The business value of community

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Online communities can transform your business in a number of ways. For this presentation, we’ll take a brief yet very important look at 5 key ways in which communities can provide business value to organizations.

To take our Community Needs Assessment visit: www.sequentiaenvironics.com/resources/community-needs-assessment.html

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The business value of community

  1. 1. The business value of community.
  2. 2. Acquisition Brand Market Social Commerce Loyalty Research SupportOnline communities can transform your business in a number of ways. Over the nextfew pages, we’ll take a brief yet very important look at 5 key ways in whichcommunities can provide business value to organizations - from bringing inleads and driving sales, to increasing brand loyalty and customer satisfaction.
  3. 3. 1. Customer acquisition• Organizations can save up to 30%* in the cost of generating inbound leads and opt-ins online, just in the first year of building a community.*Based on data collected from over 100 communityimplementations between 2005 and 2011. "Leads from inbound links are 5 times more likely to close than outbound leads." - Hubspot
  4. 4. 2. Market research Engaged, motivated participants• Companies can cut their annual market research costs in half*, in just a year of building a Large open research community. ended data Naturalistic Setting @ low cost Relevant timely• Whats more, they can exercise actionable results better control over the research process and receive better quality data. Benefits of community- driven research*Based on data collected from over 25 implementations ofcommunities for research.
  5. 5. 3. Quality service, reduced support costs • Companies typically achieve up to a 20-30%* decrease in weekly support tickets, within the first 3 months of implementing a thriving community. • From our experience, well constructed support communities cut call centre costs by almost 30%* in the first year of operation. photo: allthingscrm*Based on data collected from over 40 implementations ofsupport driven communities.
  6. 6. 4. Brand loyalty• While a softer measure, communities can turn the most angry of customers into loyal fans and brand advocates. “Customers who engage with companies over social media are more loyal and they spend up to 40 per cent more with those companies than other customers.” *Bain & Company, 2011.
  7. 7. 5. Commerce• Community users spend 54%* more than non-community users!• Communities can be monetized. In fact, the more niche a community (and the interests of its members), the more opportunities it has for building unique business models.*Jupiter, 2006. photo: buddy media/spinback
  8. 8. Interested in learning more?Visit out website, download our Community Needs Assessmentor contact us via email/phone.Gabriel.Tait@sequentiaenvironics.com416 203 3656 ext. 231

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