Why is 2023 the year entrepreneurs should build an online community
We at i-Club are convinced of the power of online community as we witness the remarkable ways that it can transform Heroes business and their lives (watch the video above and see for yourself)!
With 41 percent of US creators have blogs or websites for their readers in addition to social media, private online communities can be a great next step to differentiate yourself, make a bigger impact, and increase your income.
Coaches and creators Online communities can be a key to diversifying and securing your revenue while giving you the ability to control your content and customer interactions.
Furthermore, larger companies have begun to realize the benefits by adopting a method of community-driven method for growth. This helps to improve their customer satisfaction as well as adapt to changes and overcome challenges more easily.
Twenty twenty-three is expected to see this pattern continue and expand that will provide of options to select from. The sooner you get started building your own community, the more effective!
In this piece this article, we'll discuss the reason the online community has become very popular and what you can benefit from their indisputable benefits for your business.
The rise of online communities
"To truly build a brand requires a community. And once you have the community you need, you'll have a customer for life because they're building relationships and building support structures." Dexx Williams, Author and Sales Funnel Investigator. Dexx Williams, Author of the Best-Sellers and sales funnel investigator
Businesses and organizations in all sizes and shapes recognize the value of building closer connections with customers as well as supporters--and the best way to achieve this is via online communities.
As of 2021, 86% of businesses acknowledged that the community is crucial to their purpose and 69% of them were looking to raise the amount of money they allocate to their community-building strategy. In 2022, between 79% and 95% of companies (depending on their growth phase) had the support of a dedicated community team.
In 2022, the market for creators has grown to reach 50 million creators active with the market estimated to be $104.2 billion which is more than twice its value since 2019. This number is growing. As a result the online community is expected to keep increasing their popularity in 2023.
Bottom line: Online communities are increasing. Businesses are using them as part of their strategy for business to establish meaningful connections with customers. Content creators and coaches also use them to take control of their content and monetize their audience more effectively.
How important are online communities?
"Community is the foundation that keeps my company together. It is a joy to be part of Communities as it lets me to have full control on my site without having to rely on Social Media." - Chelsie Kenyon Marketing Expert and certified coach
Through dedicated communities, coaches and artists can reach their target audience and profit from their creations in a meaningful manner while taking full responsibility. It's also an excellent way to increase brand awareness and retention of customers, to maximize potential for growth, and scale customer support.
Private online communities are also an alternative to the social media platforms which can be a challenge for creatives with constant algorithm adjustments and intricate, inconsistent rules.
Another issue is that social media platforms could go through major upheaval like, for instance, Twitter, or worse, they can even crumble and fall apart, such as Vine. Establishing your own social network helps keep your fingers off the danger of losing the content and connections that you've put so much effort into create.
Social media also brings distractions for users, and people get tired of frequently being bombarded with adverts. In the end, they want real connection over just being sold to. This is why online communities are thriving--they're an effective method of building solid, truthful connections between members and creators.
In the end: Organizations of all types and sizes realize the benefits that online communities can have on their revenues, reputation, and impact. Online communities are also an excellent option for creatives to avoid the complex, ever-changing rules and algorithm-related issues of social media which result in revenue loss.
Six benefits of online communities
Communities on the internet offer a myriad of benefits that go beyond simply being able to connect and engage with your customers. Below are six of the most important benefits.
- Find more efficient ways to connect with your audience. Online communities bring you more insight into your target audience over any other method of marketing, with 86 percent of brand managers saying they've gained "deeper/richer understanding of customer requirements." A majority of eighty two percent claim to have improved their "ability to be open and able to answer new questions," which ultimately helps to increase the effectiveness of your services and improve your overall relationship with your clients.
- Stand out from the competition. Not everybody uses online community platforms to connect with their followers, and you'll be one step ahead of the game if you set up an area for your users to meet, hang out as well as interact with each other and you.
- Get new members. Communities that thrive have the energy and enthusiasm that people want to share with others. If people have a positive experience, finding connections, and seeing positive results, they'll become more inclined to refer your community to others and help your business grow.
Summary Achieving an online community is a great option to reach out to your target audience and grow your business. You can take control of your website's content as well as your customer connections, and also engage your followers in a deeper and more meaningful way.
The reason Communities are crucial for your company
The online community platforms can be a powerful tool to increase the value of your audience while also engaging with them.
Our community enhancements let you collaborate and connect with your users as never before. You can host and record live events and coaching calls, provide networking opportunities, run challenges and give your members a chance to play games, have live chat in real time, and much other features. How do the updated features work? Check out Tina Tower's walk through of the updated community experience here!
You can now be in charge of your entire communities, events or communications programmes, all from one spot and not rely on social media platforms or complex technology stacks.
"The factors that allow people to connect with each other are built right in. It's quick, easy and engaging and, when you mix those with the many ways we can help individuals to be together It's just designed to help us have the most impact possible for the people we work with." -- David Levin, Author & Director of Raise Your Inner Game