4 Tactics to Measure the Success of Your Online Community With KPIs That Matter
Well, there’s no ‘one-size-fits-all’ approach to this as the niche of every online community can vary. So, the method you use to measure the success of your online community whether it is internal, partner, or customer will also differ.
However, irrespective of the community type, there are some key principles that you can opt to ace your KPI development. Your approach to measuring the success of your community should be in alignment with your organizational success. It should reflect the maturity of your community because as you grow, your community goals and how you define success will also change.
So, the question is – what is the right way to measure the success of your online community? Let’s find out!
Why is it Essential to Measure the Success of Your Online Community?
Customers should be at the center of your community strategy and community managers especially need to ensure they’re keeping a consistent pulse on how their community is helping their customers and if there are any gap areas that need to be worked on.
Every effort that you initiate, comes down to measuring what matters. Before you begin selecting impactful success metrics and collecting supporting data, it’s crucial to define what success looks like for you.
Is it to build brand equity, generate leads, or create brand advocates? That’s why the first step is to define what ‘success’ is for you.
Once you have an idea of what success will look like, check in with your stakeholders, and ensure that your priorities are aligned well.
The need to measure the success of your online community is key in ensuring you grow and scale your community. When you do this, you can identify if your online community truly delivers value and how your community strategies are working for you.
4 Tactics to Measure the Success of Your Online Community
As a community manager, remember to measure what matters the most. You must keep your KPIs simple by analyzing your organizational goals.
Here are four key tactics to measure the success of your online community:
- Focus on Member Engagement: When getting started on your community journey, your major focus might shift towards achieving growth. However, when looking at the long-term objectives, growing from 1 to 50 members should not be a priority. In the initial phases, your main focus should be on understanding your members’ needs by consistently engaging with them. Measuring and analyzing behavioral changes and catering to your members is what will lead you to growth and reap the desired ROI.
- Align Community Goals With Your Company Goals, not Vice Versa: Your organizational goals should be the foundation of your community goals. Adopting this approach will help you in moving ahead one step at a time. You will be able to experience the benefits of community growth in perfect alignment with your company goals. Ensure that you set SMART (Specific, Measurable, Attainable, Relevant, Timely) goals.
Pro-tip: While in the growth phases, keep a check if your community goals still align with your company goals and what value is being generated. After this, you can proceed to determine the metrics to track and measure community success.
- Analyze Community Goals and Measure Behavior: What is the rationale behind your community? Is it to create meaningful customer relationships that are nurtured with feedback? Or how your brand can boost brand loyalty and build better long-term relationships? Establish the main purpose of your community and then instill the member behavioral changes. Measure this change to understand the psychology of your community members and offer them products and services as per their needs.
- Illustrate Possibilities With Stories and Numbers: The best way to understand your indicators of performance early is to highlight how behaviors are changing. For instance, in your communities, get your stakeholders to think about the best measures for the organization, rather than what is easiest to measure. Tell stories with your numbers to extract actionable insights from your data and make key decisions quickly.
By identifying the most meaningful metrics for your community maturity, you will be able to invest your efforts in the right direction. Also, you will be able to curate strategies that are most likely to reap positive results.
Once you start measuring and quantifying your community activities, you must make changes to your community strategy in alignment with your company goals to witness positive growth. Managing your community without measuring any metrics will not reap you the desired results. So, ensure that you analyze and measure all the key metrics and keep the ROI coming.