Small World Labs powered communities provide significant value to businesses and their customers in many ways. Here are just a few:
Engage Your Customers Online
This is basic but fundamental. People’s mindshare and attention has moved to the Internet. Furthermore, the number one destination for users online is social networks. Your customers are online. To remain relevant, you need to be engaging them there.
Attract New Customers
Engaged customers become your company’s greatest advocates. An independent study showed that after joining a Small World Labs powered online community, members referred 78% more new customers than they did previously. Additionally, communities can serve as effective teasers to potential prospects.
Improve Customer Engagement & Loyalty
In addition to the time they spend on your private social network, we’ve found that community members spend 300% more time on your other web properties, increasing their engagement not only with each other, but also with your company. This moves customers up the engagement pyramid, increasing their loyalty and renewal rates.
Acquiring more customers and keeping your existing ones directly impact the bottom line. Additionally, communities can influence how much each customer spends with your organization. Small World Labs powered communities have helped increase the average revenue per customer by as much as 437%.
Improve Customer Education
Customers always have questions about your products and services. In your community you can not only provide how to videos, instruction sheets, white papers, and articles, but also solicit feedback that helps improve these materials. Customers are also able to contribute their own materials to your community to share with others, as well as answer each other’s questions.
Receive Product Feedback
In your Small World Labs powered social network, customers are able to provide feedback on your products and services. This feedback can be analyzed to improve existing products and services as well as develop new ones. One Small World Labs client has already received over 4,000 product suggestions via its community.
Enrich Your Data & Customer Understanding
Customers provide a wealth of information about themselves in social networks. Unfortunately, when this happens on 3rd party social networks like Facebook, Twitter, and LinkedIn, that data is owned by the 3rd party network and kept away from your company. In an online community, your company owns the data. This information provides a more comprehensive view of your customers, as well as helps improve your organization’s insights, decisions, and marketing efforts.
Reduce Support Costs and Improve Satisfaction
Handling inquiries and issues via telephone or email is costly and inefficient. The same topic is often attended to by staff over and over again with different members. In a community, a digital library of these questions and answers is developed and each question’s answer can be viewed and referenced many times. Additionally, as a community hits critical mass, members begin to answer each other’s questions faster than you can, driving down support costs and providing a better experience.
Improve Search Engine Optimization (SEO) and Page Rank
All the content and discussions that users add to your community can be made available to indexing by search engines. This provides innumerable keyword combinations that appear in the “long tail” type searches that make up over 70% of overall website search traffic. The addition of these keywords and content would be too costly for your company to create on its own. Additionally, our community platform is designed with effective SEO principles that benefit not only the page rank of your community pages, but also your overall website as well.
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