Why is 2023 the year entrepreneurs should build an online community
At , we are convinced of the power of community online due to the amazing ways that it can transform Heroes companies and lives (watch the video above and take a look)!
With 41% of US creators operating blogs or websites for their readers outside of social media, online communities that are private can be an excellent way to stand out, create more impact and increase your income.
For creators and coaches for coaches and creators, online communities are essential to diversifying and securing your revenue while giving you the ability to control the content you publish and your customer interaction.
Additionally, big businesses have begun to realize the benefits from the method of community-driven approach to growth, helping customers improve engagement with their company, become more adaptable, and more effectively overcome obstacles.
Twenty-three will see this pattern continue and expand and provide of options to select from. The sooner you get started creating your own community the more effective!
In this piece we'll look at the reasons these online communities are becoming very popular and what you can reap their unquestionable positive effects for your business.
The growth of online communities
"To create a strong brand, you need to have a network. Once you've got that community, you have an ongoing customer because they're forming bonds and building support structures." -- Dexx Williams, Best-Selling Author and Sales Funnel Investigator
Businesses and organizations that are of any size and shape recognize the value of building more connections with their customers and patrons. The best method to accomplish this is by utilizing online communities.
At the time of 2021 86% of organizations agreed that community is essential to their goals as well as 69% looking to raise the amount of money they allocate to the community-building strategies they employ. By 2022, between 79% to 95% of businesses (depending on the stage of growth) had the support of a dedicated team of community members.
In 2022, the creator economy increased to 50 million active creators with the market estimated to be $104.2 billion which is more than twice the amount since. And the number keeps growing. In the wake of this increase the online community is expected to increase their appeal until 2023.
The bottom line is: Online communities are growing. Companies are incorporating them as part of their business strategy to create meaningful connections with customers. Coaches and creators of content utilize them to manage the distribution of their content and to monetize their followers more effectively.
What are the benefits of online communities?
"Community is the glue that holds my business together. and I am a huge fan of Communities since it allows me to be in complete control on my site without having to rely on the social networks." - Chelsie Kenyon Marketing Expert and certified coach
By establishing dedicated communities, coaches and creators can connect with their followers and earn money from their work in a meaningful manner, with full control. It's also an excellent way to increase brand awareness and retention of customers, to maximize the potential of growth and scale customer support.
Private online communities can also be an alternative to the social media websites that make life hard for creatives with constant algorithm updates and complicated and inconsistent rules.
A different issue is that social networks can go through major upheaval like, for instance, Twitter, or worse, they may even fall apart and crumble, as with Vine. The creation of your own community helps you keep your fingers off the danger of being unable to access the information and relationships that you've put so much effort into create.
The internet also creates distracting factors for users. And users get bored of receiving advertisements. In the end, they want genuine connection rather than being sold to. That's why the online community is thriving. It's a way of establishing solid, truthful relations between the creators and their members.
Bottom line: Organizations of all types and sizes realize the benefits that online communities have on their revenue, reputation, and impact. Online communities can also be an excellent option for creatives to avoid the ever-changing, complex algorithms and rules of social media which result in revenue loss.
The benefits of online communities
The online community can provide a variety of benefits beyond the ability to interact with and connect with your customers. Here are six of the most important benefits.
- Discover more effective ways to interact with your customers. Community-based online communities provide better insight into your audience more than any other strategy for marketing that you can use, with 86 percent of brand executives having reported "deeper/richer understanding of customer requirements." 82% report that they've gained the "ability to hear and uncover concerns," which ultimately helps to increase the effectiveness of your services and enhance your relationship with your customers.
- Stand out from your competitors. It's not common for people to use online community platforms to engage with their audience, so you'll be one step ahead of your competitors by establishing the space for your customers to hang out, collaborate, and interact with you and each other.
- Bring in the new member. Communities that thrive have an energy and vitality that the people want to share with others. If members are experiencing good experiences, making connections and gaining results, they'll be more likely to endorse your group to other people and assist in growing your business.
Summary Achieving an online community is a great option to reach out to your target audience and increase the size of your company. It lets you take ownership of the content you publish and also the connections you make with your customers, and also engage your audience in a deeper and more meaningful way.
Why Communities is key to your business
The online community platforms are a great tool to monetize your audience and engage with your people.
Our enhanced community features help you connect and collaborate with your users unlike ever before. You can host and record live events and coaching calls, provide networking opportunities to run challenges, and even make your events more gamified, provide instant chat and chat and much more. What are the new features? How do they work? Look over Tina Tower's review of the brand new experience for community members here!
You can now manage your community, events or communications programmes, all from one spot and not rely on social media or using a complicated tech stack.
"The elements that make it easier for people to get to know each other better are already built into. It's simple, and it's fun and, when you pair that with all the ways that we can work to bring people together in one place It's just made to allow us to have the greatest possible impact for the people we work with." - David Levin, Author & the founder of Raise Your Inner Game