The widespread consumer network is affected by each other's experiences. Thus, companies must surpass the expectation of the community as a whole.
Businesses thrive when they can effectively woo their customers and in today’s world, buyers are not seen as isolated individuals; rather, the internet has brought them together into a vibrant community. These customer segments are free from geographical boundaries. They are born out of shared interests, consumption patterns as well as purchase behaviours. Just like the close-knit gaming community, these consumer groups are also well-connected. Why is it essential for brands to focus on creating community outreach and tapping into these segments? Let’s understand this with an example: Gen Z has an approximate buying power of USD 143 billion, and the community together accounts for 40% of the shopping market. For a consumer network that is not only widespread but is also affected by each other's experiences, companies must surpass the expectation of the community as a whole.
Here are some reasons that throw light on how community outreach is driving ingenuity back to businesses.
Before introducing a product, every business identifies its target audience. In the era of social media, potential customers are often a part of a community that shares the same interests and opinions. Such networks are apt for testing a product before launching it in the market. A trial run will help the company understand how far or close their offering is from impressing buyers. The insights and feedback from a large set of buyers help in gathering the perspective of the masses, simultaneously allowing companies to make necessary adjustments to their product before finally introducing it. By doing a trial run and then selling a product in the market, the chances of it failing are reduced.
The market is flooded with products and their close substitutes. In such a scenario, it is crucial to create a buzz about a commodity and highlight its USP. Community marketing is a boon for those aiming to generate awareness about their offering or brand. Since it is a network of like-minded people, if a small section starts talking about your company, the word is bound to spread like wildfire. One of the most promising ways to create awareness is by tapping into a community setup. When buyers see a brand being associated with a personality they personally know, they follow, it piques their interest and brings in trust. Conventionally, it was difficult to select the right person to be the face of the brand.
However, the presence of communities makes this selection easy, as a close study of these networks gives away enough information about buyer likes and dislikes, and thus selecting a face of the brand becomes simple.
Drives targeted engagement
We live in a world where trends turn into a frenzy within a matter of seconds. The community of customers has been critical in promoting the trend culture. Communities enable brands to create engaging marketing techniques and foster a relationship of familiarity between the brand and the community. In addition to that, tapping into a community enables the brands to target audiences for a high and effective ROI.
Community marketing has several benefits but brands must do an in-depth study of their buyers to target the right community with the help of data-driven insights. That being identified, thoughtful application of plans and strategies while building marketing campaigns result in an engaging and successful campaign.
The Author is Shreyas Hegde, CEO and Co-Founder, Viral Fission
Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house. Unless otherwise noted, the author is writing in his/her personal capacity. They are not intended and should not be thought to represent official ideas, attitudes, or policies of any agency or institution.
Your e-mail information will not be shared with anyone else. And it will be used only to send out our latest news.
BW Communities is an array of business news websites targeted towards niche communities and readers across various industries