What is customer advocacy in SAP CEC-MKT-LOY - SAP Loyalty Marketing?

SAP Term: customer advocacy

• Component: CEC-MKT-LOY

• Component Name: SAP Loyalty Marketing

• Description: The refer-a-friend-feature for a loyalty storefront.

Smart SAP Assistant

• Key Concepts: 
  Customer advocacy is a marketing strategy that focuses on creating relationships with customers and encouraging them to promote a company’s products or services. It is a way of leveraging existing customers to create new customers and increase brand loyalty.
  
  How to use it: 
  The SAP Loyalty Marketing component of the Customer Engagement and Commerce suite can be used to create customer advocacy programs. This component allows companies to create loyalty programs that reward customers for their loyalty and encourage them to promote the company’s products or services. It also provides tools for tracking customer engagement and measuring the success of customer advocacy programs.
  
  Tips & Tricks: 
  When creating a customer advocacy program, it is important to focus on creating relationships with customers rather than just offering rewards. Companies should also focus on providing value to customers by offering exclusive discounts, access to special events, or other incentives.
  
  Related Information: 
  Customer advocacy is closely related to customer loyalty programs, which are also used to reward customers for their loyalty and encourage them to promote a company’s products or services. Additionally, customer advocacy can be used in conjunction with other marketing strategies such as content marketing, social media marketing, and email marketing.