Employee advocacy – the promotion of an organization or its products and services by one of its employees
Employee advocacy seems to be at the forefront of marketing right now, as employee advocacy programs are being implemented across organizations big and small as not only a way to boost their reach and engagement, but to drive new business and build on company culture.
Hinge Research Institute has teamed up with Social Media Today to produce a new study on employee advocacy. ‘Understanding Employee Advocacy on Social Media’ is a research report that explores how businesses are using employee advocacy on social media to grow their brand. We’re going to discuss some of the key takeaways from this report, and discuss why they’re relevant to your company.
Employee Advocacy Programs Lead to High Growth
The main benefits that are typically associated with employee advocacy programs are greater reach and engagement, increased website traffic, and elevated company culture. So, it seems fairly evident that this would lead to faster growth, right?
The report found just this, with 31% of high growth companies surveyed having already implemented an employee advocacy program, suggesting a strong correlation between employee advocacy and rapid company growth. Of all companies surveyed, just 14.7% outside of the high growth margin had implemented a program.
For the report, participants were asked if/how employee engagement on social had benefited their organization. Over 96% of those surveyed identified benefits derived from social media engagement, and 27% of high-growth companies had seen a shortened sales cycle, which is twice that of those slower-growing companies surveyed. This indicates that it’s not just employee advocacy programs that boost growth, but organic conversations and interactions on social can be equally beneficial.
Employee Advocacy Programs Maximize Social Selling
If you work in sales, you’re probably all too familiar with the practice of social selling. However, what many seldom consider is that social selling can be achieved by anyone and everyone within an organization, simply by having conversations and advocating for your organization.
Social selling – Harnessing the power of social media to listen to, engage with, and build rapport with potential customers. Social selling is the most effective way to ensure that you are the first person/company that comes to mind when someone is ready to buy.
The Hinge report found that employee advocates participating in their company’s employee advocacy program saw two main business development benefits from advocacy:
Attracting and developing new business
Generating new revenue