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From Internet retailer
InternetRetailer.com - Daily News for Thursday,*July*24, 2008
Seems to be a trend esp with Internet Brands buying up major car related forums latley. Building a community around your product and giving users the illusion that tey have a hand in it.... What do you think?
Is this a big revenue model?
Would associating a forum with just any old brand work?
PSS they did mis print a URL is is www.big-boards.com not bigboards.com
InternetRetailer.com - Daily News for Thursday,*July*24, 2008
IR said:A tiny technology investment turns into one of the biggest online forums
In 1999, two months after it launched, web-only retailer Bodybuilding.com paid $300 for online forum software from vBulletin to create a forum for its bodybuilders and other fitness buffs to meet, share and learn. It was an extraordinarily small investment for what turned out to be an extraordinarily large success.
Today the e-retailer’s online forum is ranked the 27th largest in any industry by forum monitoring site BigBoards.com. The forum has more than 1.1 million members who create 67,000 threads and 1.3 million posts every month.
“Usually retailers are in a position where they are on one side of a wall and the customers are on the other. We use the forum to blur that distinction and make customers feel they are part of the company,” DeLuca explains. “It’s like how Harley-Davidson sponsors rides and get-togethers and makes its customers feel they are in fact part of the brand. That type of goodwill and those kinds of feelings customers get from a company that brings people together creates extreme loyalty.”
Customer loyalty created by the online forum is one of the biggest competitive advantages Bodybuilding.com has, DeLuca says. “If I had to pin our continued growth as a company on one thing,” he adds, “it would be on building our community online.”
Because it runs one of the largest online forums, Bodybuilding.com spends much more annually on operating a forum than most retailers would, DeLuca says. About $50,000 a year goes into I.T. maintenance, staff time and additional servers. “Our annual spend is on the very high end for a forum because of our size,” DeLuca says.
When it comes to costs, DeLuca contends e-retailing executives who require hard and fast return on what is a minimal investment for an online forum are missing a ripe opportunity. “Executives who just look at hard ROI and manage by spreadsheet and only look at the short-term are blind to the bigger picture,” he says. “When you’re helping people find what they want and understand what they need to know and meet new people, you’re creating goodwill that you just can’t measure. This is a long-term investment that will take some time and a relatively small amount of money, and it’s worth far more than you invest.”
Seems to be a trend esp with Internet Brands buying up major car related forums latley. Building a community around your product and giving users the illusion that tey have a hand in it.... What do you think?
Is this a big revenue model?
Would associating a forum with just any old brand work?
PSS they did mis print a URL is is www.big-boards.com not bigboards.com
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