Brought about by the social media revolution, online communities have existed for years, and many companies currently maintain online communities, allowing customers to share their experiences and provide support for other clients. Unlike other social media analytics that can tell you lots about customer sentiment and what’s trending up or down, you can tie the data from your online community directly to key metrics such as conversion rates, product sales, customer lifecycle value, and revenue.
- Meeting customer expectations with regard to convenience, relevance, and instant gratification will define the fate of your organization.
- Recent research suggests that 53% of consumers will abandon an online purchase if they’re unable to find quick answers to their questions.
- The key is to embed the community into the e-commerce website and make all that “crowd-sourced” content available to customers within the online shopping experience.
“Another approach organizations can take involves leveraging the knowledge and expertise of other customers in the form of an online community.”