What we call in our business “success story marketing” is regularly referred to among Fortune 1000 companies as “client reference marketing.” I like our terminology better because I think it sounds more fun and exciting, but that’s not the point. The point is success story marketing is a large and growing discipline and it’s being validated by the Fortune 1000.
Since these folks have large budgets, they also have the time and resources to measure the efficacy of their programs. And venerable research firms like Gartner and Forrester study them as well. One of Gartner’s research directors, Richard Fouts, presented a webinar recently highlighting some of his findings on the use of success stories. A few interesting points:
• #1 thing that influences a customer to buy is a customer reference story (2.5 more times likely to buy when a company can articulate value with a customer reference.) References validate the solution and reduce risk.
• A CIO Insight study found that decision-makers buy 25% faster when provided with good reference stories.
• Customers love to participate. They appreciate incentives and rewards like advance notice of product development, tradeshows and publicity features, co-marketing campaigns, free attendance at events, and speaking opportunities.
So don’t worry about what to call them – client success stories, customer references, profiles, case studies – all of these are fine. Just make sure you have them and are ready to use them. If you need more guidance on how and where to start, visit the “ideas” tab at our website and download our free eBook.
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