When people talk about social media they focus primarily on the platforms. What they speak less often about is the community i.e. the intangible focus of the primary platforms. Community is ultimately the creation goal of social media and we believe we need this community because it will do what?
That’s right: drive sales.
Like all communities, though, it has a relatively finite size. There are only so many people who will have known of or heard about your brand and that size of people will not increase rapidly but slowly as new people are introduced or discover your brand. The community rate of increase can be scaled up by introducing things like advertising or by thinking about community in the same way that a business development manager thinks about growth.
Business Development focuses on identifying and creating partnerships that can be leveraged for driving revenue, increasing distribution or enhancing a product. These are principles that can be similarly used to increase and enhance your social media channels to also drive revenue, increase distribution and enhance a product (in this case the product would be your social media platforms). If you take this partnership based model, you can begin to grow your community exponentially by also dipping into the communities of other people.
The dark blue spaces show where you overlap in your community and this is where you should begin to identify other communities that may be of interest to your current community and where you have the potential for growth. However, you have the possibility of getting the entirety or a large portion of the rest of the partnership community if you execute the partnership in the right way. This is something that people routinely forget.
In the next post, we will share how to identify partnership opportunities, find the right partners, build social media partnerships and put this into practice.
Have you tried this model to grow your audience? Learn more in our e-course coming soon!