A community is a group of people with shared values and behaviors. From a wider commercial perspective, online communities are assembled to share unique experiences and solve problems of the customers or members.
Amidst community building, a meaningful shared purpose counts to be the biggest benefactor for the organization.
Generally, communities are large enough that not everyone knows each other but at the same time small enough that everyone feels a sense of responsibility to contribute, generating a higher level of trust than with the wider public.
All successful communities hold events that gather community members for discussions, celebrations, or joint activities, enabling a company to enjoy 40% greater profit margin per account and 5.9% annual increase in customer profit margins whereas peers without an online community platform observe a 0.4% erosion in this metric.
The Importance and Weightage of an Online Community
Self-evaluation, transparency, authenticity, and accountability are crucial for the success of any brand/business.
The CRM market has crossed over a $30 billion market and is still expanding.
People love to be connected to brands and fellow customers. This connection builds loyalty and, in turn, helps increase customer retention and engagement. About 53% of top-performing companies are investing in CRM to scale up their productivity.
Social media channels are great for building awareness and getting insight into ongoing market trends, but it is challenging to have organized multidimensional conversations required for collaborating around complex topics.
A promising solution to this problem is online communities, a strategized business plan to cater at least one or two business needs, and to meet business goals more efficiently than transactional approaches.
Key benefits of Salesforce Online Communities:
Gain Competitive Advantage
Competitive advantage directs us towards keeping existing customers. The basic structure of Communities, i.e. peer sharing helps support customers more effectively. Nearly 92% of marketing and community leaders surveyed reported that their community has an impact on the organization, 25% of which say it’s a large impact.
Higher Outreach potential through advocacy
Reap the beneficial advocacy program at your business by facilitating creativity to help spread the word through online communities.
Outreach improves corporate image and brand reputation and enriches customer experience.
23% of businesses reported an increase in sales by double in a matter of 12 months through an Online Community Integration. This shift is largely a result of the penetration of the Internet. With an overload of information available, people aim to be as educated as possible before making a transactional decision.
Reduce support costs
60% of businesses own an Online Community as it not only benefits in reducing support costs but also redefines customer touch points, therefore increasing customer satisfaction.
Online communities help in improving innovation cycles and internal expertise by connecting businesses to the employees, customers, and partners to recognize market needs and effectively resolve issues and share their expertise.
Accelerate ROI and Growth
Every company today aims at being customer-centric. 86% of business contributors agreed that an Online Community accelerates Business Operations. From emerging upstarts to established corporations, brands of all sizes now appreciate that getting closer to customers is key to long-term business success.
Customers contribute 19% more revenue after joining the Online Community of a Business. This increase, in turn, attributes to a willingness to pay a premium for goods and services as well as an increase in buying intention.
Metrics of how Salesforce employee communities impact the workplace:
- Service and Support
Call deflection. Gaining cost savings, from all forms of contact center, reducing expenditures, such as telephone calls, emails, and chat sessions and enabling employees to solve cases more efficiently, thereby increasing employee productivity.
– Knowledgebase ownership. Improving quality while decreasing the cost of establishing and maintaining a support knowledge base.
- Insights and innovation
– Research. Leveraging employee insights, conducting low on-cost market and product research.
– Incremental improvement. Creating a channel for ongoing employee inputs such as increasing possibilities of valuable solutions or products for the company.
– Employee satisfaction.
– Brand affinity. Engaging employees in communities enables them to get closely related to the brand, which in turn boosts loyalty towards the brand.
– Reach. Get a better picture of what’s beneficial for the brand, the ongoing market trends, developments, competitor activities.
– Convert leads (business to business). Having more possibilities in the employee pipeline.
– Catering specifics of the leads to convert them into the business.
– Brand relations management. Decreasing lead time in identifying the potential brand.
Furthermore, Value of Salesforce Communities for Employees
- Personalized solutions to meet customer’s needs and desires
- Increased respect and relevance to the company, leading to preferential treatment
- Learn about other employees and share best practices
- Increase in individual productivity
Time to value
- Get valuable insights into market trends and customers needs
- Reduced time to increase customer awareness
- Reduced time for offer/pricing experiment results
- Loyalty-based discounts
- Improve satisfaction levels
- Understanding future tech needs
Putting it all together
Employee productivity is important to any business. After all, when teams are able to make substantial gains and improvements, it has a huge impact on the bottom line. A more efficient workforce leads to a more successful business. 65% of organizations have now deployed some form of community platform to assist their employees.