Would you rather have a customer that spends $100/week but doesn't tell their friends about your brand or a customer that spends $70/week and tells all their friends about the wonders of your brand?
Obviously having the customer that only spends $70 per week but becomes your brand evangelist is worth more. THIS IS WHAT PROPELS A BRAND AND GIVES IT VELOCITY.
Defining brand velocity is critical:
Velocity = (Reach X "Passionate Participants") Less Churn.
Creating brand velocity is more difficult. You have to discover that magic bullet that will give your brand velocity. Below are three ways to discover your brands' velocity.
1. Listen to the conversation in blogs about the key topic that is impacting your customers.
2. Observe how your customers are behaving while they use your product/service.
3. Ask your customers if they would recommend your brand to a friend and listen to find out why or why not.
Feel free to comment.
Jeff Fromm
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