How Community Drives More Revenue For Brands
A common mistake many brands make is launching a product and thinking it's going to sell itself, and relying solely on social media and cold traffic to sell.. Driving revenue goes far beyond the products you launch, it's about how your brand makes the customer feel. In order to make your customer buy your product they must feel connected and engaged with your brand.
So how do brands create this engagement? This is the question many brands are facing with the evolution of traditional social media…
Social media is great for exposure, but it has become oversaturated and brands have lost the ability to drive quality engagement and conversation. With this said, brands shouldn’t abandon Instagram or Facebook, as these platforms are still very beneficial in an overall marketing strategy. However, every brand should strive to create a quality private community on a platform that gives them ownership and their audience’s full attention. Especially for their existing customers.
So why create a private community? Quality conversation and engagement with customers significantly boosts revenue.
In my experience with DTC (direct to consumer) sales, the majority of the time, a private webinar with less than 100 people will drive far more revenue than an Instagram post from an account with over 200K followers.
Why? Webinars give brands the ability to deliver tremendous value, build trust, and directly engage and communicate with their communities. Brands have the customers full and undivided attention, in a highly interactive setting. This gives brands the opportunity to connect with their customers and personalize their experience.
Creating a private community gives brands the same opportunity. By interacting with their customers on a daily basis, brands can listen to their customers and gather real time feedback. They can also ask their community questions, answer customer questions, launch polls to learn what their customers want, and more to help them provide the best customer experience possible, and deliver what their customers want.
This direct engagement between brand and customer makes the customer feel like they are a part of something bigger, resulting in greater customer loyalty. Loyalty is critical in driving up the lifetime value of a customer, which increases revenue. In an extremely competitive DTC landscape, it is critical for brands to create engaging communities because if they don’t they will lose their customer to a competitor who does.
By engaging in conversation with their customers through community, brands are able to significantly increase their revenue. It’s important that every DTC and personal brand understands this, and strives to build a community on a platform that allows them to do this optimally.
Email marketing is a tool brands use successfully for this, but it is one way and not interactive. There is a huge gap in the market for a product that gives brands and community members the interactivity and functionality of social media, with the ownership and direct touch of email. Grouped will fill this void and be a powerful tool for brands to use to increase revenue. Coming soon…
To sign up to use Grouped's BETA in Spring 2022, and get the product free for life, click here.