January 12: Community-driven businesses

Community-driven businesses create spaces for consumers to create value for one another.

Today’s fact is sponsored by Meetsy:

Say hello to Meetsy — the modern platform that creates stronger relationships within teams and communities through curated 1-1 connections. Create your first matching program and see how your people come together.

If you would like to sponsor Fact of the Day 1, check out my sponsor kit.

---

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)