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Customer Advocacy and Pricing Power

   

Added on  2020-07-23

6 Pages1403 Words48 Views
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DIGITISINGMARKETING
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Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1CONCLUSION................................................................................................................................3REFERENCES................................................................................................................................4
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INTRODUCTIONCustomer Advocacy is a kind of customer service that are being provided to customers bythe company to focus on what is best for the customer. It ultimate means suggesting what is bestfor company even if the level of profit might not be at the desired level. Customer advocacy canbe in calculated under a company's strategic goals and can be measured by way of various factorssuch as customer satisfaction, profitability and Customer retention (Agrawal and et. al., 2015).Shred Bank is a company in UK which provide facilities of destroying the confidentialdocuments to various organisations as well as individuals, the current report will talk about thetechniques used by the company for providing Customer advocacy services.MAIN BODYCustomer AdvocacyCustomer advocacy is basically a tactic which are applied by company to ensure that overallsales growth takes place. When a customer makes another purchase from organisation, he is notjust a customer but rather a repeated buyer, he has the capability to advocate for company'sproducts as well as services. A customer advocacy program will ensure higher competitive edgefor the company in future and this will enhance the overall sales as well profitability of thecompany. There are some basic principles of customer advocacy , these has to be followed by thecompany, if they want to make it a part of their marketing programme. Some of the importantpoints, which needs to be kept in mind while framing a customer advocacy plan, these are asfollows:Firstly customer becomes an advocate of your brand only when he will get some benefitsfor doing so. People usually advocate more when they feel like they are part of somethingwhich is bigger than them, that would mean it is the responsibility of the company tomake them feel that they belong to the company and there should be a sense of belongingfor the company in the mind set of people (Friedrichsen, 2013). Shred Bank will have tomake policies for customers so that they will feel that they are a part 0of a cause and is apart of something bigger than them. They should feel like they are exclusive and theyhave their own importance and they can't be replaced.Yet another thing that is crucial for customer advocacy is that people want to knowexactly what kind of impact they have made on the company or firm in general. It is1
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