January 12: Community-driven businesses
Community-driven businesses create spaces for consumers to create value for one another.
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Source: Lenny’s Newsletter
Published: November 2021
Community-driven businesses
More and more companies are asking users to “join the community” whether that be on Slack, Discord, or a forum. Community-driven businesses create spaces for consumers to create value for one another.
“To build an audience, you help people.
To build a community, you help people help each other.”
- David Spinks, co-founder of CMX
Community unlocks the ability to scale value creation, with a relatively small team. For example:
It’s how Duolingo is able to run 2,600 events every month with a community team of three people. (video)
It’s how 83% of questions asked by Salesforce customers are answered by other customers. (read more)
It’s how a subreddit with 155,000 members helps Notion users exchange ideas for how to be more successful with the product. (r/Notion)
It’s how Instant Pot’s 3.1M member Facebook group shares recipes and helps each other troubleshoot problems.(read more)
It would be interesting to see a companion fact about how company's manage community/forum content. It's often a source of concern for the publisher/brand