Are You Using a Community-Based Model? Here’s Why You Should

A sense of community is an incredible loyalty builder. When individuals find a like-minded online group where they can comfortably share their interests and opinions, they tend to stick with it— and invest in it— over a long period of time.

That community loyalty and long-term buy-in is a valuable tool for online groups. In fact, online groups that actively seek to develop a unique community record greater growth and member retention over time.

Why?

• Communities share a common goal. This encourages members to set aside their differences and focus on their commonalities— their shared interests, opinions, tips, and opportunities.

• Communities offer opportunities and resources. Within a community, members have access to opportunities and resources they may not otherwise enjoy outside of the group. From networking connections and member-to-member promotional opportunities to courses and downloads, members stay because they find value.

• Communities offer belonging. Being a member of a group gives individuals the sense of belonging to something bigger than just their family or career. And the greater that sense of belonging, the stronger the community becomes.

Community isn’t just a good idea, it’s good business

In 2020, Harvard Business Review published a study on the topic of community as a driver of business growth. In this report, researchers noted that younger generations are losing interest in the old community model of labor organizations, religious groups, and nonprofits. But those businesses and online groups that tap into the human desire for connectedness and progress towards a shared mission are stronger—and bigger—than ever.

That insightful research review holds true regardless of your community’s goals. Whether you’re a professional group, a business group, or a special interest group, a distinct online community fosters growth, expansion, and member buy-in. When your group properly deploys the right digital community-building tools, your environment can have true “stickiness.”

Want to learn more about launching your own interactive marketplace community?

TAGFI is a community marketplace software company that helps online communities, businesses, and group leaders develop thriving digital communities— and recurring revenue. Visit TAGFI.com/groupleaders to explore our software solutions. To see TAGFI software in action and network with other TAGFI group leaders, join our next event here.