Power Of Community For Business In Its Growth

What is Community Spread?

Understanding community spread is crucial, especially in the context of the COVID-19 pandemic. Community spread refers to the transmission of a virus within a specific location or community, rather than from a specific source such as travel or contact with an infected individual. This type of spread can be particularly concerning because it indicates that the virus is circulating widely within the community and can lead to a rapid increase in cases.

In a business context, creating a community around your brand can have significant benefits. By building a strong and engaged community, your business can effectively spread from one person to another, and from one community to another. This can result in several advantages, such as creating a widespread influence, reducing the cost of customer acquisition, lowering marketing expenses, increasing brand visibility, and building trust. As trust in your brand grows, so does the potential for increased sales and customer loyalty. Therefore, fostering and leveraging community spread can be a powerful strategy for business growth and success.

How to do community spread?

For example:

PayU Money

When Mr. XXX joined PayU Money, he encountered the challenge of promoting the free product 'PayU Money' across various communities in India. Despite efforts in digital and paid marketing, reaching the diverse Indian communities proved to be a significant obstacle.

To address this challenge, Mr. XXX devised a comprehensive framework. The first step involved identifying the specific communities he aimed to engage and influence. Through research, he discovered that web developers, software writers, and individuals implementing ERP software constituted a community that held the potential to connect PayU Money with millions of customers.

Once the target community was identified, the next challenge was to effectively engage with them to facilitate organic spread. To achieve this, an online campaign titled 'HallaBol' was launched. This initiative included a tweetathon held on 15th August, inviting startups from all over India to participate in a three-hour Twitter campaign. Participants were asked to present a brief pitch about their startup in a 5-second video or message, incorporating the hashtags #hallabol and #payumoney. The response exceeded expectations, with numerous startups, investors, incubators, accelerators, and media professionals joining the tweetathon, which extended to six hours. The campaign gained significant traction and resulted in over $10,000 worth of mentions for the company on Twitter, all at no cost.

Building on the success of the online campaign, an offline initiative called 'The Startup Growth Masterclass' was launched. Mr. XXX conducted these master classes in Tier-2 and Tier-3 cities across India every weekend, engaging with audiences for three hours to impart knowledge on advancing their startups.

This multi-faceted approach emphasized the importance of both online and offline interactions with the customer community. By understanding the intricacies of community engagement and employing a comprehensive strategy, companies can experience exponential growth. Mr. XXX emphasized the pivotal role of community in propelling a company forward, highlighting the need to provide value to the community, whether through monetary or knowledge-based means.

Marg ERP

Marg ERP has established a strong customer community within the pharmacy industry. The chairman or managing director of the company has noted that their software is widely used by the majority of chemists in India and believes that they can further enhance the growth of these businesses by introducing additional features to the software. Recognizing the significant impact they have on the pharmaceutical sector, the company has directed its focus towards creating value for pharma companies.

Taxmantra

Taxmantra is a Kolkata based chartered accountancy firm, and its CEO and founder is Mr. Alok Patnia. Taxmantra focuses on serving a community of founders, including startup founders, company owners, and managing directors. To engage with this community, Taxmantra implemented a strategy called TAD, which stands for Taxmantra Advantage Dialogue. They organized both offline and online community events, with one notable event taking place in Bangalore and hosted at NASCOM's office, with the community handling the event's marketing due to the value it provided. The events featured prominent speakers and contributed to Taxmantra's growing recognition.

In addition to offline events, Taxmantra also conducted numerous webinars and initiated a video series online. Today, they continue to hold TAD events in Singapore and the US. The message is clear: Regardless of your business's nature, participating in community engagement can lead to significant exposure and growth. By offering something unique or interesting that resonates with the community, your product or service can gain widespread attention. Understanding the community and creating value for them is essential for success.