Digital communities are becoming the cornerstones of every business. A recent study led by the Wall Street Journal indicated that adults in the U.S. spend approximately 16 hours per day on social media. With so many options everywhere, people are looking for the common threads of connection, genuinity with people as well as brands that relate to them.
The most successful businesses are built organically. Word of mouth is powerful. This is why community is so valuable. It could come in many forms: surveys, pages, private groups or a collaboration of each. In pursuit of outlining the new normal, businesses and people are inclined to serving and engaging communities.
- Scope of influence.
The influence of community management in marketing is powerful. It’s about focusing, creating, developing and taking steps according to your community. It’s community responsive.
Ad platforms include: live streams, webinars and engagement.
The co-founder of Binance and CMO, Yi explains, “Building a community takes time and it’s worth it. Personal connections with a community is vital to ensuring continued growth. That includes responding to issues and taking feedback into action which require strong collaboration with customer support and product teams.”
The secret to creating a purposeful community is to be transparent. This builds trust, and results in compound interest and competitive advantage. This strengthens the community over time.
Another secret to virality is interaction and engagement. It allows customers to have personal connections with a company, which translates to exponential engagement and loyalty to your brand.
According to Yi, “Community marketing requires knowing what your customers need and care about, and what they don’t care about too. Ultimately, focus on customers to deliver products and services they want, need and will like.”
- Brand responsiveness and innovation.
According to Nielsen, 92 percent of customers believe suggestions from friends and family more than advertising. This word-of-mouth marketing is the most powerful tool a company could ever use. Especially because it’s tried-and-true to the user – and not a random advertisement. Particularly in our digital age and with the limitless options everywhere. This is true for me too. When a brand is activated; it results in customer loyalty.
- Community management.
It’s a good idea to use community as a means of product iteration and development by keeping tabs on requests/feedback.
Yi adds, “when this approach is optimized, it ensures the delivery of community-driven products and services that cater a company’s core, its users/customers. Great products and services are built by communities, not a one-directional approach.”