When marketers think of promotion in the traditional sense, it’s likely paid advertising, sales, or direct marketing are what come to mind. But not all promotion has to come at a high cost. In fact, employee advocacy is approximately 1/10 of the cost of advertising.
The definition of “employee advocacy” is straightforward: the promotion of an organization by its staff members. It’s a low-cost, high-return approach to increasing brand awarenessâand thus driving engagement and fueling the talent pipeline.
With extensive budget cuts and the overall strain that organizations are feeling in a Covid-driven world, it’s these kinds of strategies that will help keep your brand afloat.
What’s more, your employee advocacy efforts have the ability to impact teams and departments across your organization.
But how can you showcase how that impact is directly related to overall business goals?
Consider the return on employee advocacy efforts in three buckets: retention, revenue, and reputation. The same goes for customer advocacy. Every advocacy strategy should have one (or more) of these 3 Rs in mind.
Let’s test that out by running through five metrics that help prove the ROI of your employee advocacy efforts.
1. Employee advocacy increases engagement