Every brand has a community; whether you have ten customers or ten million, there are people out there who are passionate about what you do and want to share it with the rest of the world.
Activating these people’s marketing capabilities, putting them in the spotlight, and empowering them to share their enthusiasm with others are all part of a marketing strategy known as community-led growth.
Simply said, community-led growth is the process of converting a product’s users into its best advocates, who then go on to tell their peers about their experiences with the product.
This benefits brands in a variety of ways
- promoting and recommending a product to their peers
- By bringing people together online to share best practices, content, success stories, and discussions, you can increase engagement.
- Giving brand feedback on its products, services, and marketing and sales tactics
- The benefit to both the company and the customer is a unique feature of community-led growth. For the brand, it develops a network of loyal customers who will persuade others to make a purchase, resulting in increased acquisition and growth.
- For those customers, being a part of the community increases the value of the product or service in question by allowing them to learn asynchronously and in parallel with their fellow customers. It increases CLV and has a positive impact on a brand’s ARR.
However, there are several reasons why every founder should consider community-led growth as a strategy.
We shall explore the reasons for this evolution in this post.
Let’s get started,
Why every Founder should think about Community-Led growth as a Strategy?
Establishing a synergetic relationship with your customers
Community-led growth enables you to create something more relatable for users: a movement in which they can take part and that is focused on a topic they care about.
Become a market opinion leader
Once you’ve come to understand your market, you may start selling products and services that it requires. A well-managed community is always there to answer questions, troubleshoot with peers, and provide best practices materials, allowing you to come up with unique solutions you wouldn’t have considered otherwise.
Your company’s brand grows over time as a result of this opinion leadership.
Actionable response and real-time insights
Proactively managing your community provides your salespeople with a solid source of interested leads. In different situations, the community channel is your business’s first point of contact. With peer-to-peer feedback, customer service can respond to issues in real-time while becoming learning and minimizing complaints. The product team can also see what users are missing, what people are asking for, and the general feedback they have.
Some examples of Community-Led Growth Companies
Netdata
Democratize monitoring, enable IT teams to learn more about infrastructure, quickly identify and fix problems, work together to solve problems, and make data-driven decisions to move your business forward.
Netdata Agent is free open-source software with hundreds of contributors from Github Stargazer and millions of users including companies such as Amazon, Google, IBM, Microsoft and NVIDIA.
As with successful open source projects, the largest moat is a community built around tools to adapt and improve them. This is also true for Netdata, which you can see on the Github page.
Hack the box
It’s a hacking playground that allows cybersecurity enthusiasts to practice penetration testing skills and share ideas and methods with thousands of people in the field. The team has created the largest community of cybersecurity enthusiasts. I would like to highlight just a few of the various community-driven growth paths they have taken to make the HTB community a central part of the producer’s journey: User Generated Content (for accessing obsolete machines). Walkthroughs), certification programs, and a Discord community of over 60,000 members helps users onboard, guide, launch, and more.
Conclusion
By going through the above-mentioned points you will get sufficient data regarding community-led growth and its relevance. If you also want to prepare a community-led growth marketing strategy then you should seek the aid of a professional digital marketing company. If you are looking for one look no further than Stellar Digital as we have a skilled team of marketers that can assist you with your project. Visit stellardigital.in and explore more about our digital marketing services.
