Monetizing your Community - CONVERGE - Fall Symposium, 2011
by Sterling Raphael on Sep 19, 2011
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When I was invited to attend and speak at Converge, I felt it was an exciting opportunity to re-examine the significance of social commerce and how our communities are affected on a routine basis. ...
When I was invited to attend and speak at Converge, I felt it was an exciting opportunity to re-examine the significance of social commerce and how our communities are affected on a routine basis. With this in mind, I plan to highlight a number of innovative thoughts, tools and ideas on monetizing your community and then apply these solutions to some of the greatest opportunities social technology presents.
Here are a few statistics that frame the opportunity for monetizing your community:
- 91% say consumer content is the #1 aid to a buying decision (JC Williams Group)
- 87% trust a friend’s recommendation over a review by a critic (Marketing Sherpa)
- Social network users are 3x more likely to trust peer opinions over advertising when making purchase decisions (Jupiter Research)
With these figures in mind, it’s obvious that by using social technology, including online communities, organizations can increase revenue and improve long-term relationships with customers. My session will focus on how your content strategy can drive increased community engagement and in turn drive commerce (monetization).
Content, Community, Commerce… A theme I’ve embraced for quite some time now!
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