109 Lloyed Lobo - Community Led Growth: Brand Leaders of Tomorrow Part 1

In this episode of SaaS Fuel™, Jeff Mains takes us on a journey with our guest Lloyed Lobo, co-founder and President of the fintech platform Boast.Al.

Lloyed's story is a rollercoaster ride, from being a refugee to an "awkward engineer" to a SaaS founder. Lloyed is also the author of ‘From Grassroots To Greatness: 13 Rules to Build Iconic Brands with Community Led Growth’ (foreword by Jason Lemkin), which covers tactical advice from community-led businesses both big and small.

Along the way, he shares valuable insights on the power of community-led growth and how it can transform your business.

Jeff and Lloyed discuss the importance of finding your ideal customer profile (ICP) and understanding their circle of influence. They dive into Lloyed's strategies to build a thriving community, explore the role of communication and creativity in driving success, and how being contrarian can lead to big wins.

Get ready to be inspired and entertained as Jeff and Lloyed uncover the secrets of building an iconic brand with community-led growth.

Key Takeaways

[00:01:55] - The magnetic pull of the community

[00:05:08] - Transforming users into a tribe

[00:09:41] - Uncertainty and risk during childhood

[00:12:30] - Community and entrepreneurship go hand-in-hand

[00:17:15] - Overcoming limitations through communication

[00:19:02] - The power of effective communication

[00:27:01] - Communication and creation

[00:34:05] - Hosting Tactical Founder Events

[00:37:11] - Building a thriving community

[00:41:07] - Focus on customer needs and aspirations

[00:44:11] - Iterative approach to building a business

[00:49:56] - Community-led growth is valuable

Tweetable Quotes

"The brands of yesterday were built on what they told us about themselves. Brands of the future will be built about what the community says about them." - 00:07:12 Jeff Mains

"You could be on a crappy journey on the way to hell and great companions make it memorable." - 00:13:12 Lloyed Lobo

"The only way to create abundance in life is to help others without expecting anything in return." - 00:14:50 Lloyed Lobo

"Learning to communicate and learning to create, if you combine that together, you can do big things." - 00:27:35 Lloyed Lobo

"I don't care what we do, as long as we build the company we want to work for, I'm in." - 00:23:12 Lloyed Lobo

"Now, you know, I think the only way to win in the world is to be contrarian, have a contrarian view and hope that it's right." - 00:35:50 Lloyed Lobo

"I think, the most important experience in my journey, because if I hadn't had that experience, I wouldn't know how to now translate customer requirements into developer requirements and how to infuse marketing." - 00:27:41 Lloyed Lobo

SaaS Leadership Lessons

1. Embrace the Power of Community. A satisfied customer will use your product, but a loyal community member will fight for it. Building a community around your business creates a sense of belonging and loyalty that goes beyond mere satisfaction.
2. Find Your Tribe. Identify your ideal customer profile (ICP) and understand their needs, pain points, and aspirations. By focusing on a specific target audience, you can create a community that resonates with them and provides value.
3. Be Contrarian. Don't be afraid to go against the grain and take a contrarian approach. In the case of Boast AI, they focused on serving startups and founders when others were advising against it.
4. Create Valuable Content. Provide valuable content and resources to your community. Hosting events, writing articles, and producing podcasts are effective ways to engage with your audience and establish yourself as a thought leader in your industry.
5. Foster Partnerships. Collaborate with other vendors, speakers, and journalists who are influential within your community. By bringing in trusted voices and experts, you enhance the credibility and value of your community.
6. Consistency is Key. Maintain a consistent presence and engagement with your community. Regularly host events, publish content, and provide opportunities for members to connect and learn from each other. Consistency builds trust and keeps your community engaged.
7. Adapt and Evolve. As your community grows, be open to feedback and adapt your strategies accordingly. Listen to the needs and desires of your community members and adjust your offerings to meet their evolving expectations.

Guest Resources

Lloyd Lobo (Linkedin): https://www.linkedin.com/in/lloyedlobo

Lloyd Lobo (Website): https://www.lloyedlobo.com/

From Grassroots to Greatness: https://www.lloyedlobo.com/

Boast AI: https://boast.ai/

Resources Mentioned

SaaStr: https://www.saastr.com/

Boast AI: https://boast.ai/

Xerox: https://www.xerox.com/en-us

Alex Popa: https://www.linkedin.com/in/alexpopa1

Tiffany & Co.: https://www.tiffany.com/

Armani: https://www.armani.com/en-ph

Simon & Schuster: https://www.simonandschuster.com/

Gary Vee: https://garyvaynerchuk.com/

HubSpot: https://www.hubspot.com/

Twilio: https://www.twilio.com/en-us

Atlassian: https://www.atlassian.com/

Zoom: https://zoom.us/

Spotify: https://open.spotify.com/

Frederic Lardinois: https://www.linkedin.com/in/fredericlardinois

TechCrunch: https://techcrunch.com/

Zoho: https://www.zoho.com/

Zapier: https://zapier.com/

Webflow: https://webflow.com/

Bubble: https://bubble.io/

Radiant Capital: https://radiant.capital/

Traction: https://www.tractionco.com/

Episode Sponsor

If you like the idea of community then you need to pick up a copy of a new book called From Grassroots to Greatness:13 Rules to Build Iconic Brands with Community-Led Growth. We’ve all seen how traditional marketing, and even digital marketing, is losing its edge. It’s harder and harder to stand out. Features won’t do it. Big personalities won’t do it. Gimmicks may work temporarily but the novelty of being a dancing bear wears off. How do you stand out?

Community. That’s where it’s at.

1) We’re lonely as a society and need connection

2) We want a place to fit in with people we have something in common with. A thriving community is your biggest asset - even bigger than a brand. In his book, Lloyed lays out 13 rules to attract your own army of raving fans. It’s your ultimate acquisition channel, brand differentiator, feedback source, retention lever, and catalyst for transformative change. 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 book releases today so grab your copy at fromgrassrootstogreatness.com or Amazon.

Small Fish, Big Pond – https://smallfishbigpond.com/ Use the promo code ‘SaaSFuel’

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