5 Important Metrics To Track For Your Membership or Group Program
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If you run a membership site, community, or group coaching program, it’s important to keep track of key metrics to understand the health and growth of your business. I’m sharing 5 metrics you should be tracking regularly. Monitoring these numbers will give you insights on how to improve your program over time.
Email List Growth
Growing your email subscriber list is critical, since it gives you a way to market to prospective new members. Look at how many new subscribers you’re acquiring each week or month. Ideal list growth varies by industry, but aim for a steady rate of expansion. Use lead magnets like free downloads, webinars, and resources to encourage sign-ups. Some of my favorite tools for generating new email subscribers are Convertkit and Convertbox.
Lead Growth
Getting more leads at the top of your funnel is key. Track leads from membership paid or free trials, booked calls, webinar sign-ups, DMs, and any other conversion actions on your site. Having a strong lead growth strategy is important. Analyze which sources or launch events like webinars, workshops, or private podcasts, generate the most leads to double down on those strategies.
New Enrollments
The lifeblood of any membership program or group program is new members! Look at how many people enroll each day, week, or month. Segment this by membership level if you have multiple options. You can do this via email marketing tags. Track both gross and net new members – factoring in cancellations (which is a separate important number to track). Healthy enrollment growth is a top priority.
Recurring Revenue
For subscription programs, the key metric to watch is recurring revenue. This shows the total predictable income coming from monthly/annual subscriptions. Look at both MRR (monthly recurring revenue) and ARR (annualized recurring revenue). Growing recurring revenue means your business is scaling successfully.
Retention Rate
Member retention is just as important as new sign-ups. Calculate your retention rate by looking at the percentage of members that renew their subscriptions over time. Offer additional incentives for existing members to buy-in to founding member pricing, features, or support. You can aslo offer additional related services or features that are only available in a higher priced tier.
Conclusion
Analyzing these five metrics regularly (and setting goals) will position your membership business for sustainable long-term success. Let me know if you have any other metrics you track! Check out my Recurring Revenue Planner to help you plan, track, and reach your membership or group program growth goals and see how your marketing efforts are working!
