Happy Friday everyone
QQ - could someone point me to any industry benchmarking for metrics related to % of accounts in an advocacy program. I am looking to see if we are on track with the # of advocates we have in our program.
Hey ! We had a client ask us a similar question recently and this is what we found:
One stat a customer of our used for goal-setting is below. However, please be aware that someone willing to recommend your company is not the same as an active reference or advocate.
<i>There is a benchmark online that says that 25% of customers of a company should be advocates. This benchmark is based on the study by Bain and Satmetrix, Reichheld, F. F. (2003), The ultimate question: Driving good profit from loyal customers. Harvard Business School Press. The study found that companies with a Net Promoter Score (NPS) of 70 or higher had an average customer advocacy rate of 25%. This means that for every 100 customers, 25 of them were willing to recommend the company to others.</i>
thank you for this! I agree there are a lot of factors to consider and engagement is a big one for us.
Having an idea of what a general benchmark could be will us create our numbers. 🙂
Happy to help anytime! 🙌 This question came up a lot when I worked at Influitive as well, so I know it's always on our CMA practitioners minds haha
