Community Chat Weekly is a newsletter about building and growing communities, featuring collected tweets, posts and thoughts from various community managers.
The Community Chat Virtual Summit is fast approaching! And by popular demand, we've rolled out a way to access the event completely free! We have an incredible speaker lineup of over 40 rock-star community builders, including Erica Kuhl, Former VP of Community at Salesforce, Bailey Richardson, Co-Author of Get Together, and Kat Manalac, Partner at YCombinator.
It's our 30th birthday! 🎂🎉
Oh, we meant 30 weeks – not 30 years. But when you're quarantining, sometimes the weeks can certainly start to feel like years! Missed any of our past issues? You can find the archive here.
Preet Singh, the Founder of the DesignX community posed a really unique question this past week and we wanted to share it here.
"Has anyone here gone through a valuation for their community, for the purpose of allocating equity or acquisition?"
Building a community is not an easy endeavor, and over the past few years we've seen a number of companies buy entire communities. From Stripe acquiring Indie Hackers, to Digital Ocean acquiring Scotch, or Outreach acquiring Sales Hacker.
Max Altschuler, Founder of Sales Hacker (one of biggest B2B salespeople communities) said that post acquisition:
"The first thing you want to do is change nothing. You need to maintain the trust you’ve built up over time as a standalone community not owned by a vendor. Our mantra was you wont see anything new that negatively affects the reader/listener/viewer/subscriber/member experience. Over time, you can start to evolve things but I’d wait at least 6 months."
How would your members respond? There are certainly a lot of implications to think through. What are your thoughts? Reply and let us know!
The strongest businesses of the future will be community-powered.
You are the communities you spend time in.
Add this one to your podcast backlog
Community is the next social wave 🌊
Community creates the ultimate form of customer loyalty.
A handful of recommended readings from the past week.
14 hacks to increase community engagement (4 min read)
Paras Pundir, who runs the largest community for community folks in India shares with us a whopping fourteen tactical examples of how you can better engage your community. This is one you'll want to read.
Everything you wanted to know about paid communities (4 min read)
Everything you ever wanted to know about Paid Communities, plus a few dozen examples. Ie. don’t use money as the only filter for your paid community – price is more than money, it’s time, risk, sacrifice. Or try having shared struggles in your on-boarding process – members will justify the struggle (price) to themselves (think fraternity initiation or military bootcamps).