Why is a community-driven approach important for businesses?
“Alone we can do so little, together we can do so much. Build bridges instead of walls”.
Communities are an integral part of our society. Today businesses are leveraging the power and passion of their own community and adopting a community-driven approach to engage in a meaningful conversation with their customers.
In this digital time, the current shift in the audience from millennial to Generation Z (GZ )is already having a huge impact on businesses as the GZ has a completely different mindset and with their advocacy for freedom and need to express their needs through various digital channels are making businesses to change their business strategy in capturing their attention and their loyalty…etc.
One of the biggest changes that everyone can see is how the co-working community is revolutionizing the way businesses work these days; community-driven companies are engaging with the global co-working community to benefit their business.
Cultivate a relationship with your community; respecting your customers and collaborating with them is the key to running a successful business.
Today all the big social media platform and agencies are championing the community-based approach leveraging the benefits Community Data-Driven Organisation (CDDO)
Some key benefits for Community Data-Driven Organisation (CDDO)
Promote Interaction and communication. If you have a community, the interaction among users is encouraged. In this way, communication between client and company will also be encouraged, and you will be able to maintain a more solid relationship.
They give customers a voice — to help companies improve, innovate, and evolve the products and services that customers want. Communities let customers find answers themselves and answer the questions of others.
Creating and Maintaining your brand power. Having an online community gives personality to brands. Through your posts, you show yourself, and your community likes it. The communities mirror tour company values, ethics, and way of working are It is a way these are what bond the audiences and brands together…. The quality of the data will enable you to make better decisions …depending if you own that community or not…
Building Loyalty through retention Staircase. People will begin to associate with the brand and there will be a strong level of adherence. It creates an opportunity for your users to become brand ambassadors and help you to promote tour products across social networks. A productive community has quality followers instead of massive volumes of followers., they will add value to your products and they will trust you and recommend what you do to their friends in the network. The quality of your people and the engagement will make your audience stickier to your brands hence reduce the churn rate
Business Growth. With the correct engagement strategy, you should progressively move towards a more organic growth in your client base and couple with leveraging the learning to personalize your offers, comms, and recommendations you should have a continuous pool of potential customers continuously feeding your sales channels and scale your revenue ...
With the growth of the quality of your community, incremental revenues opportunity will be born. People and organizations will like to work with you. User-generated content will strengthen the positioning and will become your ally in turning your organization a leader in the sector ….
A community has the unlimited capability of turning your business into a global enterprise if you leverage its powers and cultivate that bond together. The need of the hour is to invest wisely into building your own community; fostering a culture that values relationships will translate into higher profits.
key questions for everyone to reflect on.
Do you think today that the different social media platforms where brands are busy spending huge amounts of money in trying to mimic a community and enrich these social media platforms will deliver the above benefits ….?
Check out Cohora solution at https://cohora.com/, how we can help you to achieve the above benefits and more…