Written by: Anna-Karin Lingham, Executive Contributor
Executive Contributors at Brainz Magazine are handpicked and invited to contribute because of their knowledge and valuable insight within their area of expertise.
We all know that there is value in people talking well about our brand.
But how much is it really worth? A little? A lot? Is it even critical to some brands?
I´m confident that your company has a marketing budget that covers both traditional marketing and social media. You have valued which channel will give you the most value for your money, how often you need to be present in each channel, you have set your campaign themes and your always-on-messages.
Did you include your brand ambassadors in this budget? Influencers would likely be a part of it if you work with them, but what about your colleagues? Their voices and vibes as they interact with clients, family, and friends might have a great value.
How much? Well, let´s play with a simple example, to put some light on the value of personal voices.
Let´s say that there are 100 coworkers in your company. Each of them has, on average 5 valuable personal interactions each working day. There are 200 working days each year.
100 coworkers x 5 interactions per day x 200 working days = 100 000 interactions per year, with a chance to create brand value.
Let´s assume that each personal interaction is worth 20 times more for the brand than if the client had seen a product ad in the newspaper. In that case, the personal interactions equal 2,000,000 client attentions of the ad.
If we would buy adverts to create this spread, they would probably cost at least 0,1 Euros per attention in a national newspaper. That would add up to 200,000 euros. So our 100 coworkers create a value each year which equals 200,000 Euro in adverts. And their salary is already paid for!
This is just an example, of course, but if you add your own numbers to the calculation you will get a sense of the value for your brand. Can you afford not to make the very best out of it? Your coworkers are already there. Some are really engaged, love their job, and would appreciate even more tools to spread the vibes and rumor about your brand to their own networks. But some may not be as happy at work. Then you must be aware that they probably decrease the brand value with each interaction. The happy voices raise it. The not-so-happy voices lower it. You need a strategy for the different kinds of voices.
You will find brand ambassadors in many different shapes—your CEO, your spokesperson, clients, suppliers, coworkers, influencers, friends, and family. Imagine the value of all the interactions that they have each year. It´s like a golden mine, ready to be discovered, uncovered, and savored.
The gold is there for you. Bring out your spade!
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Anna-Karin Lingham, Executive Contributor Brainz Magazine Anna-Karin Lingham is a branding expert with a great interest in both business and people. Since more than twenty years back, she has worked with marketing, branding, and business development both in Sweden and in an international arena. She has had leading roles in companies like the Axfood group, the global premium brand Hästens Beds, the health company Apotek Hjärtat and the sports fashion brand Björn Borg. She has launched the concept of Ambassador Branding, where corporate and personal branding meets great financial results, strong job satisfaction, and brilliant ambassadorship on the market. Anna-Karin has been appointed Mentor of the year by the Stockholm Marketing Association. She has written a guidebook in personal branding and is an active business developer, speaker, and mentor. She is also an artist and outdoor adventurer, with a special fondness for high mountains. Her mission is to help companies and individuals to open their own windows and take place in greener and greater arenas.
