One of the most challenging parts of rolling out a new initiative is trying to measure success without any benchmarks. So, how can you measure success when you're launching a new Hub?
The Twenty-Percent Metric
A twenty-percent open rate and three-percent click-through rate is generally accepted as a good result by most marketers. It's certainly a good place to start when you're just getting started with your Member Hub. If you’ve been running your insight community for a while, you can use your existing community metrics to benchmark against.
Knowing exactly what type of behavior you want to drive will help set metrics that demonstrate actual success. Here are a few goals you could adopt as you get started.
Low Unsubscribe Rate
If you're starting out with a new initiative you'll shed the most subscribers with the first few missives, but that number should dramatically decrease overtime. If you're losing your audience in great numbers you'll want to rethink your content or frequency. Try splitting up your list to A/B test a few newsletters to see what your audience prefers.
By engaging your insight community members with content, not only are you giving them reasons to open your emails again if they’ve stopped; you’re also balancing out the give/take equilibrium by providing value back to them. As you increase your hub participation rates, your activity participation rates should follow suit.
If people are coming back week-after-week then it means you might be doing this Hub thing right after all. Dive in deeper to see what they are reading and which posts are getting the most likes and comments.
As long as your metrics are moving in the right direction consistently, and you're diligent about trying new tactics and tying them back to results then you're on the right track.
Remember to track your results against your Hub and community goals!