Why is a Community so Important for a Brand?
These days, an effective internet marketing strategy would not be complete without a presence in online communities.
According to Forrester, 60 percent of companies already have an online community for their brand, and 15 percent want to do so next year.
No matter what you are offering, one of the most critical aspects of building a successful brand and business is engaging an online community.
If you are in marketing, you are constantly attempting to ascertain your ideal consumer and how to best connect with them. An online community is the best tool for you.
As a result of their community, 55% of brands have seen a boost in revenue and new leads.
Building an online community is beyond a marketing ploy. The process necessitates dedication and perseverance. Good news: If you get this correctly, the rewards will be enormous.
Here are the reasons why an online community is essential for a brand:
Improves Brand Awareness
There is still no alternative to word-of-mouth advertising when promoting a brand. According to recent research, 84% of individuals are more likely to trust a recommendation or referral from someone they know, underscoring the growing significance of social networks.
Your customers or community members will naturally grow due to their desire to give back to the community if you continue to provide value to them. Promoting your brand both inside and outside the community is one way to do this.
Getting the word out about your brand is something you can facilitate through your community members. If they enjoyed your service or loved your products, most likely, they will encourage their friends and family to try your brand.
Get Instant Customer Feedback
If your online community revolves around your brand, it is likely that its members are either already purchasing from you or are interested in the item you sell.
You will get genuine insights into what they like and dislike about your product or service from the feedback they give you.
With this, you will be able to improve your brand based on the feedback you receive, ultimately resulting in an improved experience for your customers. This relationship will benefit both you and the members of your community.
Increases Retention and Engagement
Engagement is a top priority for consumers. This creates a sense of belonging, which in turn enhances customer retention.
Customers also appreciate knowing that their worries and ideas are being considered. They will be more devoted to the brand if they receive a direct response from the company, regardless of whether their ideas are adopted.
It has been shown that most customers are willing to "pay a premium" for a brand that they have a personal connection with. For example, Glossier says that 90% of its sales come from repeat clients.
You may also read: 7 Ways to Improve your Online Community Engagement
Build Strong Relationships
Online communities are not simply a place for customers to get help; they are also where real people can meet and form genuine friendships. This form of relationship-building, in which trust is built through time, is essential for companies because it fosters loyalty.
When building an online community, it is critical to approach it from many angles. Be aware that your clients are not just using Facebook or email, so tailor your strategy accordingly.
Advantage over Competitors
Your client's feedback and perception of value will help you stand out from the rest. Create value for the customer by taking the time to discover what sets you apart from your competition.
Reduce Customer Support Costs while Increasing Sales
Businesses of all sizes can benefit from anything that boosts revenue or reduces costs. Using branded online communities, you can accomplish both of these goals.
A study by the University of Michigan in 2012 found that people who participate in online communities spend 19 percent more money than those who do not participate. Increased readiness to pay a premium and increased buying intention were cited for this rise.
Meanwhile, industry executives have often stated that they have lowered their support expenses due to the online community. Community members are now able to fix each other's problems instead of contacting the company's support personnel.
To create a thriving online community, you will need to put in a lot of effort and be patient. Try not to get disheartened because getting the desired results will take longer than a few months.
The days of a one-way street in brand-consumer communication are over, which is fantastic news. Many well-known brands are already heavily influenced by their communities, and that influence will only grow in the future.
If you reach the end of this article, you should definitely build a strong online community for your brand now. You may try Backspace. We provide all tools and support you need to create an online community that generates sales.
What’s a Rich Text element?
The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.
Static and dynamic content editing
A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!
How to customize formatting for each rich text
Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.