When Community Becomes Your Competitive Advantage

7. Open, objective, governance and evolution.

6. Healthy, diverse participation driven by good leadership.

Successful communities have seven key elements:

Human beings are fundamentally social animals. Behavioral economics and psychological research have taught us that we fundamentally crave a sense of connectedness, belonging, mission, and meaning, particularly when performing our work.

4. Clearly defined incentives and rewards.

If a company can transition from simply delivering a product to building a community, it can unlock extraordinary competitive advantages and both create and support a superior business model.

2. Simple, easily accessible value consumption.

1. A shared purpose and values.

Communities look different than they did 50—even 20—years ago. They are organized around businesses and brands and providing profound opportunities for companies around the world.