Community-led growth: The key to business growth.

By Samson Sowande ACA (Author)

"Customer is King" is an age-old adage that emphasizes the importance of customers or consumers in all businesses. They are critical stakeholders in the growth of a business and can serve as the best advocate for the business product by sharing their experience with the product with their peers and community.

Having a strong community is beneficial to both the customers and the business.

What is Community Led Growth - CLG?

Community-led growth is a marketing strategy that relies on a supportive community to drive customer acquisition, expansion, and retention. Users of products promote and recommend them to others, which can lead to more customers and create brand awareness.

Why Businesses need to build a community

Brand loyalty, improved sales, and customer feedback have all become the norm for strong online communities. Here are five reasons why businesses need to invest in community-led growth:

Encourages growth:
The presence of a dependable community that supports and promotes the business creates momentum. The revenue of the company may increase if the community includes customers. Your company may reach new heights if your network is reliable.

Brand advocacy:

Having a strong online community means having free brand ambassadors. These people can help spread the word and advocate for the business. Personal recommendations are valuable because customers often trust their friends' opinions more than the company salespeople.

Customer Service improvement:

Customers can easily interact with the company and provide immediate feedback on their complaints. When there is a misconception or criticism, the community and dependable customers can provide assurance to other stakeholders of the business.

Competitive advantage:

A strong community can distinguish the company from its competitors and make the difference between which business is more popular and successful. Thriving communities create a thriving business.

Better Business Network

It’s often said your network is your net worth.  A common interest binds everyone in the community together. It's a place where businesses can meet people who share their values, build business relationships and professional connections, and learn from industry experts.



How to build a community?

One of the most important factors to consider when starting a business is having a great community made up of people who are dedicated to the company's goals and growth, such as employees, customers, or an online community.

The business Objective:

The business objective must be value-driven and well-defined. A clear picture of business objectives will entice those in need of services or products. These objectives should be clearly communicated on the company's website and social media pages, as well as when engaging with potential customers.

Building an Online forum that encourages discussion:

Online forums allow the business to share information and invite others to participate. It's a space where customers can tell you what they like about your product or service and where they think the company can improve.

The Social media platforms such as Facebook, Instagram, Twitter, and LinkedIn to interact with their customers frequently. For example, a company can use Twitter Space to engage and interact with its customers on a specific topic. The company could invite a social media influencer or a well-known guest speaker to raise awareness in the online community.

Twitter Space has a massive and diverse audience reach and is an audio streaming feature available in the Twitter app. It lets users live stream discussions and allows a wide variety of options for engagement—before, during, and after the event.


______Author Samson Sowande ACA
 Email: samsonsowande317@gmail.com
Twitter: Samson Oyedele
Linkedln: Sowande Samson
Whatsapp: wa.link/t47cc5





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