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Why online communities are growing—and how you can get more from them?

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posted Feb 4 by Rishabh Agarwal

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Online communities have become a necessity in today’s business world. To appreciate just how dominant they have become, consider these stats:

  • According to Forrester Research’s 2015 Customer Lifecycle Journey report, 81 percent of companies now have community-type support channels—a steep increase from 2012’s 67 percent figure.
  • The 2015 edition of the GreenBook Research Industry Trends report shows that 50 percent of market researchers now use online communities. An additional 34 percent say they’re considering launching online communities for research purposes.
  • The social business market, which runs largely on community platforms, is expected to reach $23 billion by 2019.

Why online communities are growing

  1. Customers demand a seat at the table.
  2. Communities reduce business costs and drive sales
  3. Companies need instantaneous feedback and insight
answer Feb 5 by Monisha R Shetty