What is employee advocacy?
Employee advocacy is the promotion of an organization’s initiatives, products and vision by its employees.
Many high costs can be associated with creating brand awareness and building an online following. One way for companies to do this quickly and inexpensively is to leverage the digital footprint of their employees to help get the word out about deals and special offers.
If you have any of the below-mentioned needs, then employee advocacy software portal is just for you
- Raise awareness for your brand through digital media or offline channels
- Enable products or services to be recommended by friends & family
- Let employees become brand advocates for the organization credible spokespersons for the company
Statistics suggest that employee advocacy solutions can be the most cost effective way to improve brand awareness and loyalty
- According to Nielsen Research, 84% of consumers’ value recommendations from friends and family above all forms of advertising – and additionally, 77% of consumers are likely to make a purchase after hearing about it from someone they trust
- IBM Survey suggests that leads developed through employee social marketing convert 7x more frequently than other leads
- Social Media Today states that content shared by employees receives 8X more engagement than content shared by brand channels
- Ad Age suggests that at least 60 million American employees share positive comments about their workplace online
What are the benefits of employee advocacy programs
Some brands would be doubtful if employee advocacy program is worth the investment. But with talent market becoming intensely competitive and companies discovering new ways to attract talent, employee advocacy solutions are becoming more important than ever.
Although, employee advocacy is still relatively a new buzz word, the brands that leverage the opportunity to implement employee advocacy programs today will most likely reap the long-term benefits.
Let’s take a look at some of the major benefits of employee advocacy programs.
Increase your social reach
Let’s say a company has 100 employees in a pool of 3,000 fans on their Facebook business page. Now if every employee in that company had an average of 500 friends on Facebook.
100 Employee advocates
25% See the post
= 12500 Reach
FB Business page
1 MillioN Fans
1% See brand’s post
= 10,000 Reach
Improve company culture
For most part, employee retention was all mainly about compensation, other benefits and job satisfaction within an organization role But today, company culture is an important part of its vision for both employees and employers. When many studies suggest that for employees a company’s culture influences their sense of engagement and loyalty for the company. When companies are in a frenzy to attract top talent, a great company culture that is promoted by employees can be a strong differentiator for your brand.
If you are looking at new ways to gain additional revenue, then employee advocacy programs can be your trump card.
According to the data from Hinge Research Institute and Social Media Today, nearly 64% of companies with formal employee advocacy programs credited the program to attract new business. Additionally, 45% businesses attributed new revenue streams to employee advocacy programs.
Your employees are not just your best spokespersons but also your best salespeople. They have greater influence over the products and services you sell than any piece other marketing material you can come up with.
By encouraging your employees to become advocates, you can reap long term financial rewards.