The tech industry is said to be in a recession as bad as or worse than the one in 2008.
Public SaaS multiples are severely compressed in 2022. (Approx. 1/4 from historical high)
I strongly believe that it is important to invest in the user community in the current downturn because...
(i)Market changes, your customers don't.
Impossible to predict the future now. We don't even know what 2023 has to offer.
The only clear thing is there are existing customers in front of you.
Pay attention to the community of existing customers to effectively increase revenue.
(ii)Community touch is essential to scale customer success.
The scalability of customer success is a key growth driver in a downturn, and the community plays an important role to scale customer success and maximize revenue.
(iii)A community becomes a competitive advantage when the sun is up.
The market will recover from the current downturn someday. Community is not about how much money you spend. It's rather how much time spent and how much care you dedicated. It's the best investment you can bet on in a downturn.
Let me know your thoughts!
(details in the blog post below)
https://medium.com/@YuyaTakadaEn...
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