You know that advocacy drives consideration and sales. That's not news.
Marketing-inspired consumer-to-consumer word-of-mouth generates more than twice the sales of paid advertising, according to McKinsey. Customers referred by other customers have a 37% higher retention rate, says Deloitte. And CMOs see customer advocacy and loyalty as their top priority in the digital era, according to IBM.
Meanwhile, the growth of social makes for an even more compelling case: As digital communities grow in both size and influence, so does the need to go beyond the number of community members and into something more meaningful: driving true business through advocacy.
Which brings me to the headline at the top of this post: Sprinklr just announced the acquisition of Branderati, one of the leading advocacy and influencer marketing platforms on the market. This is Sprinklr's third acquisition in six months. (In February, it acquired Dachis Group. In, April it bought TBG Digital.) Clearly, Sprinklr is aiming to be a robust enterprise marketing solution.