Great question! Luckily, with your Mighty Network you’ll have access to Mighty Insights™.
It’s full of data that you can use to pinpoint exactly what’s working, opportunities to improve, and to benchmark yourself against other communities.
But with so much data available, it may be tough knowing where to start. To help you out, let’s focus on three metrics you can use to dig into your Mighty Network’s success.
These metrics are based on benchmark data from the tens of thousands of entrepreneurs, creators, and brands using Mighty Networks today.
We’ll go over what these metrics are, why they’re powerful, and how to impact them.
For a deep dive into Mighty Insights™, click here.
Active Member Growth - MAM, WAM, and DAM
Active Members are a simple measure of your Mighty Network’s growth. We recommend you monitor this number to track your community’s overall health and diagnose dips or spikes as they happen.
You can track your Daily Active Members (DAM), Weekly Active Members (WAM), and Monthly Active Members (MAM).
To track Active Members, go to the Overview dashboard of your Mighty Insights™ and find the Active Members chart at the top-left.
From there, you can see how your Active Members have changed for each of the past 28 days. You can also click any of the three labels at the bottom of the chart to hide them.
Stickiness - WAM/MAM and DAM/MAM Ratios
It’s easy enough to track total active members. But the secret to sustainable growth overtime is how often members return. Luckily, there’s a way to measure your retention, or how “sticky” your members are.
This is done by looking at the ratio of WAM to MAM, and then DAM to MAM.
Let’s define both ratios.
DAM/MAM: These are members who visit your Mighty Network at least once in a given day divided by members who visit your Mighty Network within a 30-day period.
WAM/MAM: These are members who visit your Mighty Network at least once within seven days divided by members who visit your Mighty Network within a 30-day period.
This tells you if members are making your Mighty Network a daily or weekly habit—which is the goal!
These metrics give you a complete picture of how healthy your retention is, and whether new members are building habits around your community.
You can find your DAM/MAM and WAM/MAM ratios in your Overview Dashboard, right next to Active Members. You can hide either ratio by clicking the labels at the bottom of the chart
You can also easily compare both DAM/MAM and WAM/MAM to benchmarks we’ve observed in our internal data on successful communities.
Active Members are good. Contributing Members are awesome. They are the reason members come back, so understanding them is essential. Use this metric to track the percentage of members who make your community more valuable by contributing and interacting with other members.
Your goal is a self-sustaining community where more members contribute, spark discussions, and make new valuable connections with other members.
You can track Contributing Members by going to the Members dashboard of Mighty Insights™, and finding the Contributing Members chart at the top-right. From there, you’ll see your Active Members, Contributing Members, and the Contributing Members %.
Successful Mighty Networks are less about consuming content, and more about encouraging contributions. As you track Contributing Members, make sure you’re always looking for ways to encourage your members to get involved.
Bonus: Active Member Heatmap
Your Mighty Network is packed with ways to help you reach your members on your own terms, thanks to features like Message All Members and Notify All Members. But when should you use these tools for the biggest impact?
That’s where the Active Member Heatmap comes in. This chart shows you when your members were most active during the past two years.
To find it, go to the Overview dashboard, and scroll down until you find the Active Member Heatmap. From there, you can mouse over any square to see the exact number of members who were active that day.
Right above the Heatmap, you’ll see Active Members by Hour, which will show the average number of active members during a specific hour of the day.
You can use these charts together to time your most important posts or events when the most members are already active.
Beyond these powerful metrics, Mighty Insights™ empowers you with a goldmine of concrete data you can use to inform experiences, uncover new courses to offer, and understand which content sparks the most engagement.
To dive deeper into how to use Mighty Insights™ to measure success, download the Mighty Networks Guide to Metrics for Member Engagement & Retention.
For more on how to make Mighty Insights™ a consistent habit, check out this article.
Updated August 2022