In a webinar session two weeks ago, I asked the audience if they could summarise their strategy in a sentence.
About 75% of people simply restated their goals (i.e. reduce churn, increase loyalty etc..)
Not a single participant could effectively list a clear strategy.
A strategy is the ‘why’ you will achieve your goals (not to be confused with the strategic plan)
A strategy is the unique value you provide your members which they can’t get anywhere else.
A strategy is a statement about what you will prioritise to deliver that unique value.
A strategy is the reason why members will perform the behaviors you want them to perform.
A strategy is how you will deliver better value to your members than any other channel.
You can typically boil this down into a couple of words. Here are some examples:
- Being the quickest.
- Least effort to find information.
- Most reliable/trustworthy.
- Most exclusive.
- Most diverse.
- Most focused.
- Targeting beginners.
- Targeting experts.
These are all very valid strategies which define in a sentence the indispensable value your community provides to members.
The strategy at its very core is the critical decision about the unique value you offer your members. It’s the most important decision you will make. The only thing worse than making the wrong decision is making no decision at all.
p.s. final chance to sign up for today’s webinar; The New Era of Community Building (and what it means for your community strategy)