An online community can provide many advantages to your business. But you need to build the business case to sell it internally.
At Lithium, we believe in taking a holistic “Total Community” approach to how an online community will impact your entire business. An online community is not simply software from a vendor that you add on, it is a way of relating to your customers.
Still, any investment made into a business needs to be tied to revenue. In this paper, we examine the three primary ways – savings, sales and satisfaction -- a Lithium-powered online community ties to your revenue so you can build the business case for community.
Learn how to:
- Calculate ROI based on savings from call deflection and improved efficiency
- Predict sales impact from improved SEO, conversion rate lift and larger order values
- Demonstrate improvements to customer satisfaction through Net Promoter Score and Customer Lifetime Value
“The AT&T Community generated over $30 million in savings for the organization.”
Building the Case for Community
Learn how to calculate ROI based on three key metrics to sell community into your business.
We use a proprietary formula to calculate ROI based on savings, considering gross revenue, a portion of annual gross revenue dedicated to cover support costs, and an estimated reduction in support costs, derived from a proprietary algorithm. Learn more in this report.
Thriving Lithium communities have been proven to impact sales in B2C businesses in customer lifetime value and increased sales volume and amount per sale in community members. Learn how to use our proprietary formula to calculate sales lift for your business.
The customer experience provided on a Lithium-based community drives improved Net Promoter Scores (NPS), which leads to improved customer loyalty. It also increases the Customer Lifetime Value (CLV). Learn how to calculate your potential for improvement in this report.
“Comcast projected the ROI of their community to increase by 500% by the end of 2015.”