Building customer relationships is an essential strategy that businesses need to develop to succeed in today’s competitive market. In order to stay ahead of their competition, businesses must create value by putting more emphasis on customers.
Applying a customer value-driven marketing strategy which focuses on satisfying customer needs and examines how their products or services meet those needs will enable an organization to flourish in any industry. Moreover, the business will maximize profits, outperform their competitors, and attain longstanding, long term, optimal results.
It is important for marketers to shift their focus from product to building stronger brand relations by providing value to communities. Building a brand community is a key strategy that marketers can develop to help businesses create strong relationships with their customers effectively.
A brand community is a group of customers who identify and share a common interest in a business brand, product, service, or idea. Building a brand community creates a platform primarily to serve the needs of the customer as well as empower them. Customers can use the platform to exchange ideas and contribute content about the business brand.
Building brand communities is important to marketers because it can be a source of competitive advantage for a business by creating opportunities to differentiate or set a business apart from their competitors. The advantages of building brand communities include:
Members of brand communities (customers) become emotionally invested in the success of the brand and are less likely to switch to a competitor’s brand.
Members of brand communities communicate the brand message and make recommendations, referrals, and share their experiences to social circles they’re involved in.
Members of brand communities provide honest feedback based on their experiences with a product or service that gives businesses valuable information such as a product or service’s strengths and weaknesses (what is and what is not working with a product or service offered) to make it more profitable.
Members can share or suggest new ideas, features, modifications, etc. about a product or brand.
Members of brand communities help other consumers learn how to use a product and the best way to experience the brand.
Members of brand communities provide more authentic reviews and comments, giving businesses a deeper understanding of customer’s needs and desires.
Brand communities cultivate customer-focused relationships between the customer and brand and create a platform where customers can connect with a brand on a deeper level. It increases customer satisfaction and engagement, facilitates growth, and inspires influence. A brand community is vital to marketers in achieving success because placing value in customer needs will ultimately, put a customer’s value in the brand.