The latest research on the value of online communities shows the following benefits:
- 35% increasing word of mouth
- 28% increasing brand awareness
- 24% bringing new ideas into the organisation faster
- 24% increasing customer loyalty
Other research is showing that over 6 out of 10 people who search for products or services say they are influenced by 'peer reviews'. Word of Mouth recommendations carry through to the bottom line.
When you also factor in the near 1/4 increase in customer loyalty you can see it online communities not only attract membership but help retain them.
Certainly the experience of Lego, Dell, HP, GM and others has shown that online communities are highly popular and self-sustaining and generate extra retained and new revenue.