ▪ Request volumes ▪ # advocates by type, region, product ▪ # testimonials C-suite metrics – executive dashboards ▪ $ deals assisted and won ▪ # testimonials available #advocacyadv
  14. 14. Call to action: • Incite advocacy! [Over the next decade, the companies that succeed will be the ones that embrace the power of advocacy and give advocacy a seat at the C-suite table] • Advocacy Programs - You need one! • Create a client journey roadmap & begin to populate your own advocacy portfolio • Define your own CLTR for engaged/non-engaged clients • Plot your trajectory & see how you measure up • Rome wasn’t built in a day…..but you need to start NOW!!! ☺

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