In your Steady dashboard, you will find three sections filled with data on your Steady project.
In this article, we explore Analytics, where you can learn more about your earnings.
You may also like to read more about the other sections, in separate articles linked below:
Inside the Analytics section of the backend, which you can find on the left-hand side of the page, you will find your key data at the top of the page. This covers:
The most important number: your monthly revenue, along with how much your turnover has changed compared to the previous 30 days, as a percentage.
Number of members
Number of newsletter subscribers
In the example below, the project earns 1110 euros per month, with an increase of 0.7% over the past month. They have 46 members (a 4.5% jump over the previous month) and 6 subscribers.
Below that, a graph appears that shows your revenue development over the past 12 months. If you move your mouse over a bar, more detailed information about the respective month will be displayed.
The graph shows revenue split into 3 types of members:
New members: a member will be counted as new on first day/month/year that their membership started, depending on what you select as your graph time period e.g. If you select "last 12 months", as shown in the example above, a member that joined in November would show as a new member there, then a recurring member in December, and a lost member in November the following year, if they cancelled their membership after one year
Lost members: a member will be counted as lost on the day/month/year that their membership ended
Recurring members: this includes all members from the previous period that were carried over to the current period
You can also filter your revenue data by type, select a specific time period, or download your data as a CSV file.
Please note that revenue sums shown here are not equal to your payout, as taxes and fees will need to be deducted. Payout figures can be found in the monthly statement you receive via email – you can also download them in the Payouts section.
Below the section with your monthly revenue, you will find information on changes to your member figures over time.
The graph shows 3 types of members: new, recurring and lost (see descriptions above).
In this box you will find more information about two time periods: your current status in real time, and your data over the last 30 days, covering different membership states:
Trial members who have 30 days to test a membership
Active paying members
Guest members who have been invited by a friend, and
Expiring members, whose memberships are set to end within the next 30 days
There are also two important rates you will want to keep an eye on if you’re set on growing your membership base:
Churn refers to how many members you lose each month.
You can find this information under the Latest News section. It refers to the previous 30 days and is given as a percentage in relation to your total revenue.
It is quite normal to lose members from time to time. An average Steady project has 2-3% churn per month. At the same time, you will gain new members and may even be able to win back churned members at some point.
Keep a close eye on this rate and monitor changes: If you experience unusually high churn, you can think about what caused it. Often this happens about a year after the start of your membership programme, because that's when many annual memberships will expire. What's equally important is working on strengthening your community to reduce churn.
Conversion is when you gain a new member, i.e. when this person "converts" from non-member to member.
Pay close attention to your conversion rate in two specific groups: among your newsletter subscribers and among trial members:
If you open Newsletter Subscribers, you will see how many newsletter subscribers have converted to paying members in the previous 30 days.
In the Latest News section, you can see how many trial members have converted to paying members.
Ideally, you will keep up your conversion rates or even better, increase them. This is how you gain new revenue.
There are several ways to convert subscribers into members, but here are a couple quick suggestions:
The simplest, most efficient method is to always mention your membership programme – at least at the beginning and the end of every newsletter you send out, but every now and then also in an extra newsletter and some social media posts.
Shortly before the end of the trial month, you could send a personal email to any guest and trial members inviting them to support your project.
If you offer monthly and annual plans, a pie chart will appear at the bottom right of your Analytics page, showing you the percentage of monthly and annual memberships sold. You can choose to display this information for either the number of members or for sales volume.
Additional information about new subscribers and unsubscribes, as well as subscribers who have converted to members, can be found in this graph.