Human Capital Management Companies Adopt Advocate Marketing to Gain Competitive Edge
$10B HCM market sees innovators fuel their growth in a crowded space through the voices of their most passionate customers
TORONTO, Oct. 12, 2016 /PRNewswire/ -- At last week's HR Technology Conference and Exposition, many executives realized a bold new strategy is emerging among both market leaders and challengers: human capital management (HCM) companies are gaining a competitive edge by mobilizing their customer advocates. Using Influitive's advocate marketing platform, companies like Ceridian, HireRight, PayScale, and Namely are standing out among countless vendors by turning satisfied customers into vocal advocates who generate valuable referrals, references and product reviews.
These companies have seen results that include the following:
- Namely influenced $1.8M in sales through references, achieving a 65x ROI
- Ceridian engaged thousands of customer advocates and increased their average Net Promoter Score (NPS) by 22 points
- HireRight grew its list of customer references 7X in less than 6 months
"Marketers and sellers can no longer depend upon demand generation for qualified opportunities in this competitive sector," said Howard Tarnoff, Senior Vice President for Ceridian HCM. "The high-value opportunities complete more than 60 percent of their buyer's journey prior to engaging with the vendor community, and that is significantly driven by peer influence and social engagement."
The proliferation of vendors has kept the HCM market highly competitive. Gartner notes that the industry grew 4.4 percent in 2015 to $9.4 billion, and forecasts growth at another 7.4 percent to $10.1 billion in 2016. That's why marketers are turning to innovative strategies such as advocate marketing, and the platforms that support it, to make their message heard.
"Influitive has allowed HireRight to interact with customers in a new and engaging way," said Brittany Liu, Senior Customer Marketing Manager for HireRight. "HireRight Heroes, our advocate community, has increased education and knowledge sharing among HR leaders and practitioners that use our background screening solutions, playing a key role in influencing future customers to turn to HireRight for background screening solutions."
HCM companies that have effectively inspired their advocates to promote their brand story are seeing significant return for their efforts – and designing better experiences for their customers.
"For our buyers, it is much easier to trust their peers' views than sales pitches and demos", said Amy Rosenberg, Community Marketing Manager at Namely. "With Namely Backstage Pass, our advocate community, we can provide references from like-minded HR professionals willing to share their experiences. Our clients love the networking and buyers get to hear authentic opinions."
Learn more about how advocates have impacted Namely's business in this case study: Namely Finds Hidden Advocates, Growing Their References 10X.
About Influitive
Influitive is driving the shift from company-centric marketing to advocate marketing. Influitive helps B2B companies to spark, build and sustain a movement behind their brands through the voice of their most passionate advocates. Influitive's advocate marketing platform is purpose-built for driving deep human engagement at scale – persistently engaging customers, employees and partners to participate wherever advocacy happens. Influitive makes marketing investments better, giving companies an overwhelming advantage in expanding reach, accelerating sales revenue, and increasing customer retention and growth. To learn more, please visit www.influitive.com.
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SOURCE Influitive
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