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Underestimated founders + investors: what do you think about community-driven cos? In this thread I explore:
What makes for a community-driven co 
The benefits of community-driven cos
Community must-haves
Tactics to build community
Community-driven cos /1
A community-driven co has a community that
has shared values + provides value by solving problems of its members
has members identify w/the community, trust it, and give to it
sets off a marketing and sales flywheel
informs the cos product development
/2
has shared values + provides value by solving problems of its members has members identify w/the community, trust it, and give to it sets off a marketing and sales flywheel informs the cos product development /2
The benefits of community-driven cos
They increase
retention
LTV
sales leads
organic word-of-mouth
membership
margins
sticky factor
difficulty in replicating the business
ease to recruit talent
For more read @bussgang's post. /3 https://hbr.org/2020/01/when-community-becomes-your-competitive-advantage
They increase
retentionLTVsales leads organic word-of-mouth membershipmarginssticky factordifficulty in replicating the business ease to recruit talent For more read @bussgang's post. /3 https://hbr.org/2020/01/when-community-becomes-your-competitive-advantage
The benefits of community-driven businesses
They decrease
CAC
churn
marketing costs /4
They decrease
CAC churn marketing costs /4
Community must-haves
origin story
vision, mission, and values
shared experiences
community management
ability for members to exchange value with one another
For more read @_Daniel_Ospina's post. /5 https://medium.com/conductal/the-difference-between-communities-groups-and-networks-179ac2052f25
origin story vision, mission, and values shared experiences community management ability for members to exchange value with one another For more read @_Daniel_Ospina's post. /5 https://medium.com/conductal/the-difference-between-communities-groups-and-networks-179ac2052f25
Tactics for building community by @rrhoover via @CMX
Bring community into the journey
Integrate feedback loops
Be welcoming
Add value
Create interconnectedness
Meet
Err on the side of transparency
/6 https://cmxhub.com/ryan-hoover-on-how-to-launch-and-grow-a-community-driven-content-platform/
Bring community into the journey Integrate feedback loops Be welcoming Add value Create interconnectedness Meet Err on the side of transparency/6 https://cmxhub.com/ryan-hoover-on-how-to-launch-and-grow-a-community-driven-content-platform/
Examples of awesome community-driven companies:
@chiefamongstus - a community of women leaders
@MongoDB - a community of developers
@splice - a community of music creators
@codecademy - a community of learners
/7
@chiefamongstus - a community of women leaders @MongoDB - a community of developers @splice - a community of music creators @codecademy - a community of learners /7
