Customer retention and brand advocacy model helps marketing become more self-sufficient.
This piece argues that instead of focusing solely on sale generation, brands should also focus on generating trust by reconfiguring the sales funnel and shifting its orientation and objective. Establishing a trust funnel instead of a sales funnel would result in improved sales and revenue.
Brands need to move beyond building brand awareness and establish credibility by expressing their commitment to user privacy. They should share genuine, relevant and consistent updates through their social media accounts. An organisation’s presence on search results is also instrumental for building its credibility.
To build a long-term relationship with the consumers, brands need to be available and responsive to consumer queries. Engaging employees and partnering with influencers can aid organisations in improving brand advocacy. Acknowledging and tactfully handle negative reviews can further help customer retention.
[9 minute read]