There’s a way to build your market without spending a fortune on advertising and marketing — and it’s called community building. Here’s why this should be the cornerstone of your growth strategy.
IN THEIR FIRST three years of business, social media management tool Hootsuite grew from zero to three million users. It’s an impressive feat for any company, but what’s even more notable is that they did so with virtually no advertising or marketing budget.
Instead, they grew through community building. A team of 18 staff members and 100 influencers grew the company in a grassroots manner — all thanks to community engagement, according to their CEO Ryan Holmes.
Below are five steps that you can use to grow your brand or company using community building as a key strategic tactic.
1 Define what your brand is and what it stands for
Before you can build a community around your brand, you have to know what that brand is.
Do you have a mission statement? Do you know exactly who your target audience and community is? Do you have the content ready and armed to engage this community each and every day?
Here’s a classic example: The colour pink doesn’t try to make itself greener, hoping to appeal to everybody who loves both. Pink is pink, and you either like it or you don’t. There are no apologies and no justifications.
So, what’s your ‘pink’? What do you stand for that nobody else does? What type of people do you want in your community and, more importantly, who don’t you want to include?
Diese Geschichte stammt aus der April 2018-Ausgabe von Entrepreneur Magazine South Africa.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der April 2018-Ausgabe von Entrepreneur Magazine South Africa.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
Prepare For The Worst
The stronger your business is, the more you stand to lose. Here’s how to spot hidden weaknesses within your operation and steel yourself for unexpected battles.
Start Planning Today For Future Wealth
Q&A Budgeting is by far the biggest threat to wealth planning, says wealth coach Nelisiwe Masango. If you’re part of the majority of people who don’t have a monthly budget or who have one, but don’t adjust it regularly, you could be hindering your financial progress.
Beyond Banal Business Travel
Twenty-five-year-old South African automotive drivetrain repair company Rex Diff and Gearbox found a perfect match for its business travel needs when it joined kulula work’s client base, and never looked back. Dennis McLachlan of RDG’s Consumer Affairs and Marketing division explains why.
The Next Level Beckons
Rudolf Goosen is an ex-professional rugby player, entrepreneur, author, TV presenter and motivational speaker. Entrepreneur recently spoke to him about his new book, Taking Your Life to the Next Level.
Diversity Drives Board Performance
The composition of your board of directors can help you drive your company value and increase shareholder and other stakeholder returns.
Invest And Save 100% Of Your Tax Payable To SARS
Section 12J funds were created in response to the South African Government offering tax incentives for private investors to support funds that support SME growth in South Africa. Three experts unpack the benefits of investing in 12J funds — particularly for high net worth individuals.
Following Your Dreams? Nailed It!
Sorbet franchisee Kate Holahan went from corporate employee in 2015 to owning two franchise locations in just over two years. By September 2017, she had launched a new location, acquired new clients and was learning something new every day. It took a few learning curves and partnering with the right bank to lead her to successfully running her Sorbet and Sorbet Man stores at Benmore Shopping Centre in Sandton.
How To Build A Community Around Your Brand
There’s a way to build your market without spending a fortune on advertising and marketing — and it’s called community building. Here’s why this should be the cornerstone of your growth strategy.
Sealing The Deal
If you want to close more sales, you need to understand the three phases of the customer buying cycle.
No Limits
When Offlimit Communications faced its first downturn after ten profitable years in business, its leadership team didn’t even question that they would turn things around and make them better. With resilience and determination, they analysed the business, made some tough choices and took action. Within six months they took the business from massive losses back to profitability, and a year later doubled their pre-losses turnover — all in the middle of a recession.Here’s how Lisa Cohen, Jerome Cohen and Garon Bloom took lemons and made lemonade, building a R130-million sustainable business in the process.