Community-led growth is taking center stage at organizations across all industries. With traditional marketing techniques reaching a saturation point and product features appearing to differ very little, a thriving community can become your single greatest asset by acting as a force multiplier for your business and also enabling you to stand out in a fragmented market.
However, building and nurturing a community takes time - relationships cannot be an afterthought. When put front and center, a community can be a great acquisition channel, product feedback mechanism, brand differentiator, and retention lever.
In this session, Lloyed Lobo, Cofounder of Boast.AI shares how they were able to bootstrap to 8 figures in revenue by building a community of +100k people called Traction and the key lessons learned along the way.
Specifically, Lloyed covers:
- Audience vs community, what is the difference
- Getting your community started, bringing people together, and seeding it at the beginning
- How to ensure your community sticks and sustains for the long haul
- The most impactful way to add new members
- Unique strategies and tactics to keep the community engaged and drive interpersonal connections between members
- The key metrics for community success
- Tools to manage the community
Bio below
Lloyed is the Co-founder of Boast.AI fintech platform that automates access to billions in R&D tax credits and government funding to help innovative companies fuel their growth. Boast.AI was bootstrapped to 8 figures in revenue before it raised a $30 CAD Series A and launched a $100M debt fund to finance R&D.
Lloyed also runs Traction, a community of +100k innovators where leaders from the fastest growing companies share learnings on building, growing, and scaling companies via weekly webinars, regular meetups, and conferences.
Lloyed has been covered in Forbes, TechCrunch, Fox Business, SF Biz Journals, and VentureBeat. He has also been a speaker at top conferences and podcasts including SaaStr, Entrepreneurs on Fire, Mixergy, 1Mby1M, and Marketing School.
- LinkedIn: https://www.linkedin.com/in/lloyedlobo/
- Website: https://tractionconf.io
- YouTube: https://www.youtube.com/c/TractionConf/videos.
- Spotify: https://open.spotify.com/show/6twRL8X8D4CQq9yaazkvuM
- Apple: https://podcasts.apple.com/us/podcast/traction/id1595806788
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If you build a
community, you won’t
become a commodity!
“
Lloyed Lobo
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+110k subscribers, +100 events/ year including webinars, dinners, meetups, and conferences generating huge
brand value and word of mouth leads, funded through sponsorships, run by volunteers, pro
fi
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Community-led growth
Featured In
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Everyone’s
looking for a
growth hack…
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Signs you’re not ready to grow
1. No Ideal Customer. People don’t come to
your product to get a specific job done
2. Poor Retention. People don’t keep
coming back to your product anytime
they want to get that job done
25. Align around purpose,
vision, mission, values
“
Rule #2
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Get people excited to become the co-
author of a massive impact
28. Serve one audience
exceptionally well
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Rule #3
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Focus will give your messaging clarity
that will lift the conversion
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Thinkabout…
• Who are your customers (title, industry, geo, etc.)?
• What are the key outcomes they’re looking for?
• What are the tasks to get to those outcomes?
• How do they do those tasks today?
• What are the unnecessary steps? How can you
reduce them?
• What does the delighted state look like?
33. “If you can get even a
single distribution channel
to work, you have a great
business. If you try for
several, but don’t nail one,
you’re finished. So it’s
worth thinking real hard
about nailing one channel.”
- Peter Thiel, Cofounder, PayPal
& top VC
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HOW?
1. Allow members to create value for each other
✓ Rally them around a purpose
✓ Member run events, socials, masterminds, fundraisers
2. Be the matchmaker to engage your community members
✓ Curate and facilitate connections
3. Put barriers to make it difficult to enter your community
✓ Member driven recruitment/ interview process
✓ High bar means high quality and serious participants
41. Reward your best champions
“
Rule #9
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43. Make your
community sticky
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Rule #10
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The more I engage the better it gets or the more I
engage, the more I lose if I were to leave
44. New followers/ follows
+ investment in your
identity makes it sticky
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Thinkabout…
Stage State Conversion % Estimated Value
Acquistion How do you find them?
Acquistion How do you get them to try it?
Activation Do they stay?
Retention Do they keep coming back?
Revenue Do they pay?
Referral Do they bring their friends?
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TAKEAWAYS
1. Start with one - Practice or Product community
2. Great communities have great alignment
3. Serve one audience well
4. Pick an aggressive goal
5. Nail then scale - 1 customer, 1 channel, 1 offering
6. Get people to "aha" moment right away
7. Incorporate multiple sense to delight
8. Involve your community
9. Reward your champions
10. Make your community sticky
11. Show up consistently
12. Measure and Monetize
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iscin elit. Suspe disse place rat, felis in biben dum trist ique, lectu
magna fini bus dolor, ut sagit tis nibh lorem in massa. In eget purus et
torto lobor tis auctor non vel ex. Cura bitur ac ultri cies enim. Nulam
dictu massa id neque ornar, vel ornar diam pulvi nar. Integer vitae
vesti bulu enim.
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If you build a
community, you won’t
become a commodity!
“
Lloyed Lobo