333 - KPIs Every Membership Owner Should Be Tracking

Every successful membership site owner knows their numbers. If you don’t know how your business is performing in key areas, then you have no basis for growth and making improvements, or any idea of whether or not your membership site is doing well or if it’s in trouble. Worryingly, our Online Membership Industry Report revealed that 14% of membership site owners aren't tracking their KPIs (Key Performance Indicators) at all. And an even greater number only track a few key metrics! This is something that needs to change. So if you're currently not tracking metrics on your site or are measuring some, but are not sure if they're the ones you should be focusing on, then this episode of The Membership Guys podcast is for you. Join us as we explore KPIs that every membership website should be tracking. Essential Learning Points: Different metrics to focus on for analyzing website traffic and activity Why you need to have an in-depth understanding of your conversion rates How your churn rate impacts member retention and why you should aim for 5% to 10% Why it’s crucial to measure the percentage of trial participants who become paid members How to measure the lifetime value of your members Recommended tools for reporting on member engagement Why you should track customer acquisition cost