{"id":27684,"date":"2017-07-05T08:59:56","date_gmt":"2017-07-05T12:59:56","guid":{"rendered":"https:\/\/www.wework.com\/creator\/creator\/?p=27684"},"modified":"2020-02-26T14:25:54","modified_gmt":"2020-02-26T19:25:54","slug":"want-build-community-heres-150-startups","status":"publish","type":"post","link":"https:\/\/www.wework.com\/ideas\/professional-development\/creativity-culture\/want-build-community-heres-150-startups","title":{"rendered":"Want to build community? Here&#8217;s how over 150 startups did it"},"content":{"rendered":"\n<p>What do over 60 percent of <a href=\"http:\/\/graphics.wsj.com\/billion-dollar-club\/\">startups valued at over $1 billion<\/a> have in common? Community. They either employ a community team, or collaboration is fundamental to their business model. Think Airbnb, Lyft, Xiaomi, Pinterest, Dropbox, DocuSign, Instacart\u2014the list goes on. They all invest in community.<\/p>\n\n\n\n<p>Why? Because community is disruptive, and it\u2019s how many startups are breaking through. But how do you make a smart investment in it? Let\u2019s break down some recent research we&#8217;ve gathered at CMX of over 150 startups that reveals how companies are making it work. Here are six ways you can get started.<\/p>\n\n\n\n<h2  id=\"1-build-community-for-its-marketing-value\"class=\"wp-block-heading\">1. <strong>Build community for its marketing value<\/strong><\/h2>\n\n\n\n<p>The most common reason startups build community is because it has scalable, marketing value. When you\u2019re the new kid on the block, having a community can help your brand spread, utilizing word of mouth influence. <a href=\"https:\/\/influitive.com\/blog\/mongodb-turned-customers-effective-content-marketing-tool-drove-50000-new-website-visits-months\/\">MongoDB<\/a>, <a href=\"http:\/\/www.theskimm.com\/\">The Skimm<\/a>, and <a href=\"http:\/\/hustlecon.com\/\">Hustlecon<\/a> are a few companies that have had great success with this and it\u2019s catapulted them to the next level.<\/p>\n\n\n\n<p>Communities can also help build up thought leadership, give power to customer advocates, and, most importantly, even drive referrals. 25 percent of the startups surveyed say they build community to drive either marketing or support value.<\/p>\n\n\n\n<h2  id=\"2-if-marketing-doesnt-fit-start-with-support\"class=\"wp-block-heading\">2. <strong>If marketing doesn\u2019t fit, start with support<\/strong><\/h2>\n\n\n\n<p>If you\u2019re more concerned with getting your existing customers the help they need (i.e. you\u2019re having retention problems), support may be a more urgent place to start.<\/p>\n\n\n\n<p>Quantifying the ROI of support community is pretty simple, and that should bring some comfort to cash-strapped startups. You can compare your support costs before and after launch, and compare the time your in-house team spends answering questions with that answered by the community. Examples of companies doing this right are Teachable, Salesforce, or Box.<\/p>\n\n\n\n<h2  id=\"3-be-flexible\"class=\"wp-block-heading\">3. <strong>Be flexible <\/strong><\/h2>\n\n\n\n<p>Humans demand flexibility, and because communities are built on human connection, your approach to community must be agile and constantly evolve. As Socratic founder Chris Pedregal so eloquently put it, \u201cYou build community in human time\u201d not in \u201cinternet time.\u201d<\/p>\n\n\n\n<h2  id=\"4-build-confidence\"class=\"wp-block-heading\">4. <strong>Build confidence <\/strong><\/h2>\n\n\n\n<p>About 76 percent of startups said that they don\u2019t feel that they have the right metrics in place to measure their community\u2019s impact.<\/p>\n\n\n\n<p>However, there are ways you can build confidence and get on the right track: <a href=\"http:\/\/cmxhub.com\/the-cmx-community-strategy-canvas\/\">Create a business case document<\/a> your team can turn to, align community with your core values, and read up on best practices with resources from industry leaders.<\/p>\n\n\n\n<h2  id=\"5-measure-retention\"class=\"wp-block-heading\">5. <strong>Measure retention<\/strong><\/h2>\n\n\n\n<p>If you\u2019re not sure where to start measuring your community\u2019s value, start with customer retention. It\u2019s the most popular metric that companies use to measure community success. Choosing the wrong metric can be disastrous, but retention is flexible, and always going to be a good benchmark.<\/p>\n\n\n\n<h2  id=\"6-hire-a-community-manager\"class=\"wp-block-heading\"><strong>6. Hire a community manager<\/strong><\/h2>\n\n\n\n<p>71 percent of communities have a dedicated community manager. For startups, it\u2019s 78 percent and for tech<em> <\/em>startups, that number dramatically increases to 88 percent. Dedicate someone to owning and growing your community. It will pay off down the road because it satisfies one of the very most fundamental of human needs: the need to belong to something larger than ourselves.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>What do over 60 percent of startups valued at over $1 billion have in common? Community. They either employ a community team, or collaboration is fundamental to their business model. Think Airbnb, Lyft, Xiaomi, Pinterest, Dropbox, DocuSign, Instacart\u2014the list goes on. They all invest in community. Why? Because community is disruptive, and it\u2019s how many [&hellip;]<\/p>\n","protected":false},"author":1296,"featured_media":27688,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[43902,43908],"tags":[500,39218,39221],"class_list":["post-27684","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-professional-development","category-creativity-culture","tag-community","tag-small-businesses","tag-entrepreneurs"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.4 (Yoast SEO v25.3.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Want to build community? 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