Spotify, the global music streaming company, is facing a challenge.
No longer seen as the hipster insurgent force against the traditional music industry, people have a different connotations of Spotify.
People are no longer interested in using Spotify to support music or to stick it to the man.
Their response? To cultivate a community and not just any community; the right kind community.
As digital marketers, we can learn about this when trying to form our own communities.
First of all: We all know that ROI is an undeniable factor is most decisions but its important to remember you’ll never truly forge a community if your main goal/ROI from the community. You should be trying to cultivate a community to spread the importance of Digital Marketing; not your company.
Second, although they should have a role in the community, you shouldn’t keep your community exclusive to paying customers. This is because one the best tactics to gain new subscribers is to cultivate a community that is value loaded. In the end, these none paying customers may not give you anything back for the value you have contributed but that shouldn’t be your worry. Your worry should be cultivating a value loaded community that showcases you as a thought leader and profiles your companies Corporate Social Responsibility and Corporate Citizenship.
What is more, iron sharpens iron. So if you can increase the value people place on Digital Marketing through your community then eventually you’ll increase the market size which increases revenue for you. So by not worrying about ROI you are indirectly increasing your chances of receiving ROI. This is why we’re big believers in collaboration here at BabelQuest.
Third: people often use their communities to tell their story and as a place to dump their latest company news. This doesn't provide value to your dwindling community. I believe you should be using your community to tell the collective story of everyone in your community: clients, non-paying members, staff, different organisations to increase the value people place on digital marketing.
Therefore, we can sum up with that building a community shouldn't be an ROI tactic it should be a part of your core business philosophy.
Should Spotify consistently tune itself into moments like a rush to create ‘moving’ playlists then Farbman believes its “community” will become a bigger part of what attracts users – both free and paid – to it. Rather than pushing up the revenue per-subscriber, the business seems more concerned with convincing more people to use the service and getting those non-more paying listeners to become subscribers.