Digital Communities

In today’s age the cash is burnt just to acquire customers and build digital communities. For instance, Amazon started with selling just books then shifted to other varieties of product one at a time. They were not even profitable for long time. But they have created a network asset where they can experiment various other products as they wish to. Now they are profitable too.

Zomato and Swiggy have been in the samw race to build the communities and has been adding new products with time apart from food delivery. Another example is Jio Mart. It has started as a grocery e-shop and with time it will be selling electronic items, clothes and more.

The real question is how to build such a large community without burning so much of cash. The answer will unlock the door to various infinite opportunities in coming times. If we see the acquisitions of Microsoft in last 5 years, they are more into buying digital communities like Github(a community for developer), Minecraft( a community for gamer), LinkedIn ( a community for professional) and more. Additionally, they are in the race to buy TikTok.

But how do we build one?

We don’t have any ballpark answer to that. It’s more of coming up with the right product and create awareness for it. The awareness can be created by burning cash or without burning it. Initial part is coming up with the product.

How to come up with a product?

It’s trial and error. Keep iterating until one has best market fit. It’s easy to say than to do. Taking baby steps surely helps as minutely as possible. People generally don’t know what they need until they realize how the product can make life simpler and indirectly lazy.

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