It is an open secret that brands invest significant revenue to nurture loyal customers (research shows over 70% of brands invest more than 2% of total revenue)— after all, a 5% increase in customer retention can increase a company’s profitability by 75 percent. Today more companies than ever have loyalty programs, estimated to be growing at 9% a year.
But there is another elusive type of customer that brands vie for even more – the advocate.
The....