In the 2022 Community Industry Trends Report, 38% of respondents said their top frustration in building community is that “it’s hard to quantify the value of the community.” And while that number has gone down since previous years (45% in 2021), it’s clear that community professionals are still struggling to prove the value and the ROI of their community programs.
And so, for the first time ever, I’m thrilled to introduce March Metrics Madness, an entire month dedicated to helping community professionals quantify the value of their community.
Where to Start
Every community is different – different goals, values, members, and managers – and that is why there is no one answer to the question “what metrics should I track?” But have no fear! The road to get to your metrics has been paved by CMX with frameworks, resources, guides, and acronyms. We’ve ensured the ride will be smooth.
We’ve compiled all of our tried and true, and most favourite frameworks into this one, very handy guide: The CMX Guide to Building a Community! Using our most popular frameworks, we help you build a strategy and launch your own sustainable brand community from scratch. We’ll start with defining member value and then dive into the business, community, and tactical strategies you can use to build a thriving community.
The first framework you’ll need in your tool belt is the CMX SPACES Model! This model breaks down the 6 most common business goals a community can impact. Your first step in proving the ROI of your community is to choose a letter from the SPACES model, as your north star.
Next, take a look at the Three Level Business Strategy Framework. This framework breaks down the process into three levels: Business level strategy, Community level strategy, and Tactical level strategy. As a community manager, you need to always think about how you are going to prove the value of the work you are doing. And each strategy level will come with its own set of metrics and reports.
And always remember, when choosing metrics to measure in your community, make sure of three things; 1) It is a priority to your business and teammates, 2) Your members will be motivated to contribute to it, and 3) You can measure it!
Now that you know what kind of metrics you want to measure, here are some resources to help you figure out how to measure those metrics.
Read about metrics on the CMX Blog:
- The SPACES Model: The Framework for Defining Your Community’s Business Value
- What to Measure and Why: How to Track Community Engagement
- The Simple 3-Step Model for Measuring Community
- Build a Community Measurement Strategy You Can Be Proud Of
- Measure the Value of Contribution, Not the Value of Community
- Community Metrics: Lessons From Udemy, Moz, and Salesforce
- How to Measure and Report on Community Value
- How to Use NPS in Your Community
Check out these CMX Summit sessions all about metrics:
- Lauren Perkins: Choosing Metrics and Proving ROI of Community Strategy
- Jessica Malnik: Why Your Support Community Metrics May Be Wrong
- How to Repurpose a Common Business Metric for Your Community Success | Mary Thengvall
- Developer Relations KPIs [Workshop] | Tessa Mero
- Getting Buy In for Your Community and Backing It Up | Ashley Elder
- Measuring the Success of your Community | Jenna Meister
- CMX Masterclass: How to Balance Community Growth vs. Engagement
- Turning Community Data Into Powerful Insights: How To Decide What To Prioritise | Richard Millington
Event Recordings from March Metrics Madness
Watch every event from March Metrics Madness here!
Take an inside look into the 2022 Community Industry Report. The CMX Community Industry Report is an annually recurring, flagship report on the impact and value of the community industry. At this event we reviewed current community trends and hosted a real-time AMA with David Spinks.
Our research takes a high-level, comprehensive view of the industry thanks to input from CMX, the largest community for community professionals. The 2022 Community Industry Report is a snapshot of the biggest changes year-over-year, and an invaluable resource for community professionals. The report features key insights into trends and best practices in the community industry including:
- Community engagement benchmarks for forums and events
- Best practices from successful communities
- Community team sizes and structures
- The biggest opportunities and frustrations for community professionals
- DEI in community programs
- Community professional salaries and career paths
- The future of community, events, and web3
- Lots more…
India Virtual Chapter: Are you measuring the RIGHT Community metrics?
We at CMX India thought we could help you a bit by bringing together two entrepreneurs who think Community is the key to their business and thus, community means business to them! Hear from Naiyya Saggi, Co-Founder, The Good Glam Group and Nipun Goyal, Founder and CEO, LikeMinds. Both of them have built strong communities tied to business purposes and continue to do so.
