The Challenge of Valuing Customer Advocate Activities
A CMAweekly member initiated the conversation by seeking advice on how to quantify the value of awards and activities in Influitive. This question is common among customer marketing professionals looking to create a robust advocacy program that resonates with their audience and translates into actionable results.
Expert Insights on Point Valuation
Community member Amy Ng provided a solid starting point, sharing that a standard point ratio is typically set at **1 point = 0.03**
This ratio allows organizations to backtrack from the perceived value of specific activities.
For instance, if a product review holds a value of 0.03**. This ratio allows organizations to backtrack from the perceived value of specific activities.
For instance, if a product review holds a value of 25 to a business, it translates to approximately 830 points in Influitive (since 830 points x 0.03 = 24.90).
Adding another layer to this discussion, Jeff Campbell shared insights from clients using Motrain, where he suggested a simplified point system of **1 point = 0.01 ∗∗.
This approach not only simplifies the math but also adds flexibility in adjusting point values based on marketing goals.
For example, course completion can be valued at ∗∗100 to 150 points∗∗ (roughly translating to 0.01 ∗∗. This approach not only simplifies the math but also adds flexibility in adjusting point values based on marketing goals.
For example, course completion can be valued at ∗∗ 100 to 150 points ∗∗ (roughly translating to 1 or $1.50), while friend referrals could earn participants 200 points.
Flexibility for Influence
One key takeaway from Jeff’s response is the ability to adjust point values based on strategic marketing needs.
If you aim to promote certain behaviors, like completing a course or referring friends during a particularly slow season, you can double the point allocations to incentivize engagement more effectively.
Conclusion
As discussed by Amy, and Jeff, establishing a clear and effective point system for valuing activities and awards is crucial for driving customer participation in advocacy programs.
By employing these strategies, B2B SaaS professionals can enhance their customer engagement initiatives, ensuring that every activity counts towards building a strong advocacy community.
For those seeking further guidance, continue to engage with our community of customer marketing and advocacy professionals. Together, we can share best practices and insights to foster a thriving customer-centric environment in the SaaS domain.
https://cma-weekly.pory.app/authors/amy-ng
https://cma-weekly.pory.app/authors/jeff-campbell
