I have added French and Spanish via Settings > Languages menu and added the "Language Selector" component on the page. However, when I try to change the language it doesn't seem to affect the content in custom components as well as "Rich Content Editors". Right now only the navigation item is translated.. Is there a way to translate all the text in all components?
Create page variations for your community page with content translated for users with Spanish language .
Other alternative is to have different component and choose component visibility based on language or the locale of the user .
The first approach is better if you plan to support lots of languages .
Second approach if you have only one language apart from English .