In this episode of the Community Strategy Podcast, David Siegel is the CEO of Meetup. Meetup is the largest platform for finding and building a local community. He has over 20 years of experience as a technology and digital media executive. He leads organizations through innovative product development. He drives rapid revenue growth and accelerates digital traffic.
Before joining Meetup, David was CEO of Investopedia and, before that, President of Seeking Alpha. David holds a BA in Philosophy, Politics & Economics and an MBA from the University of Pennsylvania. He is an adjunct professor at Columbia University, teaching strategic planning and entrepreneurship.
He hosts the podcast Keep Connected, which is dedicated to the power of community. David’s book, Decide & Conquer (Harper Collins), lays out a framework for decision-making. Leaders can use this framework to ensure organizational success. It also helps in achieving personal success.
Show Notes
2:54 Meetup offers people a way to connect with others. The company’s mission is to help reduce the loneliness epidemic. They focus on the most vulnerable between their late teens and mid-20s. Meetup has over 60 million users in 200 countries, and there are more than 260,000 Meetup communities worldwide. The goal is for people to be their authentic selves. The mission is to help conquer loneliness. It offers different ways to engage with others in all kinds of ways.
3:43 David shares his background in community, which stems from his childhood growing up in an orthodox Jewish family. He also experienced loneliness himself in different phases of his adult life.
5:40 The story behind Meetup stems from the 9/11 attacks. During this time, people were experiencing fear. They started to meet their neighbors and bonded with each other during a challenging time. David mentioned Scott Heiferman, the founder of Meetup. He was one such person who said that “It shouldn’t take a tragedy for us to build community.”
9:35 David shares why he wrote the book: Decide & Conquer. He wanted to give insights. He also shares his interview process to become the CEO at Meetup. The project became a book. A colleague introduced him to a publisher. He sent his manuscript, which got published. He wrote it in a few months.
14:40 David recommends that new community builders be speedy in decision-making. So many leaders want to do the “right thing,” and they want to make the world a better place. They want to do their best, but they have a “perfection” mindset. David gives advice on being capable of trying and adapt to the experience as it plays out.
21:31 Meetup is the technology to get people off of technology. Still, that strategy became challenging during the COVID-19 Pandemic’s early experiences. David shares what the company did to shift from meeting in person to online. Since then, they are still 80 percent in-person and 40 percent online.
28:59 David shares the turnaround Meetup made. They shifted from losing 18 million pre-pandemic to flipping it into a profitable business model. Now, they are making 3 million. It’s more than the money; it’s about building a sustainable business.
30:06 Meetup announced changes to support the need for profitability by eliminating irresponsible money-burning practices, including parties, lunches, and dinners. He learned from Zappos that all the hired people love being there. They are there for the right reasons.
36:22 David shares tips for new community builders. These tips help them build community in their businesses. They are important when they focus on growth and development. Community is also the best way to drive users to your brand. You can use a community to gain feedback about your product or service.
46:20 Community is a powerful tool that leads to transformation. The value of community is still being determined, and the job of a community builder is challenging. Meetup wants to flip the model that community builders can donate to support the organizers. Make it easier for people to join your community, and it will thrive.
