In recent years, virtual communities have thrived, often established and nurtured by companies to support specific business goals. Online community management software is used by customer-centric businesses to create shared purposes and hold people together. A virtual community is a group of people who share a common interest or goal and use the internet for digital communication networks. While virtual communities share some similarities with social media platforms, there are extensive differences regarding experience, strategy, and behavior. Virtual communities offer a culture of sharing and authentic exchanges instead of individualistic experiences. More people are moving away from social networks due to privacy concerns, ad fatigue, and the propagation of fake news and hate speech. Private communities create deeper relationships and engagement in a safe space, making them valuable for companies to increase customer lifetime value. Authentic feedback and conversations in virtual communities can help companies understand their customers better and address their needs. By engaging customers on a human level through virtual communities, companies can cultivate brand advocates and encourage word-of-mouth referrals, resulting in lower customer acquisition costs. A virtual community can also be used to expand the global reach of a company. Building a successful virtual community requires aligning the community with business needs, creating a mission statement, and setting up a community onboarding process. A mission statement is integral to your community’s strategy because it defines the purpose and goals your community is committed to achieving. A community’s onboarding process plays an essential role in member engagement and retention, integrating and exciting new members, inspiring them to actively participate in your community, and solidifying your relationship with them.