DIGITAL STARTUP SOCIETY BLOG — Building an Online Community

According to the stats, it only takes most membership communities and groups about four months to break even on the initial investment when starting and running an online brand community for business.  In addition, a 2014 online communities benchmark report found that nearly two-thirds of companies manage some form of an online community, and the bigger your company is, the more likely you are to have one. However, don’t let that intimidate you. Bigger isn’t always better.  These communities are used to test and improve their products to serve their target audience better. Thus, allowing the business to save more...

Using communities to promote your products is by far one of the most effective ways to increase your revenue and loyalty to your brand. Sharing products within your community, or similar ones as an affiliate, is successful because the people within these groups are already interested and likely looking to purchase.  However, just because you share the products doesn’t mean it will automatically be successful. Sometimes you need to think creatively to promote your products without being so direct. Over promotion or creating content that looks too much like normal advertisements won’t get you anywhere. In fact, that will likely...

Research and statistics show that you must have a competitive edge to make it in business. No businesses succeed without fierce competition, especially with the advancements in technology and online communication.  The truth is, many of these exciting advancements destroyed common barriers to entry that most businesses had in the past – meaning you can start a business with next to nothing. Unfortunately, due to that, the competition only gets worse as more tools and resources are created.  Building a community around your brand will provide you with a competitive advantage because customers are increasingly dissatisfied with the kind of...

Communities provide more to your business than just brand awareness, credibility, and loyalty. A branded community also offers more potential to increase your business revenue. And hey, you want to make money, right? I mean, that is part of the reason to start a business.  The possibility to increase your revenue means building a brand community is not something you should avoid or skip over, even if it sounds like a lot of work to you. It can be a lot of work, true, but the payoff is enormous if done right.  Communities offer one of the largest returns on...

Building a community is today considered one of the biggest industry secrets to growing your business. There is good reason this is true too, the fact is, communities foster the power of word-of-mouth marketing through member-to-member engagement and turn influence into dollars.  Community building is a crucial strategy that promotes trust, increases your credibility with your member size, and boosts revenue exponentially. Without word-of-mouth marketing or community involvement, many people won’t make a purchase or contribute to the success of your business because most people often rely on positive reviews or social proof before they feel confident purchasing or getting...