A few days ago, a friend and I had a long discussion over a couple of beers on how brands have become parasites these days. We argued many of them do not have their own characteristics or persona but survive basis on someone (some celebrity, invariably) else’s.

In Indian context, virtually any Television Commercial that you set your eyes onto has some celebrity or the other. Sometimes it so appears these artists does not have any work other than endorsing brands around. I wonder, how I still remember Nescafe Jingle! Endorsement based marketing is one of the key reasons that made me hate ATL programmes.

Marketing activities focused on value-to-customer-value-to-organization, share-of-wallet, product holding ratio, profitability, etc are subjects are dear to me. The role of the title i.e., ambassador do exist in the realms of Below-The-Line marketing as well, however, a decent and meaningful one.

We are all witnessing the gradual death of marketing as we know it. BTL (Below the Line) activities are getting the much deserved prominence in the last few years, thanks to all those woken-up eyes.  Marketers have stopped their ‘Acquisition’ chants every morning and have started practicing meaningful ‘Retention’ slogan since the last few years. And, its time we figure how retention based marketing strategies can help you acquire new customers – A question that I keep hearing at quite a few marketing offices.

Let me start with a scenario – If you are planning to go for a Home Loan, I am very sure you will be talking a few of your friends or relatives, gather as much information as you can and approach the some financial institution and weigh your options. At the stage of weighing, the inputs you got from your friends are going to play a significant role, significant to an extent of defining your consideration set. Sounds quite obvious, ain’t it?

Now My Dear Marketer,

How many times have you realized, the customer you are winning today is your not-so-directly-known-brand-ambassador tomorrow?  And, you are not blowing all hard-earned bucks on this ambassador but can leverage value from him?

Thinking?? I see..

Folks, I am trying to connect the art of customer retention to new acquisition. Leading organizations like yours should have concerted efforts going into winning new customers by serving the existing ones better. How about transforming the well-served customer to an ambassador to win a new ones? – Oh Yes! I am stretching the realms of Loyalty MGM programme equivalent in customer acquisition, rather on fairly large transactions.

A set of qualified existing customers can be turned into an ambassador, a virtual agent helping you acquire more customers thus market share. Well, what he gets in returns?

Something truly monitory – Waive off his tenure by X months basis the loan disbursed to the customer who got acquired through him/her.

It will be a true disaster if you mess it up by asking the referrer to sign surety documents – Yes, it did happen at one case. Underwriting is part of your Risk Department’s job, not his. I am very sure of him doing a great job as an ambassador.

And, remember to note the monies you are spending on this Ambassador are measurable unlike the silver-screen celebrities.