Why Communities Are The New Markets

If you are invested in any of the global stock markets you recently experienced some unnerving fluctuations as valuations fluctuated by 25% or more in a matter of days.

And what was the cause?  Human behavior.

There is no other way to explain the highs and lows.  The value of those companies did not materially change more than a few percentage points during that period – if at all.

Markets are Irrational

Those fluctuations were driven by the irrational behavior of millions of people who are largely disconnected from each other.  If they were connected in some way, then that behavior could be managed for the betterment of everyone concerned.

When people share a connection you have a community.  Your customers are a community.  The subscribers to this blog are a community.  You can communicate with a community – and that’s why your business should be focused on communities rather than markets.

Communities are Cohesive

It is common for technology start-ups to have a community manager role.  This is distinct from the role of a marketing manager in that it is designed to nurture the community.  It recognizes that marketing today emerges from the community, not the organization.

Before social media, the sharing of favorable experiences with your company was simply “known as word-of-mouth advertising.” It’s interesting how the use of the combination of the word advertising makes social sharing feel a bit … slimy.

Communities are people.  And they share to help their friends. You can encourage that behavior by being a part of the community and sharing with them.  It’s a simple process.

Communities Have Your Back

And it’s a very reliable one.  Communities have your back.  They won’t dump your “stock” because of some irrational fears.  Community members will check in with others in their community before making decisions – especially when there are significant consequences.

If you are marketer, you will be well served to forget about markets.  Communities are the new markets.

  • You can commune with your communities –  to share, well … community.
  • You can communicate with your communities – sharing useful information that solves problems.
  • You may even commute with your communities – sharing a ride to a destination that may either be planned or yet undetermined.

Communities are common.  They are everywhere.

All you have to do is engage with and support them and they will do the same for you in kind.

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Until tomorrow,  Jeff