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Last month, I sat down with @eriktorenberg to talk about all things community building.
We discuss...
- community monetization
- using community to create b2b flywheels
- community investing thesis + request for startups
thread
https://overcast.fm/+LDKeqOqyw
We discuss...
- community monetization
- using community to create b2b flywheels
- community investing thesis + request for startups
thread
https://overcast.fm/+LDKeqOqyw
1 / All audiences will launch communities
Audiences like newsletters and social creators will need communities to stay competitive and create stickiness among followers.
But soon we'll reach peak community, and only those with 10x better experiences will attract new members.
Audiences like newsletters and social creators will need communities to stay competitive and create stickiness among followers.
But soon we'll reach peak community, and only those with 10x better experiences will attract new members.
2 / Communities are new age media businesses 
The end state of a community is a new-age, full stack vertically integrated media business.
Slack groups and newsletters will launch podcasts, courses, funds, and news & events aggregators.
Look at @PMMalliance or @fintechtoday_
The end state of a community is a new-age, full stack vertically integrated media business.
Slack groups and newsletters will launch podcasts, courses, funds, and news & events aggregators.
Look at @PMMalliance or @fintechtoday_
3 / Community is ultimate b2b flywheel
Community improves every function of the enterprise:
support + success = less tickets, churn
marketing = perpetually warmed leads vs. trad. marketing funnel of one-off touches
product = more informed roadmap
sales = builds trust first
Community improves every function of the enterprise:
support + success = less tickets, churn
marketing = perpetually warmed leads vs. trad. marketing funnel of one-off touches
product = more informed roadmap
sales = builds trust first
4 / Community Driven is the New Data Driven 
In the enterprise, community will follow the path of data science and analytics teams – moving from a silo to a center of excellence in most organizations.
Community playbooks will soon become as good as b2b sales processes.
In the enterprise, community will follow the path of data science and analytics teams – moving from a silo to a center of excellence in most organizations.
Community playbooks will soon become as good as b2b sales processes.
4 / Community Monetization 
Community biz models must be value additive, not value extractive like internet ads.
Advice for @beondeck to further monetize:
Launch a fund to capture a % of value that's created by the network, + at same time reinvest $$$ back into the ecosystem
Community biz models must be value additive, not value extractive like internet ads.
Advice for @beondeck to further monetize:
Launch a fund to capture a % of value that's created by the network, + at same time reinvest $$$ back into the ecosystem
5 / Request for community startups 
Don't build another 'Slack clone' or a one-size-fits-all, feature bloated platform.
The next gen of community tools will be best in world at one small component of the community experience like @IcebreakerVideo, @LumaHQ or @commsor.
Don't build another 'Slack clone' or a one-size-fits-all, feature bloated platform.
The next gen of community tools will be best in world at one small component of the community experience like @IcebreakerVideo, @LumaHQ or @commsor.
6 / Treat communities like products 
Communities need to radically reinvent themselves every 3 years to stay relevant. A community is susceptible to the same competitive forces as companies.
Communities that get complacent will die...don't be a Blockbuster in a Netflix world
Communities need to radically reinvent themselves every 3 years to stay relevant. A community is susceptible to the same competitive forces as companies.
Communities that get complacent will die...don't be a Blockbuster in a Netflix world
To learn about all of the above, check out the full interview!
https://overcast.fm/+LDKeqOqyw
And if you enjoy it, be the first to subscribe to my upcoming newsletter for founders/investors on Community + Business Strategy
https://rivetingstuff.substack.com/welcome
https://overcast.fm/+LDKeqOqyw
And if you enjoy it, be the first to subscribe to my upcoming newsletter for founders/investors on Community + Business Strategy
https://rivetingstuff.substack.com/welcome
