Investments in building communities can range from low 5 figures to massive multi-million dollar initiatives, that when done successfully sustain themselves over many years.
So why launch them?
In responding to our community survey questions, our experts provided their top ten ranked reasons from a set of eighteen options provided.
#1 Drive word-of-mouth/advocacy/buzz
#2 Entrench brand loyalty
#3 Drive favourable company/brand perception
#4 Lead industry agenda/conversation
Research & Development reasons:
#5 Grow competitive/marketing intelligence
#8 Deliver better customer insight/feedback
#9 Build superior solutions/innovations
#6 Build website traffic
Customer Service Reasons:
#7 Support customer needs/questions
#10 Drive marketing/customer spend efficiencies
One interesting insight is the function that controls and is accountable for the community drives a lot of the reasoning for what that community delivers. Given marketing and communications are accountable for two-thirds of the industry’s communities, it may not be surprising their objectives dominate the top 4 reasons.