We stumbled across an interesting Forbes article today about leveraging the power of community commerce. Article link at the bottom of the page.
Like many others, promotes authentic content and genuine interactions with the fans of a brand.
It shares tips on how to unlock the power of community commerce through authentic connections.
Here are the headlines (full article in comments).
💯 Cultivate authenticity to build trust
💻 Create a digital home for your fans to engage and share
🤳 Encourage UGC (we prefer to call it FGC - Fan-Generated Content) to demonstrate social proof
👋 Actively engage to show you listen and value your community
🤑 Run exclusive offers to reward loyalty
🤝 Collaborate with influencers to reach wider audiences
For many brands, only a handful of these are part of their marketing strategy. Why? Despite many articles sharing this kind of advice, very few share hard metrics that demonstrate ROI that prompts action by businesses to invest the resources.
So to help, here are some hard metrics Stitcht have managed to help clients achieve by cultivating authenticity, utilising Fan-Generated Content and engaging their community in conversations.
50% reduction in CPA - our most loyal customer smashed their CPA with a single video from a fan who talked so authentically that people converted when the content was shared in an ad.
x9 engagement - sharing relatable content from other fans can drive greater engagement as we've seen for a client who x9 engagement on TikTok.
£75 per video - for one client who had such an engaged fanbase, we managed to get their video production costs for Fan-Generated Content under £75 per video because they are sharing a high volume of FGC. By comparison a typical content creator video would be around £200 per video if they've got under 10k followers.
Engaging your fans, provoking discussion and sharing their relatable videos in your channels can have massive wins and doesn't need to be hard. Stitcht build the sourcing of FGC into the customer lifecycle so that it's part of the customer journey meaning brands can collect it with minimal effort.
If you're a brand with a fanbase but unsure how to activate them and share fan based content in your marketing, book in a call to fast track FGC into your funnel.
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