Your panel size is the number that drives your revenue, your workload and your hiring plans. Track three numbers every month: members who joined, members who left, and the net change. Read them next to your P&L.
Three numbers each month
- New members: by source, if you can. Tracking sources.
- Lost members: cancellations and non-payment. How to measure churn.
- Net change and ending panel size.
Add two more when you're ready
- Revenue per member. What revenue per member tells you.
- New contacts and conversion rate. Tracking conversion.
Read the trend, not one month
In a made-up example, the panel grows by 12, 8, 15, 4, 10 and 9 over six months. The 4 stands out. That was the month leads waited three days for a reply. A single month means little. Three months in a row means something.
Compare with your plan
If you set a goal for the year, compare the running total each month. Setting yearly money goals. Watch the panel against your capacity, too. Do you have to keep growing?
Match it to your books
Membership revenue in your P&L should move with your panel. If the panel grows and revenue doesn't, look at failed payments, discounts or billing errors. Why your membership report may not match your bank.
What I'd do this week
- Pull new and lost members for each of the last six months.
- Put the three numbers in a simple table.
- Read them next to last month's P&L.
Common questions
Where do I get the numbers?
Your membership platform. Ask your bookkeeper to check them against revenue.
Should I count families as one member?
Count people for panel size and households for some reports. Be consistent.
How often should I review?
Monthly, with your financials.
Want panel numbers next to your P&L every month?
We reconcile every account every month and send your P&L and Balance Sheet by the 15th, so you can see what each new member is worth and what it cost to get them. If that's what you need, apply to work with us.