How did one man go from a war refugee to a successful multi-millionaire? Check this out:
Lloyed Lobo had a tough childhood, living in Kuwait right when Saddam Hussain invaded. His story about how his family got out, and then how he learned how to thrive is amazing. He earned much of his success due to his knowledge of how to build a community. A strong community can accelerate a company.
In this week’s episode of Scale Your SaaS, Lloyd Lobo, Co-founder and board member at Boast, shares insights on winning with the help of building community with host and B2B SaaS Sales Coach Matt Wolach. Let’s dive in!
Podcast: Scale Your SaaS with Matt Wolach
Episode: Episode No. 280, “From Kuwait Refugee to Multi-Millionaire – How Lloyed Lobo Used Community-Led Growth to Succeed”
Host: Matt Wolach, a B2B SaaS sales coach, Entrepreneur, and Investor
Guest: Lloyd Lobo, Co-founder and Board Member at Boast
TOP TIPS FROM THIS EPISODE
Compete in a More Focused Market
To create a movement, you must gather like-minded people who share a common goal or passion. Your community should be a place where they can come together and interact with one another. It could be a Facebook group, a LinkedIn community, a dedicated forum, or even regular webinars or events.
An example would be the virtual webinars you organized during the pandemic. This is an excellent way to foster interaction and engagement within your community. Encourage discussions, ask questions, and create opportunities for members to connect with one another. The more engaged your community is, the more likely it is to become a movement.
Build a Loyal Niche Audience
Once you have an audience, you can build a community around them. Engagement is critical here. Interact with your audience on social media, respond to comments, and genuinely connect with them. Consider creating a private Facebook or LinkedIn group where members can engage in discussions related to your niche.
Hosting events and webinars is another effective way to foster a sense of community. Bring in experts or thought leaders to share their insights and knowledge. Encourage your audience to participate, ask questions, and share their experiences.
As you continue to engage with your audience and provide value, you’ll start seeing a community forming around your brand or niche. This is where the magic happens.
The Concept of Movement
Now, let’s talk about the concept of a movement. A movement is about taking your community’s shared goals and aspirations to the next level. It’s about creating a sense of unity and purpose among your audience.
One way to do this is by rallying your community around a cause or mission that aligns with their values and goals. For example, if your audience consists of environmentally conscious individuals, you could organize community clean-up events or fundraisers for eco-friendly initiatives. This brings your community closer together and shows that your brand stands for something meaningful.
Rituals are essential in maintaining a solid community. These can be regular events, challenges, or traditions your audience looks forward to. For instance, you could host a weekly “Ask Me Anything” session with industry experts or run monthly challenges related to your niche. These rituals keep your community engaged and coming back for more.
Finally, your community can evolve when your brand becomes synonymous with the niche or cause you serve. This level of loyalty is achieved when your audience believes in your brand and becomes advocates and ambassadors for it. They share your message, defend your brand, and help it grow.
Consistency Is Key
Remember that consistency is vital throughout this journey. Whether you’re building your audience, nurturing your community, or growing your movement, maintaining a steady presence and delivering value consistently is what will make your efforts successful in the long run.
In conclusion, building a community-led growth strategy is about understanding your ideal customer profile, identifying their aspirations and problems, and creating a community that provides value and fosters engagement.
It’s a journey from audience to community to movement to, in a non-religious sense, a cult or religion. And throughout this journey, consistency is your magic ingredient for turning small actions into significant achievements. So, start building your community and watch it grow into something truly remarkable.
[7:00] “Life isn’t about the journey or the destination. It’s your companions who you go through it with.”
[8:10] “Sales is the best skill to learn if you want to be an entrepreneur. Sales is finding your first customers, figuring out and prioritizing what to build.”
[21:25] “Five rules for community-led growth that can be applied within their own businesses. The first step is starting with the ideal customer profile.”
[39:00] “When you sell features, you die with those features. When you sell aspiration, you live forever.”
[19:04] “How frustrating is it when you have a great demo? You’re feeling good. They like it. It seems like a done deal. And then crickets, nothing reaches out. They’re not responding to you at all.”
[32:19] “I talked to so many leaders who try something and it might have been the right thing, but they never gave themselves a chance to prove it. They never gave themselves a chance to get better at it and show themselves that that’s the right thing. And so they stop it before it ever evolves into that phenomenal, perfect way to drive leads or get people excited or close deals or whatever it is. So I love that you’re saying that be consistent, be persistent with it, keep it going. And I think that that’s really critical.”
To learn more about Boast, visit: https://boast.ai/contact/
You can also find Lloyed Lobo on LinkedIn: https://www.linkedin.com/in/lloyedlobo/
Grab a copy of Lloyed’s new book, ‘From Grassroots To Greatness: 13 Rules to Build Iconic Brands with Community Led Growth’ https://FromGrassrootstoGreatness.com (Top New Release on Amazon).
For more about how host Matt Wolach helps software companies achieve maximum growth, visit https://mattwolach.com/