Is your membership community doing well? How do you know? The not so simple answer is “metrics.” The not so simple part is because there are an infinite number of data points that you can analyze. Sound overwhelming? Fret not. In my previous post I shared five tips to avoid ruining your membership community, and today I’ll reveal the most important metric every community owner needs to know and measure to ensure the success of their community.
Community professionals understand this world well. A big part of our role is to know which metrics are critical to the health of our communities and which ones are irrelevant. Yelp, for instance, will care a lot about user generated content (UGC) in the form of reviews, while a brand like Peloton will be more focused on membership retention and churn (percentage of cancellations).
Those are obviously big companies with lots of resources.