Building Customer Communities for SMB Growth
We all share the goal of providing exceptional customer experiences and fostering mutual growth for our businesses and customers. As a B2B business, you possess a unique opportunity to amplify the success of your SMB customers through customer communities.
Forrester's earlier research showed that 60% of businesses had established a branded online community, and another 15% were preparing to launch one soon. This trend is on the rise now. Leading companies like Salesforce, HubSpot, Mastercard, and Oracle have active customer communities that empower their customers to seek peer assistance, connect with more experienced business owners, and gain deeper insights into your solutions. Lumen, among others, is known for its reward system for community members.
These communities offer substantial advantages for your SMB customers, such as:
Knowledge Sharing: Your customers are able to access a wealth of industry knowledge and product insights from peers in the online community. Marketers and sales professionals strongly favor the Pipedrive community. Users can access multiple channels where they can get advice from experts, post job queries, and seek help regarding the product and network.
Peer Support: In customer communities, customers find immediate assistance and guidance from peers, often resolving issues before reaching out to customer support. These interactions build a strong sense of community among your SMB customers.?
Collaboration Opportunities: 66% of users engage in online communities to connect with people with similar interests. Beyond sharing services, communities reveal partnership and growth opportunities among like-minded business owners. The Markped - Zapier community is a prime example, offering expert sessions, collaborations, challenges, and networking opportunities.
Direct Benefits to Your Business:
Brand Loyalty: ?
Active engagement in the community forums not only serves as a resource for customers but significantly boosts brand loyalty. Statistics show that 58% of online communities experience heightened brand loyalty, with branded communities outperforming social media communities by 16% in fostering loyalty.
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Direct Feedback: Direct feedback from community members is invaluable. 90% of communities have used suggestions to improve products or services, fostering a sense of co-creation and belonging that fuels innovation and long-term loyalty. The prime example is Microsoft's Windows Insider Program, which allows users to sign up for pre-releases and directly provide feedback and suggestions to Microsoft.
Cost Efficiency: Self-help communities reduce the strain on your customer support, minimizing operational costs with fewer support tickets and a high deflection rate.?
Extended Reach: An active community amplifies your brand reach, attracting new prospects. Branded communities report a 72% increase in website traffic and a 57% increase in brand SEO. HubSpot's success with user-generated content and engagement is a notable example.
These benefits highlight how customer communities can help your business and SMB customers connect, grow, and build strong partnerships. The current landscape presents an ideal opportunity for you to initiate and nurture such communities, leveraging their potential to the fullest.
Beyond community building, you are addressing your SMB customers' crucial need for funding, positioning you as an invaluable resource, and enhancing your role as their most reliable and supportive ally.
With Loanspark’s Business Lending as a Service, you can offer a comprehensive range of lending products to your SMB customers without being a lender.
By partnering with Loanspark for branded embedded business lending services, you're leading the charge in transforming how SMBs access and manage finance. Our partnership is more than a business strategy; it's a commitment to empowering SMBs while simultaneously propelling your company to new heights of success and influence.
Partner with Loanspark and unlock unprecedented growth and opportunities in the SMB sector.