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How Community Building Gives Your Business a Competitive Advantage

When you hear the title “CMO” these days, it may not refer to the “Chief Marketing Officer” of a company, but rather its “Chief Community Officer.” The emergence of this new CMO role was inevitable, as more and more brands have begun to understand the difference between building a community versus simply building/buying social media followers. And today some communities are so powerful that they can influence a company to change its product design as well its overall business marketing strategy.

Whether you’re building your community on a free community platform, such as Facebook, or on a private community platform that users must log in to, there are many benefits of community building for your business.

9 benefits of community building

  1. Closely monitor market trends, customer wants and needs
    Want to know what features your users want? Want to know what your users think about your products and services? Who is dissatisfied and is going to churn? Instead of (or in addition to) subscribing to expensive churn prediction tools or sending email surveys that won’t get opened, you can track everything by observing and interacting with your community.

Communities increase engagement, make your customers feel valued, and help you make decisions your users care about.

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  1. Support your customers beyond emails, live chat, or phone call
    All these communication methods—email, live chat, phone—are perfect, with only one exception. They allow only one-on-one conversations, not one-to-many and many-to-many.

When you start hosting regular live Q&As, webinars, or interviews, you stop being just another vendor. You can make your live events more engaging by:

Answering FAQs
Receiving questions from users in a live mode
Interviewing industry leaders
Sharing members-only content
Previewing new features

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