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If you haven’t put “building a thriving community” at the top of your business goals, it’s time for a serious change.
A strong community is like a superpower for your business. When done well, your community will help move people along your customer value journey from awareness to promotion.
Now Artificial Intelligence (AI) is rapidly changing the business landscape, making mere information less valuable. It’s easy to think that machines cover everything. But no matter how smart robots get, nothing can replace the human connection we crave.
Not convinced yet? Let me list 5 undeniable benefits of a thriving community. If you don’t pay attention to the fifth, your business will struggle to survive.
#1 Get More Customers
A thriving community is like a magnet for new customers. It has the power to attract the right leads, quickly build trust and convert them into buyers.
Have you ever heard of FOMO? It’s the “fear of missing out” and let me tell you, it’s a real thing. People see a bustling community, and they can’t help but want to join in.
Once they’re in, they’re surrounded by social proof of other community members who trust you and are enthusiastic supporters. It is natural for them to follow the crowd. This means that existing members’ trust in you easily transfers to new community members.
That rapid momentum of trust will ultimately lead to more conversions for your products, programs and services.
Example:
Take Harley-Davidson, for example. They don’t just sell bikes; They sell lifestyle. Harley owners don’t feel like they’re part of an exclusive club, they feel like they are. It is called HOG (Harley Owners Group). It is home to one of the largest motorcycle owner communities in the world.
HOGs have local chapters that organize events, rides and rallies that not only bring together current owners but also attract future owners. When people see and experience the sense of belonging and camaraderie that comes with owning a Harley, they want to join the ‘Harley family’.
#2 Retain customers for a long time
I recently worked with a client to survey their long term members. When asked what she liked most about her online membership, the answer was the community.
It has long been known that it is much cheaper to retain a customer than to find a new one. Getting more conversions is great, but the real money is made in retention due to the impact on customer lifetime value and profit margin. Retention is your ability to retain your recurring revenue customers for a long period of time or motivate your current buyers to become repeat buyers.
A thriving community creates a deep level of connection that is really hard to break away from. Plus, it helps buyers get more results from your programs and products.
More results lead to happier customers who want to buy more from you and access your higher-end offers.
Example:
Let’s take a look at Lego. By creating a community where fans share their custom creations, they turned customers into lifelong fans. Those brick-loving enthusiasts keep coming back for more because they’re part of a larger community that makes collecting those little bricks much more than just a hobby.
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There are clubs called Lego User Groups (LUGs), where children and adults, known as AFOLs (Adult Fans of Lego), can show off their creations. Young builders get the chance to be part of an exclusive squad with the LEGO Life app and magazine. Imagine a clubhouse, but in an app, where you can share your Lego creations and even take on fun challenges.
LEGO also hosts events like Brickworld, where you can gather in person with other LEGO builders of all ages to watch adorable builds, trade bricks, and connect with other builders like you.
All of these community connections and programs keep their customers – both young and old – engaged with the brand and continuing to buy and build new LEGO sets and designs.
#3 Build enthusiastic fans
Thriving communities create enthusiastic fans who buy and promote everything you sell. They’ll wear your stuff, promote it on social media, and drive their friends to your store.
When you have a strong community, the people who are a part of it can’t help but spread the word. They feel as though they have an invitation to something really special that they are proud to share. They become customer evangelists.
That’s why active community members are your best advocates, spreading the word about your programs, products and services to friends, family and your circle of influence. When they do, those they invite into your world are more likely to make a purchase than people they discover from elsewhere.
The trust you’ve built through your community is now transferred to the new person in your business. This leads to more conversions and the cycle continues. That’s why word-of-mouth is the most powerful marketing and it’s free!
Example:
Imagine you’re heading to the gym and everyone is cheering, not just the super-fit people, but everyone. That’s the magic of the CrossFit box, where gyms are like a second home and fellow CrossFitters are family. They sweat together, compete fiercely and sometimes just hang out after a tough workout.
Have you ever seen pictures of people lifting weights, captions showing #WOD (workout of the day) and motivational stories of getting in shape? That CrossFit family is showing off and, guess what? It’s Contagious! The friends wonder if they too can be a part of this community.
