It’s up for debate, but we believe it’s preferable to have a smaller web3 community with a high level of engagement, rather than thousands of members with a low one.
Web3 communities with thousands of members but no discussion are merely a vanity metric, and worse, they put out the idea that the project is dead.
As a result, in order to measure your web3 community, your KPIs (key performance indicators) must be aligned with your goals.
Metrics to consider when launching
When you're just starting out, you will need to closely monitor some operational metrics.
At this stage, every new member joining your server or channel will feel like a victory.
More than the metrics themselves, understanding where the members came from, why they are joining, and measuring the impact they have on the project are the extremely relevant insights to have early on.
It’s also important to track the number of posts and engagements, which include comments, reactions, and determining whether or not a topic has evolved into a productive debate.
As the community grows, you will face the challenge of maintaining high levels of engagement, so now is the time to measure the health of your base. In other words, keep an eye on the ratio of active and contributing members to total membership. It's known as the "vibrancy metric."
Observing the maturity
Tangible goals are really put to the test at this point in the analytics because you need to know if you've met your primary goals now more than ever.
When your web3 community is becoming mature, after solid growth, you should be prepared for a drop in numbers. So, never take your gaze away from your engagement.
Also, be aware that mature communities reward brand advocates. You can look for ambassadors on social media platforms like Twitter and find those who would help you as a community manager by rewarding them with exclusive content or even starting a brand ambassador program (we cover ambassador programs later in this article).
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