#114 - Lloyed Lobo - Co-founder of Boast.AI - Building Communities, Connection and Purpose in Business

In this episode of Revenue Today, host Jared Robin interviews Lloyed Lobo, founder of Boast.AI, shares his insights on the power of community in building iconic brands. He debunks the myth that traditional marketing tactics are still effective and emphasizes the importance of building a community around a shared purpose. Lloyed highlights the key traits of successful communities, such as connection, autonomy, mastery, purpose, energy, and recognition. He emphasizes that community is not just a marketing strategy, but a business strategy that serves its members and creates impact beyond the product or service.

KEY TAKEAWAYS

• Marketing is becoming less effective due to increased costs and consumer fatigue with traditional tactics.
• Building a community is a long-term, sustainable strategy for building an iconic brand.
• Successful communities are built on connection, autonomy, mastery, purpose, energy, and recognition.
• The purpose of a community is to serve its members and create impact beyond the product or service.
• The best communities give members autonomy and recognize their unique strengths.

QUOTES

• "Brands of yesterday were built on what they told the world about themselves. Brands of the future will be built on what the community says about them."
• "The best brands know that customers are saying no to the old marketing. It's the same crap over and over again."
• "When people feel deeply attached to the purpose and they have autonomy, they do things like saving the company and organizing fundraisers for causes."
• "Community is not a marketing strategy. Community is a business strategy."
• "The best communities grant freedom and independence while encouraging responsibility."

Connect with Lloyed in the link below:

• LinkedIn: https://www.linkedin.com/in/lloyedlobo/

Ways to tune in:

• Amazon Music: https://music.amazon.com/podcasts/40b665df-1a4f-455a-a514-ef599fd1a106
• Apple Podcast: https://podcasts.apple.com/us/podcast/revenue-today/id1626063261
• Spotify: https://open.spotify.com/show/38z3wZIAcpoAYF5LQ65xON
• Google Podcast: https://podcasts.google.com/feed/aHR0cHM6Ly93d3cucmV2ZW51ZXRvZGF5LmxpdmUvZmVlZC54bWw
• YouTube: https://youtu.be/6KEho9RSaHs