And it’s not just about the muscles; This is a matter of the heart. CrossFitters share values like never giving up, supporting each other, and being the best version of yourself.
By fostering a cohesive community, fostering shared values, and creating exciting events and social experiences, CrossFit has built an army of brand advocates who live and breathe the CrossFit lifestyle. This passionate advocacy helps CrossFit grow and attract new members.
#4 Decrease Customer Support
Your community can be like your own customer support team,And they don’t even need to be on your payroll. When customers have questions or run into problems, it’s often other members of the community who come up with solutions.
When a customer is stuck or has a question, other members of the community step in like superheroes to save the day. This is what we call peer-to-peer support, and it’s a big win for everyone.
Here’s why it’s amazing: First, it’s insanely fast. No one has to wait forever to get help as fellow customers know their stuff and can solve problems quickly. Second, they know all the best tricks for getting the most out of the products, as if they had a friend who is an expert.
Plus, it feels more personal, like getting help from a friend who’s been helping you.
What else? Business owners save money because they don’t need a large customer support team. The community has got it covered! It’s like a dream team that is always ready to help.
Example:
Imagine having a group of smart friends who can help you when you get stuck with Microsoft products. Microsoft’s community is like that.
In the Microsoft Answers community, regular users and super-smart MVPs (Most Valuable Professionals) exchange tips and answers.
For tech wizards, there are special hangout spots called TechNet and the MSDN Forums. It’s where computer professionals come together to solve complex technical problems so that they can better serve the larger community.
This team effort means faster support for everyone and a huge load off Microsoft’s shoulders. They don’t need a huge team to answer questions as the community has it covered.
Often, issues are resolved without raising an official support ticket. It’s like having a bunch of technical experts ready to help at any time, making things easier for everyone involved. Microsoft just sits back and watches the stars of its community take to the stage, saving big on customer support.
#5 Develop Better Products
It is a game-changer and in my opinion, the future of product creation. Your community is a goldmine of insights. Who can tell you what your next product or service should be or how to improve existing products better than the people who use them?
Imagine you have a pool of creative minds actively using your products and services. These are people who have seen firsthand the challenges and opportunities in your offering.
By creating an environment where community members can freely share their ideas and feedback, you are essentially crowdsourcing innovation. This organic exchange of ideas can lead to enhancements to your existing products and services, and even the creation of new products.
Chances are when you’re intentionally getting customer feedback early and often, the more aligned the products and services you create are with your customers’ needs. And if they’re not in love, you’ll be able to turn around fast before the effects reach your bottom line.
When members contribute their insights, they become more invested in the success of your business. They feel a part of the process, and this sense of ownership further strengthens their relationship with your brand.
Example:
Cassie Ho, the fitness guru behind Blogilates, is a prime example of harnessing the power of a thriving community to create better products. Keeping the insights of their community at the forefront, they launched PopFlex Active, a community-driven line of fitness apparel. How? Keeping your ear to the ground.
Cassie chats with her followers to find out what they really want in workout gear. He was informed about the perfect fit, great design and essential features.
Next, he got his fans in on the action during the design phase. They were his sounding board, giving the prototype a thumbs up or down. And voila! Popflex Active was born,A collection that is in line with what the women of her community want.
Cassie continues to listen to the desires and challenges of its community, create products that solve them, and share each step of the process with its community.
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Learn how to develop meaningful relationships with your customers and automate the customer acquisition process.
Click here
Cassie’s playbook shows that when you have the support of your community, you can hit a home run in product creation. This is crowdsourced creativity at its best!
Open the door to success with a thriving community
For businesses seeking sustainable growth and a solid foundation in today’s competitive marketplace, investing in building and nurturing a thriving online community is a surefire strategy.
It’s your secret weapon for attracting customers, keeping them happy, and turning them into raving fans. But not only that – they’re your guide, help you with product development, and they’re your unofficial customer support rock.
So, if building a thriving community isn’t at the top of your to-do list, now is the time to pick up a pen and get started revising. Your bottom line will thank you.
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