Investing in Community as a Company Strategy
There is no doubt that times are tough, especially in this post-COVID economic environment.
With uncertainty abound, this opens an opportunity for companies to double down on their efforts around creating an environment built on authentic relationships, trust, and more.
In this episode of Talk About Your Community, Todd Nilson of Clocktower Advisors speaks with Will Laco and Michael Davenport of Higher Logic about why companies should employ and invest in creating a community strategy.
About Will and Michael
As Vice President of Product, Strategy and Operations, Will Laco is responsible for defining and driving the product and go-to-market strategy for Higher Logic in the B2B and B2C markets. Michael Davenport is the Senior Solutions Architect, having spent over five years with Higher Logic.
Show Notes
4:30: Starting on Michael’s journey with Higher Logic, he explains what gets him excited is the unique diversity of backgrounds. While Will came into the company through the world of investing, he loves the mission of Higher Logic.
13:08: Todd asks about particular success stories. Michael answers that a big win is rolling out their new layout editor, allowing customers to scale how they grow their community. Will speaks to the development of the Thrive platform and also acquiring Vanilla.
16:13: Speaking to the volatile economic times, Will mentions the ability to scale engagement with their community and customer marketing as two reasons community can become a company strategy. The pandemic was an event that spurred digital community as a way to engage further. Michael speaks about the use of community to facilitate further conversations, creating content that lives longer through discussion.
24:15: Will explains that there is not usually a set path of growth due to varying needs of each company. The path of evolution tends to naturally come to light due to needs around support tickets, product development, etc.
33:05: When it comes to 2023, Michael says the reality is some companies are downsizing, but having a place where you can do one-to-many makes conversations more valuable. Will discusses to rolling out moderation services, someone who can check in on your community every day. All three also touch on growth and trends in the tech space.