Measuring The Success Of Your Membership Site Takes More Than Just Counting The Smiley Emojis Your Members Use In Communications Within Your Site
Serious number crunching is unavoidable if you really want to know how well your membership site is performing. The question to ask is: Are you earning enough and keeping members happy viably?
With membership sites, it’s easy to see success as the number of people who join – but if you don’t compare this with how many people leave you, your ship may soon sink. Similarly, it’s easy to look at your overall turnover, and not see that your costs are too high and your actual profit is close to nothing.
Many membership site owners get so close to the nitty-gritties of acquiring and keeping members, and creating content at speed, that they forget to look at the macro picture of their businesses and their profitability and sustainability.
At Solohacks Academy, we believe in measuring ten indicators of true success, and we rely on these, because numbers don’t give us false illusions of growth. We also set apart review time once every quarter to plan how to improve on the numbers we see.