Community managers and organizers are using platform vendors to project memberships. Often times these projections are wrong, but then people end up in contracts costing them a lot of money. When you pay someone else to be your vendor and they overestimate, you end up paying far more than necessary. To make a better projection you should start with your initial growth number, the web traffic that your company gets, your current audience size, and possibly paid promotions. Use this information to make your own projections.
Key Takeaways:
- For a business to rely on platform vendors to help them make membership projections is like walking to a shop and asking them what to buy.
- The platform vendors in their bid to help a business asking for help will lock them into a long term contract with double or more of the expenses.
- The actor figured out that one community that launched in the middle of last year are overpaying by around 400% because they are below the membership projections.
“We’ve found we can make more accurate membership projections from a few hard numbers and a lot more conservative benchmark conversion percentages.”
