Top 10 Reasons to Build an Online Community

Top Ten Reasons to Build an Online Community • vovici.com +1 800 787 8755

Agenda • Online communities vs. Social networking • Benefits of online communities • Top 10 reasons to build an online community • Vovici Community Builder Module • Q&A • vovici.com +1 800 787 8755

Panels vs. Online Communities vs. Social Networks Online Social Panel Community Network Researcher Researcher Researcher Member Member Panelist Member Member Member • vovici.com +1 800 787 8755

Social Networking • Unlike communities, a member of a social network can only see their friends’ activities • Social networks started with student populations before becoming mainstream • For socializing around music and entertainment and pictures or for business networking • Not ideal for business • vovici.com +1 800 787 8755

What Is An Online Community? • Group of members who agree to interact with you and with each other • Bound by common interests (products, services, job function, industry affiliation) • They want to interact with and learn from others with similar interests • Provide rich information about themselves, their interests, likes, dislikes, suggestions • Consistent and informed source of feedback • vovici.com +1 800 787 8755

Top Ten Reasons to Build an Online Community in 2009 10. 9. 8. 7. 6. 5. 4. 3. 2. 1. • vovici.com +1 800 787 8755

10. You Know 2009 Will Not Be Like 2008… • Corporate bankruptcies are on the rise • Unemployment will be higher • Consumer purchasing will be lower • Housing prices will be lower • Credit will be tighter • vovici.com +1 800 787 8755

You Know 2009 Will Not Be Like 2008, But Do You Know…? • How this will affect your customers? • How this will affect your prospects? • How this will affect your resellers? • How this will affect your partners? • vovici.com +1 800 787 8755

9. Give Customers a Place to Discuss Your Organization U.S. 18+ Participation in Online Communities • vovici.com +1 800 787 8755

8. Increase Loyalty Just by Having a Community Deloitte's 2008 Tribalization of Business Survey, of 140 organizations with communities: • 24% report increased loyalty • 24% bring outside ideas into the organization faster • 28% report their overall brand awareness increase • 35% report an increase in word-of-mouth for their brands • vovici.com +1 800 787 8755

7. Use Employee Insights to Drive Customer Loyalty Case Study: • International Bank Background: • Tremendous growth in an emerging market Challenges: • Increased competition for local sales talent • Increased competition for customers Use of Employee Community to Meet Challenges: • Using employee feedback from community to position bank as an quot;employer of choicequot; • Using employee community to share customer feedback from the field and for employees to submit product and service ideas • vovici.com +1 800 787 8755

Employee Loyalty Drives Customer Loyalty High Risk 50 40 30 20 10 0 2001 2002 2003 2004 2005 2006 2007/2008 Percent of High Risk Customers Percent of High Risk Employees Source: Walker Information • vovici.com +1 800 787 8755

6. Introduce Prospects to Your Organization • A virtuous circle of community engagement More helps expand that community Members • The more community participation, the more More More Site Ideas & pages to be indexed by search engines Visitors Topics • The more pages, the higher the search engine traffic • The more prospects discover your institution Higher and engage with existing customers to learn More Search Engine Comments Rank about it More Pages • vovici.com +1 800 787 8755

5. Generate Thousands of Ideas • vovici.com +1 800 787 8755

5. Generate Thousands of Ideas 60,000 50,000 40,000 30,000 20,000 10,000 - March April May June July August September October • vovici.com +1 800 787 8755

4. Provide a Rich Source of Qualitative Insights Quantitative Research • Closed questions • Online Communities • Limited response options • Focus Groups • Can’t get the story behind • Provide the Story the story behind the story Qualitative Research • Provides hard data that • Can’t extrapolate to a can be extrapolated to a larger audience larger audience • vovici.com +1 800 787 8755

