192: The Importance of Building a Community for Your Hardware Startup

Lloyed Lobo is the co-founder of Boast.ai & Traction, boasting an impressive $100 million in funding, and the esteemed author of "From Grassroots To Greatness: 13 Rules to Forge Iconic Brands through Community-Led Growth". He is here to impart invaluable insights to inventors, startups, and small-scale manufacturers. In this episode, Lloyed unveils the crucial stages of audience engagement, their profound impact on hardware product sales, and actionable tools to initiate immediate community-building efforts.Here are the key takeaways from this episode:
Every obscure concept that evolves into a global sensation traverses four distinct phases.
Understand the progression from an audience to a cohesive community and eventually into a dedicated cult brand following.
Discover how to transform an obscure idea into a devoted cult brand by focusing on communication, creation, and unwavering consistency.
Embrace inbound marketing strategies to educate and engage your audience effectively.
Recognize that your audience evolves into a community when they come together around a shared purpose that transcends your product.
Foster an unyielding belief in your mission, as yesterday's innovation can quickly become today's commonplace, as seen by Nike, Harley, and Apple.
Cultivate a feedback loop that transforms customers into brand evangelists, driving organic growth.
Build a thriving community by adhering to six core values that unleash happy "CAMPERs" – Connection, Autonomy, Management, Purpose, Energy, and Recognition.
Identify your ideal customer profile to effectively target your community-building efforts.
Map out your circle of influence to discover the platforms where your potential community members congregate.
Choose the type of community you wish to create, be it a community of practice, product enthusiasts, or playful engagement.
Focus initially on building your audience, subsequently nurturing them into a thriving community.
Concentrate on acquiring email addresses as a key step in your journey to interact and engage with your audience effectively.
Lloyed Lobo Links:LinkedIn | Boast.AI | BookThe Product Startup Podcast Links:https://www.ProductStartup.com/Instagram | LinkedIn | Facebook Page | Facebook Group | Pinterest | Twitter | YouTubeMako Design Links:https://www.makodesign.com/YouTube | Instagram | LinkedIn | Facebook | Pinterest | TwitterKevin Mako Links:Instagram | LinkedIn | Quora | Facebook |