PlayStation, Figment, Harley-Davidson — these are all multibillion-dollar companies that made a name for themselves despite the competitive landscape in today’s market. Ever wonder what these companies have in common that led them to success?
Brand community. They invested their time and effort wisely into building a community around their brand. At First Circle, we try to model after these market leaders through community building and here’s how we are doing it:
Start with making your customers happy as you won’t be able to build a community around your brand with unhappy ones. To do this, know the underlying problem customers need to solve which is financing. We made our services with small and medium enterprises (SME) business owners in mind by making our process completely online. In three simple steps, you can get financing within three to five 3-5 business days. You can complete the application anywhere by accessing First Circle’s website through your smartphone or web browser. After helping owners meet their business needs, we ensure to provide them with the best customer journey and experience. One of which is rewarding loyal customers by lowering the processing fee once they’ve reach respective tiers.
According to McKinsey, word of mouth is the primary factor behind 20 percent to 50 percent of all purchasing decisions. People want social proof to know the effectivity of a product and the service tied with it. By providing the right incentives, excellent customer service, and convenient tools, we are growing First Circle’s community in an effective way.
In this fast-changing turbulent world, people are always hungry to increase their pool of connection. In the Philippines, it is well-known that one can only rise above the ranks if he established good relationships with people. Unfortunately, one of the blockers challenging SMEs is the avenue for them to meet new business owners and expand their network. This is what we’re trying to solve with First Circle Connect event series by providing SMEs with an avenue to hack relation-building, provide added growth knowledge, and foster business opportunities among our customers.
Social media group
Never mistake technology as your community, instead use it as a tool to create your community. It’s difficult for one business owner to get to know everyone in an event with the limited time for socials and even get to know others who were not part of it. To further provide a platform for SME business owners to be in touch with each other, create stronger relationship and engagement, and feature businesses under specific industries, we have created a Facebook Group for our customers who are open to the idea of it.
Companies are slowly seeing the value of community building and it is recommended to start as soon as you got a product market fit. It is important to know that you don’t need to start off with a strong brand as long as you structure a community. As you grow along the way, don’t go astray with the essence of a brand community: It doesn’t exist to serve your business. Its there to serve its members.
Kyra Nicole Ang is a Marketing Analyst in First Circle focused on Community Building. She started with First Circle as an intern over a year ago and is now responsible for the company’s Referral Program, Loyalty Program, Internal and External Events, Social Media Group, and Offline Marketing.