Word-of-mouth grows revenue.

One of the business benefits of treating stakeholders fairly is it helps to engender genuine word-of-mouth (WOM) referrals and recommendations. The businesses which have WOM included as an important measurement in their organisation’s metrics are likely to be interested in recent research analysis by The Boston Consulting Group (BCG) which has concluded that, “The revenue growth of the brands with the highest advocacy levels is far above the industry average”.

The big question BCG asks however is how to drive brand advocacy and reach key influencers. "Innovative approaches, e.g. attempts to make the brand go viral and create a YouTube phenomenon have sometimes been successful but the commercial benefits have been less clear".

This suggests that these organisations are looking for the quick fix and short-term solution that can create a limited, but exciting, digital buzz. Perhaps one of the best ways to build sustainable, authentic and meaningful advocacy is through a solid strategic and cultural approach to fair treatment and transparency which over time will help to build trust.