Chapter 24
Rewarding
Money Can't Buy Real Advocacy
Awhile back, I was pitching the Zuberance story to one of Silicon Valley's top venture capitalists. This guy's company has bankrolled some of the best-known, most successful start-ups. He's on a first-name basis with Mark, Sergey, and Larry.
But he wasn't buying my story. No matter how much third-party data I showed him, he just couldn't imagine that companies could get their customers—even their Brand Advocates—to recommend their brands or products without giving them cash, freebies, or discounts.
Finally, I asked him this question:
“The last time you went out for dinner and had a fabulous experience, did you tell a colleague or friend about it?”
“Ummm,” he said, scratching the stubble on his chin and squinting his eyes. “Yeah, I did,” he said grudgingly.
“And did the restaurant pay you or give you a free meal for your recommendation?” I asked.
“No,” he said, somewhat indignantly. (No one can buy his advocacy. Money can't buy VC's love, right?)
He went on: “I recommended the restaurant because I really enjoyed it and wanted my friends to enjoy it also.”
Game, set, match!
(By the way, I refused the temptation to point out to the VC that our meeting was a result of an unpaid word of mouth referral.)
No Money Down
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