Jen Evans of Sequentia spoke this morning at AIMSCanada regarding etribes and online communities.

She listed seven reasons why a company should consider a community or Web 2.0 strategy.

They are:

  • Increased Customer Engagment
  • Increased Revenue Opportunities
  • Increased Content Opportunities
  • Research & Learning Opportunities
  • Product Development Based On Customer Insight & Information
  • Increased Customer Loyalty
  • Increased Branding Opportunities
  • Increased Profile & Visibility (A Recruitment Tool)
  • Each on its own is a good reason. All of them together are compelling.

    Too often clients and prospects are tentative in their approach and in some instances that may well be understandable. Resources may be limited. Proof of concept may not be clarified, delineated or proved. We on the other hand can be too aggressive in touting the new and the shiny.

    A phased, stepped approach often proves the most successful but as with so much else, requires a modicum of patience.

    The data is there and it is growing. From Hitwise. From Forrester. From Harvard Business Review (courtesy of Sequentia) who state 56% more revenue is generated by community members than by non-community members. (Familiarity breeds content.)

    Engagement is about trust. And trust is about commitment.

    It's not a new dialogue, "churn" has long been a part of the marketing dialogue. It costs more to acquire a customer than to keep a customer. Not new.

    The "thin market" has long been a part of the dialogue. (Catching prospects at the optimal time when they've a vest interest in the market. Usually reserved for cars and homes.)

    Self-identifying and selecting customers who exhibit trust and spend more. Isn't that every company's dream?

    Have a good one.

    ~The (SEP) Guy