The India Virtual Chapter is hosted by Neha Agarwal, Manohar Kabeer, and Ritu Mittal Mukherjee.
Colombia Virtual Chapter: Metas, KPIs, y otros demonios de comunidades
¡Se habla español! Bienvenidos todos los gestores de comunidades de Latinoamérica. Hablemos sobre métricas y cómo sobrevivir a ellas. Conversemos, intercambiemos puntos de vista y tomemos lo mejor para aplicarlo en nuestras Comunidades.
The Colombia Virtual Chapter is hosted by Juan Diego Castano and Alexander Parrales Arango
Chapter and UG Programs Chapter: Finding Your North Star Metric
Have you ever felt that as a community manager, you measure everything but have yet to illustrate the value of community clearly? Are you seeking to develop a dashboard for measuring and monitoring community health but don’t know where to start?
In this interactive workshop, Ashely Collins, a Product Manager at Bevy will introduce the North Star Framework as a methodology for identifying your community’s north star metrics and supporting input metrics. We’ll explore how a tailored measurement strategy can help you demonstrate the impact community has had on your business.
The Chapter and UG Programs Chapter is hosted by Tali Vasilevsky and Eli van der Giessen
Vienna, Austria Chapter: How to engage your tribe with virtual events
Virtual events are a powerful tool to engage and inspire your community. Unfortunately, with all the platforms, formats, and concepts, hosting a professional virtual event still remains a confusing challenge.
In this session, Juan breaks down the process of planning, preparing, and producing a professional virtual event, the most common pitfalls to watch out for in the process, and how the content, more than tech, will make all the difference.
The Vienna Austria Chapter is hosted by Lia Mladenova
Denver, USA Chapter: How to Track Slam Dunk Metrics and Prove Community ROI
It’s March Metrics Madness and CMX Denver is celebrating with a virtual roundtable all about tracking slam dunk metrics that prove ROI 🏀 During this event, attendees are invited to draw on their experiences to collaborate in real-time about wins and struggles when it comes to metrics. Two lucky attendees will walk away with CMX swag bags! No bracket required 🙌
We covered a few key topics including:
- Tools and processes used to track metrics 📈
- Knowing when to stop tracking a metric 🛑
- Utilizing metrics to prove community ROI 💪
The Denver USA Chapter is hosted by Cassie Perez and Lori Goldman
Lagos, Nigeria Chapter: Data Network Analysis : What to know
How do you accurately measure metrics and use them to improve future projects? join us to learn how to use Network analytics which involves the analysis of network data and statistics to identify trends and patterns.
The Lagos Nigeria Chapter is hosted by Alimi Eyitayo
Los Angeles, USA and Istanbul Virtual Chapter Collaboration event: The Measurement No One is Talking About: Qualitative
CMX Connect Istanbul & CMX Connect Los Angeles are proud to present their new cross-chapter event about qualitative metrics and measurements – Join us for a fun and informative session featuring Jenny Weigle and Chris Catania, co-hosts of CMX Connect Los Angeles, as speakers sharing tips and tricks in measuring qualitative metrics with the venerable co-hosts of CMX Connect Istanbul!
The Istanbul Virtual Chapter is hosted by Ilker Akansel, Esra Kadah, Özge Aydin, and Gül Ceren Tunay
The Los Angeles USA Chapter is hosted by Jenny Weigle and Chris Catania
CMX HQ Masterclass: March Metrics Madness with Khoros
We hosted a partner event with Khoros for the ultimate Metrics Masterclass! We learned what really matters when measuring the success of a community. Jake Roadhouse, Business Value Director at Khoros, took the audience through:
- What to you need to measure
- What you need to maintain to prove ROI
- How to present to your internal teams for continued ‘buy-in’ from your organization
- And more!
Thank you to our partner Khoros, for making this event possible!
Join the CMX Community!
The learning never ends at CMX, join the CMX Community and connect with thousands of other community professionals around the world.