Building a Strong Community and Benchmarking Growth for Your Business

Glasp

Hatched by Glasp

Jun 30, 2023

3 min read

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Building a Strong Community and Benchmarking Growth for Your Business

Introduction:

Building a successful business goes beyond just offering great products and services. It's about connecting with your local community and understanding the benchmarks necessary for growth. In this article, we will explore two important aspects - getting your restaurant involved in the local community and benchmarking growth for social apps. By combining these concepts, we can gain unique insights into building a thriving business.

1. Take A Field Trip:

The "every (wo)man for himself" approach may seem tempting, but community involvement can actually benefit your business in numerous ways. By establishing profitable and professional relationships, you can expand your brand reach and tap into new audiences. Taking a field trip to local events, farmers markets, or even partnering with other businesses can help you connect with the community on a deeper level. When you actively participate and contribute, you become an integral part of the community, fostering loyalty and support.

2. The Power of Positivity:

In both local community involvement and social app growth, positivity plays a crucial role. Creating a positive environment within your restaurant, where customers feel valued and appreciated, can lead to increased loyalty and word-of-mouth referrals. Similarly, for social apps, users should have a positive experience that they want to share with others. By focusing on providing value and a seamless user experience, your app can organically grow through viral sharing, ultimately reducing the need for expensive paid marketing.

3. This Little Piggy Went To Market:

Just as a restaurant benefits from sourcing local ingredients, social apps need to benchmark their growth metrics. For restaurants, sourcing locally not only supports local farmers but also enhances the community connection. Similarly, benchmarking growth metrics for social apps helps track progress and identify areas for improvement. Defining core metrics like daily active users (DAUs) or weekly active users (WAUs) allows you to understand user engagement and optimize your app accordingly.

4. Surprise & Delight:

Surprising and delighting your customers is a powerful way to build loyalty and create memorable experiences. In the restaurant industry, this can involve offering special promotions, personalized recommendations, or even hosting exclusive events for loyal customers. For social apps, surprising and delighting users can be achieved through regular updates, new features, and personalized notifications. By consistently exceeding expectations, you can keep users engaged and increase retention rates.

5. Everyone's A Winner:

Shifting from a "me, me, me" approach to a "we, we, we" mentality can benefit both restaurants and social apps. Collaboration and partnerships within the local community can lead to mutually beneficial outcomes. By supporting other businesses, you create a network of support that can help promote each other. Similarly, for social apps, creating a sense of community and encouraging users to invite their friends can result in exponential growth. Users become your brand ambassadors, helping to spread the word and attract new users.

Actionable Advice:

  • 1. Engage with the local community by attending events, partnering with other businesses, and supporting local initiatives. This will expand your brand reach and foster loyalty among customers.
  • 2. Focus on creating a positive user experience for your social app. Delight users with regular updates, personalized features, and a seamless interface to encourage viral sharing and organic growth.
  • 3. Benchmark your growth metrics regularly and strive for continuous improvement. Identify areas of strength and weakness, and make data-driven decisions to optimize your restaurant or social app for success.

Conclusion:

Building a successful business requires more than just great products or services. It involves actively engaging with the local community, fostering positivity, and benchmarking growth metrics. By following the actionable advice provided and incorporating unique insights, you can create a strong community presence and achieve sustainable growth for your business. Remember, it's not just about you, but about the collective "we" that drives success.

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