Feedback Communities vs. Focus Groups Focus Group Online Community Medium In person Online Participant Size 8-12 100s-1000s Respondent Bias Medium Low Time Frame 2 hours Years Turnaround Time Weeks-Months Hours-Days Geography Major Metropolitan Area Worldwide Cost Variable Fixed Cost per High Low Response Methodology Qualitative Qualitative & Quantitative • vovici.com +1 800 787 8755

3. Provide Comprehensive Quantitative Feedback Target Audience Empanelled Audience Community Members Active Community Members • vovici.com +1 800 787 8755

2. Compress the Traditional Feedback Cycle • Get feedback almost instantly – much faster than your competitors • Combine qualitative and quantitative research more rapidly than ever • vovici.com +1 800 787 8755

Traditional Feedback/Innovation Lifecycle 3-6 Months • vovici.com +1 800 787 8755

New Feedback Cycle: Online Communities + Surveys Create targeted survey Post question to forum Gather responses See responses Analyze data Create questions for surveys Days, Not Months Bridge Gap Between Quantitative & Qualitative Data • vovici.com +1 800 787 8755

And the #1 Reason to Build an Online Community in 2009… 10. You Know 2009 Will Not Be Like 2008, But Do You Know…? 9. Give Customers a Place to Discuss Your Organization 8. Increase Satisfaction Just by Having a Community 7. Use Employee Insights to Drive Customer Loyalty 6. Introduce Prospects to Your Organization 5. Generate Thousands of Ideas 4. Provide a Rich Source of Qualitative Insights 3. Provide Comprehensive Quantitative Feedback 2. Compress the Traditional Feedback Cycle 1. • vovici.com +1 800 787 8755

1. Sustainable Competitive Advantage comes from Changes • Community members participate because they want your organization to serve them better • Engage employees in the community so that they can be customer ambassadors • Short term, develop an infrastructure that will enable you to rapidly implement new ideas • Long term, develop a culture centered on customer-driven innovation and co-creation • vovici.com +1 800 787 8755

A Case Study in Sustainable Competitive Advantage • http://www.dellideastorm.com/ • Launched February 16, 2007 • One of first feedback communities to allow members to vote each other’s ideas up (and, later, down) • Has generated 10,495 ideas submitted by 6,000 members; average idea generates about 8 comments and 8 votes • Dell has implemented … 160 ideas • 40 Dell employees participate, as members of a team called “Communities and Conversations”; employee participation widening • vovici.com +1 800 787 8755

Why Build Online Communities? Imagine walking into a room full of your customers at any time, where you can ask any question, and are guaranteed to get a response…. ……How would you use that? • vovici.com +1 800 787 8755

Examples of Online Feedback Communities Maintains Brand Integrity Demonstrates Controls management access commitment Bill of Rights • vovici.com +1 800 787 8755

True Feedback Community Profile Updates Results Targeted Shared with Surveys members based on profile data • vovici.com +1 800 787 8755

Our Approach: A Single Platform That Uniquely Combines: v4 Database Profile Survey Data Responses Online Surveys Proprietary Panels & Online Communities Business Intelligence • vovici.com +1 800 787 8755

About Vovici SELECTED CUSTOMERS 60% Of the Fortune 500 2,000 Customers in over 47 countries Million completed surveys in more 150 than 150 different languages. KEY PARTNERS 15 Years of industry experience, leadership and innovation • vovici.com +1 800 787 8755

Special Book Offer: • Arrange a demonstration or request a call- back to receive a free copy of “Weapons of Mass Collaboration” by Vovici CEO Dean Wiltse • http://www.vovici.com • vovici.com +1 800 787 8755

Questions & Answers • To request a demonstration of Vovici Community Builder Module, contact your sales executive or: • 1-800-787-8755 http://blog.vovici.com • sales@vovici.com • Our presenters welcome your questions: • Jeffrey Henning, Chief Strategy Officer & Co-founder, jhenning@vovici.com • Brian Koma, Vice President of Marketing, bkoma@vovici.com • vovici.com +1 800 787 8755

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Top 10 Reasons to Build an Online Community

by Vovici on Mar 20, 2009

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