Executing your strategy through Communities
It’s important to understand that the digital universe is about micro-communities. Each micro-community is a dynamic group of users with unique interests, needs, issues, and challenges.
Long gone are the days where a loyalty or incentive program would secure you drive home the growth you needed. According to consulting firm Kantor, 71% of customers claim that loyalty incentive programs are not making them more loyal.
Incentives remain important; however, the vendors need to find new ways of engaging their customers and partners. According to research from Accenture, in US alone, companies are losing $1 trillion in annual revenue to competitors as they fail to be consistently relevant to their customers.
This decade is about:
1. Pervasive experience digitization
2. Customer attraction and retention through communities
3. Deep personalisation
4. Continuous and relevant experience
Our digital life with its platforms have become shameless self-promoting information overload highways. May companies are screaming out a double- and triple-digit number of posts on e.g LinkedIn every week. Buyers are not trusting them anymore. According to media agency UM only 4% trust the so-called influencers.
To capture the hearth and mind of the modern-day technology buyer you need to stop insulting their intellect. Communities with relevant, personalized, trusted quality content is what buyers are looking for. A community where you can share best practices with peers and shine as an individual as well as learn and interact. A recent study form salesforce claims 72% of customer want to share good experiences with others.
Combining your partner portal with a personalized community approach will set you apart from competition. 83% of business buyers say being treated like a person rather than a number is vital to winning their business. At the same time (from the same Salesforce research) 81% of business buyers say the experience a company provides is as important as its products and services.
Embrace the digitally powered buying journey your partners are evolving towards. Drive relevance in content, drive engagement, foster a community with hyper personalization.
Time is now to unleash the power of your ecosystem execution community.