Should You Invest in Community?
Timestamps are as accurate as they can be but may be slightly off. We encourage you to listen to the full context.
Podcast Summary
This episode features Dave Gerhardt, founder of Exit Five, discussing his journey from CMO to community builder and the explosive growth of his B2B marketing community. Dave shares how Exit Five grew nearly 80% by operating more like a startup than a traditional Slack group, treating their community as a core product rather than a side project. (05:38) The conversation covers the reality of building successful communities, why most companies shouldn't launch one, and the challenges of measuring brand impact without losing your mind. (34:23) Throughout the discussion, Dave provides candid insights on the current state of AI in marketing, revealing that the technology has everyone "simultaneously energized and spiraling" as professionals grapple with existential questions about the future of their roles.
Speakers
Dave Gerhardt
Dave is the founder of Exit Five, the top community for B2B marketing professionals with over 6,500 members. Prior to founding Exit Five, he served as VP of Marketing and Chief Brand Officer at Drift, helping the company achieve a billion-dollar exit, and later as CMO at Privy, leading it to a $100+ million exit. Dave is also the author of "Founder Brand" and a frequent podcast guest and speaker in the B2B marketing space.
Ali Orlando Wert
Ali is the Director of Content Marketing & Brand at Databox and host of the "Move the Needle" podcast. She focuses on business intelligence content marketing and interviewing thought leaders in the B2B marketing space.
Key Takeaways
Treat Community as a Product, Not a Side Project
Dave emphasizes the critical shift from treating community as an afterthought to approaching it with product-level rigor. (03:36) Exit Five's transformation began when Dave hired dedicated team members, established a roadmap, implemented NPS surveys, and created structured feedback loops. This approach includes having a community manager serve as product owner, setting measurable goals, and conducting regular community meetings to review metrics and performance. The lesson here is that successful communities require the same strategic thinking, resource allocation, and systematic approach as any other product in your business portfolio.
Focus on Shared Interests Beyond Your Product
Rather than centering community discussions around product features, successful community building requires identifying the broader challenges and interests your audience faces. (09:03) Dave explains that business intelligence professionals at Databox don't want to constantly discuss Databox features—they want to connect over industry challenges, career growth, and shared experiences in their field. This approach transforms your brand from a vendor into a valuable resource and connector, ultimately building the trust and affinity that leads to future purchase decisions when the timing is right.
Most Companies Shouldn't Launch Communities
Dave delivers a counterintuitive truth: despite running a successful community business, he believes most companies shouldn't launch their own communities. (12:46) His reasoning is that communities typically devolve into spam and noise without proper stewardship, often managed by inexperienced team members who treat it as a broadcasting channel rather than a genuine gathering place. Instead, companies should focus on the broader definition of community—stewarding conversations, creating valuable content, and connecting people around shared interests before considering a dedicated platform.
People Will Tell You How Marketing Is Working
When it comes to measuring the ROI of community and brand-building activities, Dave advocates for a surprisingly simple approach: asking people directly. (15:56) He shares examples from Drift where sales reps regularly reported prospects mentioning their podcast as an influence in the buying process. This direct feedback, combined with metrics like direct website traffic and qualitative social media engagement, provides more meaningful insights than trying to perfectly attribute every touchpoint. The key is educating internal stakeholders on how modern B2B buying actually works—through multiple touchpoints, peer influence, and brand awareness over time.
AI Creates Existential Questions, Not Just Tool Opportunities
While much of the AI discussion in marketing focuses on specific tools and tactics, Dave observes that the real impact is causing professionals to fundamentally question the future of marketing roles. (29:49) He describes conversations with CMOs managing 70-person teams who are being pressured by boards to justify their entire marketing organization in light of AI capabilities. The challenge isn't just learning new tools—it's reimagining what marketing teams will look like and what unique value human marketers will provide in an AI-augmented world.
Statistics & Facts
- Exit Five has grown to over 6,500 members in their paid community, representing significant scale in the B2B marketing space. (14:22)
- Dave mentions that during the first two weeks of July when this was recorded, approximately 50% of Exit Five's website traffic came from advertising, showing the mixed nature of their traffic sources. (26:21)
- At Drift, Dave estimates that 75% of their first million dollars in revenue involved prospects who mentioned listening to their "Seeking Wisdom" podcast during sales calls. (16:45)
