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 customer care they are receiving. A branded community can help you provide better customer care because as you build a community, you’re also building relationships that advance trust, which increases your ability to influence sales.
The following are a few ways community building helps you stay ahead of your competition:
- Through Strong Member Connections and Relationships – People like feeling as if they belong to a community. Unfortunately, building community in our private lives is harder than ever. Everyone is busy, but creating these customer-centric communities can make your customers feel more connected not just with you but with the other customers as they converse and comingle.
- By Being a Source of Endless Lead Generation – Every single person you get into your group is a source of more members. Because of this, once you start building a community, your reach will increase as your leads grow.
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- Word-of-Mouth Marketing – Even if your customers only talk about your products and services inside the group, new members will still see the discussions, which will reduce their fear and help them make a purchasing choice for the products they see discussed within the group community. However, once a member becomes your loyal customer, they will start asking their friends to join them in the community because it feels good to share what’s good in your life.
- Through Community Feedback and Engagement – One of the most important aspects to you, and from your viewpoint as a business owner, is the ability to read your customers’ minds. Of course, you really can’t do that, but by watching the discussions take off that you prompt and experiencing the feedback generated, the information you glean will become invaluable. Eventually, your customers will start claiming you can read their minds, and then you’ll stand far out from your competition.
- By Being Unique, Fun, and Helpful – Face it, most businesses are not unique, fun, or helpful. But you have this amazing opportunity to stand out and be that for your customers in a way that benefits you both.
Overall, community building shows your target audience that you want to support them and their needs. Your community shows, and the information you provide shows them that you are willing to listen to them and serve them instead of your own needs. The more you focus on your target audience, the more you can easily stay ahead of your competition. Which is why building a community around your brand is the competitive advantage your business needs to be successful.