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Unlocking The Secrets of Top-Performing Communities: 3 Insights From The 2024 Community Benchmark Report
If you’re trying to build a successful online community, you need to understand what it takes to get from a pretty good community to a great one. The problem is there’s not a lot of great information or metrics out there for creators to measure up against. That’s why Circle.so put together the 2024 Community Benchmark Report — it promised answers and didn’t disappoint.
Compiled from a mix of Circle’s product data, surveys, and interviews, the report offers a rare glimpse into the practices of the most successful community builders—dubbed the “Platinum” creators.
Here’s a deep dive into the findings and my take on what this means for the future of community building.
Table of Contents
1. Acquisition and Onboarding: A Strategic Approach
Interestingly, Platinum creators often spend little to no money on new member acquisition, instead opting for a diverse array of channels like social media, email, and YouTube to grow their communities organically.
This approach not only saves costs but also attracts members who are more aligned with the community’s values and interests.
The onboarding process is another area where Platinum creators shine, implementing best practices to welcome new members effectively.
This includes comprehensive tours, clear community guidelines, and engaging conversation starters, all of which help new members feel at home twice as fast as in standard communities.
What makes the approach of Platinum creators particularly interesting to me is the emphasis on organic growth and meaningful engagement over just chasing numbers.
By leveraging a variety of channels, they’re able to cultivate communities that are large and also deeply connected and invested in the community’s success.
This strategy is cost-effective, sparing unnecessary expenditure on member acquisition, and also ensures that the community is built on a solid foundation of shared values and interests which keeps members around for longer.
In my experience, this deep level of understanding fosters a sense of belonging and community that no amount of marketing spend can replicate. It’s about creating a space where members feel seen, heard, and valued—a goal that’s both simple in concept and complex in execution.
2. Events and Engagement: The Heartbeat of Platinum Communities
Events are the lifeblood of Platinum communities, with 100% of Platinum creators hosting them regularly.
From group discussions to Q&A sessions, these events are tailored to member preferences, ensuring high attendance and engagement rates.
Platinum creators are also great at getting people to actually show up to their events. The report found that 59% of Platinum creators said their events see more than 50% attendance vs. 33% of standard creators.
The fact that every single Platinum community is big on events really tells you something about how crucial they are to keeping things lively and connected.
From my own journey through the world of community building, I’ve seen just how game-changing regular, engaging events can be. They’re incredibly effective at keeping a community not just alive, but thriving.
What’s really smart about how these top creators do it is how they tailor events to what their members actually want. They have their finger on the community’s pulse, setting up everything from deep-dive group discussions to those super helpful Q&A sessions. This isn’t just about getting members to show up, it’s about creating moments that matter, that stick with people long after the event is over.
3. Retention and Monetization: Prioritizing Long-term Success
For Platinum creators, keeping members active and engaged is rated as a top priority. Too many creators don’t give retention the attention it deserves.
From what I’ve seen, making sure your community members feel like they’re part of something special is what really sets the great communities apart from the rest.
And then there’s the whole money side of things. Most of these top-tier communities aren’t giving everything away for free. They’re either charging an entry fee or bundling community access with other stuff they’re selling.
According to the report, 93% of Platinum communities require a purchase to join.
Final Thoughts
Are you ready to take your online community to the next level? Want to get access to the exact strategies top creators are using to crush it with their communities?