Thread by @lolitataub

📚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

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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

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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
hbr.org/2020/01/when-c…

The benefits of community-driven businesses
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
medium.com/conductal/the-…

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

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cmxhub.com/ryan-hoover-on…

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

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