1. Community marketing is cost-effective and impactful
Community management and marketing is a mentality more than a strategy. It’s about focusing on users and developing activities and actions around them. Community marketing includes live streams (AMA sessions), webinars, and social listening and engagement. It is important to note that community building is not an overnight task; it takes testing and patience.
Yi explains, “Building a community takes time, and it’s worth it. Personal connections with a community are vital to ensuring continued growth. That includes responding to issues and taking feedback into action, which requires strong collaboration with customer support and product teams.”
This cross-functional effort might seem challenging, but it can be organized and is typically very profitable when done right. Yi adds, “It is significantly more cost-effective to organize an AMA session with the CEO or executive, which allows customers to connect with the company and address issues or new products, than broadcasting noisy ads.”
2. Community engagement gives companies authenticity and loyalty
The best way to create a meaningful community is to remain authentic. Transparency builds trust between a company and users and within a user base, compounding to strengthen the community over time.
Even more impactful is when a key executive is part of this plan. At Binance, CEO CZ (Changpeng Zhao) is famous for being extremely active on Twitter, where he interacts and responds with thousands of people. Yi says this interaction is vital and “allows customers to have a personal connection with a company that translates to higher engagement and loyalty.”
For companies without a public-facing executive, focusing on micro-interactions helps humanize a company and its mission. According to Yi, “Community marketing requires knowing what your customers need and care about, and what they don’t care about too. Ultimately, focus on customers to deliver products and services they want, need and will like.”