With the cost to build software going down, the barrier to entry is much lower. Thus, more competition exists. Software companies are now more focused than ever on building long-term customer relationships, which is why they continue to invest in customer-centric teams that advance the relationship beyond a customer’s initial purchase period.
This is also why marketing, customer success, and sales organizations are investing in online communities to grow customer lifetime value. The business case for these buyers will show the potential increase in revenue from retention, upsell, and cross-sell opportunities.
Beyond the direct ROI, an online community will help your software company improve the way it does business with customers online. Online communities enable you to:
- Learn more about your customers’ needs
- Create better channels of communication that humanize your brand
- Create a culture of transparency with constant feedback loops.