5 Reasons Why Having a Tight-Knit Community Matters in Business

How Community Matters in Business

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5 Reasons Why Having a Tight-Knit Community Matters in Business

Nowadays, money is one of the most important things for businesses. But there are some things you can’t buy with cash. Namely, a tight-knight and a loyal community for one. Many online businesses succumb can’t compete with big brands because of their reputation. Even if they rank high on Google and attract new leads daily – keeping them is what matters. And it’s next to impossible to maintain a loyal following without inspiring certain values among them, treating them with respect and kindness, for example. In return, they tremendously help out your business. Here are five reasons why.

  1. Social proof

Social proof is essential if you want to clear away any doubts or hesitations new potential customers might have. When a new customer is looking at your products – they’re probably going to check the reviews from Hot5.com straightaway. People are thirsty for information and feedback, and it’s your responsibility as a business to give it to them. In return, you will be rewarded with more sales and a better overall reputation.

  • Better understanding your customers

With every touch point, you have with your customers, it’s a good idea to give them a way to voice their opinion and offer feedback. From reviews to surveys to email responses – you should always be looking for ways to take their feedback into consideration. A strong sense of community is one of the most important things within your business. And it’s just as important to know the good and the bad sides of your business.

  • Brand identity

As you get to understand your customers, it’s also important to think about your positioning as a brand. In other words, how do you want your customer to see you? In addition to branding yourself as an expert in your field, you should also try to come across as a caring brand that respects its community. Your community can make or break your brand. And retaining them is just as important as attracting new ones. In fact, repeat customers are often better than new customers.

  • Better social media engagement

One of the best places you can find your audience is social media. Engaging with them and growing a community in a place where they hang out is probably one of the most important elements in social media. First of all, your community directly increases your engagement with your customers, and ideally, it should also create a sense of belonging. Give them something of value so they keep on coming back. If done well, it should be a win-win situation. You give them something they find interesting, and in return, they increase your followers and sales.

  • Scaling up

Finally, if you want to eventually scale your business up and take things to the next level – it’s essential you don’t lose track of your community. An active and engaged social community will eventually find a way to sustain itself. But until then, you have to get the ball rolling on your own.

You know your community efforts will start to pay off when users start submitting their own content and start engaging and discussing with each other. On social media, this is easier to manage. But the more your users participate without your supervision – the better. And once this happens, you’ll start to see your community building pay off, and in due time, scale up.

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