If you want to build a community you have to focus on how you can provide value to them, but once you have one you can save a lot of money on marketing. Connecting people is Lloyed Lobo’s superpower, and today we talk to him about how he built a community of over 60,000 people and the returns this investment of his time is producing. Lloyed is Co-Founder and President of Boast.AI, and he is also one of the Co-Founders of the amazing Traction Conference. Before getting into the topic of community, Lloyed gives us the rundown of how Boast fuels the growth of innovative companies by automating R&D tax applications and more. From there, Lloyed talks about how the aims at Boast, to serve their clients, grew into early community-building events that evolved into the Traction Conf. We hear tips and tricks from Lloyed about the best ways of building a community, key learnings he had on his journey, and about the incredible conference Traction has evolved into. Lloyed highlights that a community-building strategy should only be used if you are prepared to give without expecting anything in return and if connecting people is truly your passion. For all you need to know about bringing people together and the power of leveraging networks as a secret marketing weapon, tune in today!
TIME-STAMPED SHOW NOTES:
[00:21] Before we jump into today’s interview, please rate, review, and subscribe to the Leveling Up Podcast! [01:04] An overview of Boast’s services automating R&D tax applications and more. [00:40] How the mission to expand Boast and build a community birthed Traction. [04:36] The complexities of the R&D tax credit system in the U.S and Canada. [09:50] How Boast is using a fund to offer R&D returns quarterly. [11:12] Boast’s model for making money by taking a percentage of R&D returns. [11:35] Key learnings Lloyed had on the road to building Traction. [16:36] The last few years of Traction, how it has evolved and what it involves. [17:35] How Lloyed built Boast and his community using a philosophy of giving, not marketing. [19:43] The time it took to build Traction from its less formal stages to where it is now. [20:01] Community building tips: Email lists, in-person events, cadence, and a passion for connecting. [23:30] The return on investment of building a community. [24:47] The key to building a successful business and the steps to building a community. [28:28] Using Nir Ayal’s Hooked model to keep communities engaged. [29:39] Lloyed’s favorite book and different sources he gets his knowledge from. [31:07] Brilliant webinars Lloyed has recently engaged with.
Resources From The Interview:
Lloyed Lobo Lloyed Lobo Email Boast.AI Launch Academy Salesforce Twilio TechStars Founder Institute Startupfest Mars Eventbrite Josh Fechter Blitzmetrics Dennis Yu on Twitter Matt Epstein Nir Eyal Rippling Zenefits Must-read books: Hooked, Blitzscaling
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