Introducing Network Insights
What is Network Insights?
Network Insights reveals hidden networks of fans growing in your base by adding the lens of referral data.
See and communicate with your customer base in a completely different way, allowing you to create differentiation through great experiences rather than product and price.
Drive more value from your base by identifying, growing and nurturing profitable groups of fans who will help grow your brand in a more sustainable way.
How do I see my Networks?
The Network insights dashboard can be found in the ‘Advocacy Intelligence’ > ‘Network Insights’
The top of the page contains some key information about the number of networks and customers in networks.
Below this you can see visualisations of your best ten networks.
How do we decide the best networks?
We identify your best networks by ranking them using multiple different characteristics. The network characteristics we consider include amongst others: the Network revenue, Average number of orders per customer, Average Individual Customer Revenue (ICR), Network Size and Longest Referral Chain. The ranking formula itself is a complex weighting and ranking system with the aim of identifying the best networks which nurture advocacy and are the most valuable networks to you.
What are the Network characteristics?
Network revenue: The sum of the revenue from each individual in the network (all time).
Average number of orders per customer: The total number of orders in the network (all time) divided by the Network size.
Average ICR: (Individual Customer Revenue) The Network revenue divided by the Network size.
Network size: The number of customers in the network.
Longest referral chain: The longest continuous referral chain within the network. Having long referral chains in your networks indicates that your customers who were referred themselves are keen on advocating further on your brand's behalf.
How do I read what I’m seeing?
These show that a single referrer has been responsible for an explosion of referrals in a network. These are your key individuals which you want to pull out and target from your customer download. They are influencers in the network and it’s worth understanding more about them from your own data and treating them as VIPs.
This shows that each referee is then referring to one person in a chain of referrals. This is a good sign as it indicates that referees are happy to refer again.
It can also be a useful indicator of gaming, if the average order is only one and there are no other shapes in the chain it could be an indicator of gaming worth exploring.
NB. In this case it's fine as there are a high average number of orders and other shapes in the network.
How do I use the data available?
Network Characteristics Download
We can show the top ten networks based on our ranking in the portal. For those on our Optimise, Advanced and Ultimate packages, you can explore further to better understand what networks are forming in your client base. This download gives you all the networks and details including who started it to allow you to do that.
Network Customers Download
For those on our Optimise, Advanced and Ultimate packages this download allows you to extract who is in which network, this can be uploaded into your CRM or CDP and explored to understand what makes the top networks' customers tick and to begin targeting your networks with personalised experiences based on your findings to keep them engaged and growing.
What are the data requirements?
To produce these visualisations and data we have some minimum data requirements. For Network Insights we need:
- 1 year (no gaps) of order data
- 90 days of referral
- For subscription based businesses we would additionally need a regular feed of subscription orders (e.g renewals)
- What package is required for access to the feature?
- Network Insights charts are available on any package.
- Access to the downloads are only available on Optimise, Advanced and Ultimate
- How do I provide feedback?
- Contact your CSM today to send feedback or reach out to our product team directly firstname.lastname@example.org