Ep 86: 5 Undeniable Benefits of a Thriving Community

Oct 10

The 5 Undeniable Benefits of a Thriving Community for Your Business

Is a thriving community really all that beneficial for your business? As the community gal, I'm here to tell you a resounding yes! In this episode, I share the five undeniable benefits of having a thriving community for your bottom line. Whether you're already convinced or still skeptical, these key takeaways from the episode will shed light on the power of community in driving customer acquisition, retention, support, and product development.

More Customers:

A thriving community has the power to attract new customers like a magnet. By creating a strong community, you can gain trust quickly and convert potential customers into buyers. Just like the Harley Davidson owners group, a thriving community creates a sense of FOMO (fear of missing out) and entices others to join.

Keep Customers Longer:

Keeping customers is more cost-effective than acquiring new ones. A thriving community helps to deepen connections, create memorable moments, and provide social proof, leading to happier customers who stay longer. LEGO's lifelong community journey is a prime example of how a community can foster loyalty and attachment to a brand.

Raving Fans and Referrals:

A thriving community cultivates raving fans who become brand evangelists. These satisfied customers are more likely to refer others to your products and defend your brand online. Their belief in your program grows, and they become the first to buy new offerings and attend live events. CrossFit's passionate community showcases the power of raving fans in spreading the word.

Reduced Customer Support:

A thriving community can serve as a support department, reducing the burden on your team. Peer-to-peer support within the community provides instant answers and fosters a sense of connection and support among members. Microsoft's MVPs and their community-led support forums demonstrate the effectiveness of this approach.

Better Product Development:

Engaging with your community allows you to develop products that meet their specific needs and desires. By gathering feedback through member surveys and ongoing communication, you can continuously improve your offerings. Casey Ho's Popflex Active brand exemplifies the future of community-driven product development, where the community's input shapes the brand's direction.

A thriving community offers undeniable benefits for your business. From attracting more customers and increasing retention to reducing customer support and developing better products, the power of community cannot be underestimated. If you're not convinced yet, I encourage you to listen to the full podcast episode for a deeper dive into these benefits and how to create a thriving community for your business.

When you’re ready to create or uplevel your community for your business, make sure to dive into my Community Creators Hub for free resources to help you get started.