SAN FRANCISCO--(BUSINESS WIRE)--Extole, a leading advocate marketing platform, today released data highlighting the growth in adoption of its solutions as more retailers and financial services companies use Extole to help turn every customer into an advocate. Entering the retail holiday season, Extole’s platform has now recorded more than $500,000,000 in revenue directly attributable to referrals from existing customers and has issued more than 20,000,000 consumer rewards to advocates and their friends on behalf of its clients.
Using Extole, marketers make advocacy central to the customer journey by rewarding existing customers for referring new ones, creating a powerful acquisition channel based on consumer loyalty. Today’s announcement demonstrates not only consumer familiarity with sharing personal recommendations with their friends but also their preference to be rewarded for successful referrals.
This year, Extole’s platform has captured consumer behaviors from interactions across more than 1.5 billion devices and browsers. “The scale of advocate marketing is beyond what many of our customers expect, but it’s not beyond how we’ve designed and built our platform,” said Matt Roche, Founder and CEO, Extole. “Because of consumer distraction, advertising competition, or brand indifference, marketing messages generated by brands increasingly miss today’s audience. One message always gets through, and that’s an authentic recommendation from a trusted friend. We have seen major adoption of this customer-first approach to marketing and are proud to partner with many leading brands.”
“The Extole customer advocacy platform is an exciting part of our marketing and customer acquisition strategy. And, the guidance that their experienced team provides is helping us better engage with thousands of happy Talbots customers to reach new customers. We’re also using Extole beyond referrals to power additional customer-first programs like friends and family campaigns, super advocate programs, and surprise and delight initiatives,” said Daniel Marques, Director of Online Marketing, Talbots.
Extole benchmark data shows that recommendations sent by existing customers have a 10.2 percent conversion rate for retailers. “Extole’s mission is to enable the world’s greatest brands to acquire new customers from their existing ones. Our growth continues as marketers accept that a customer relationship is much more than simply another purchase,” continued Roche.
Brands use Extole to turn customers into advocates. Our enterprise advocacy platform and team of experts create beautiful advocate and referral programs, so brands can harness the power of online sharing to the benefit of their bottom line. Extole enables marketers to connect with millions of advocates, scaling word-of-mouth to acquire new customers and increase loyalty using their greatest competitive advantage: their customers.