Excerpt of a YouTube video (title: "Membership Revenue UNLOCKED—How VetHive Hit $500K") in which a founder/community lead describes VetHive's early growth and measurement practices: over 1,200 paying members (about 800 joined in month one), roughly $500,000 in first-year revenue, ongoing improvements to the payment/platform experience via Mighty (and Mighty Analytics), and high community engagement measured by a platform engagement score consistently above industry benchmarks — metrics they use to demonstrate value to sponsors and guide product updates.
Questions this video answers
Over 1,200 paying members.
About 800 members joined in the first month.
About $500,000 (nearly a half million dollars) in first-year revenue.
Mighty (Mighty Analytics).
Chapters
So, you know, we have over 1,200 paying members. About 800 of those joined in the first month. It was a really seamless experience being able to get all those people on at one time. And the, the payment process for them has been really seamless as well. They've also mighty. Has done a lot. It's constantly being updated and they really do, and I'm like, really do pay attention to what people are saying that they want. Obviously people have different needs and wants and they're going to be asking for different things and they're not going to do every single thing. But it's always considered, which is I think, a huge, a huge deal. And then a lot of the things that I see, people say I want this end up happening. So that's amazing. But in terms of payments, that process has become even more seamless because of the updates that they've been doing throughout, you know, the year that I've been part of this, I've seen improvements. Just, it started good and it just continues to improve. But as far as our member numbers being high and then the revenue that we needed to generate, you know, in the first year, we were able to generate about almost a half a million dollars in revenue, which is huge, you know, for a business that we're trying to, we're, we're making a big impact on, on the, on the lives of our members and we're able to as a business grow and, and add even more things from our end of things because of the revenue we're able to receive as part of that membership. And then another way that we measure success is through engagement because, you know, this is a communal experience. So we want people to be in there and engaged and we want the time that they're spending in there to be valuable. It's not just a matter of getting in and staring at your phone like nobody needs any more of that, but actually feeling like you're transforming into another space that you're, you're learning and you're growing and you're doing the things that you're there for. We look at the engagement, the mighty Analytics. Analytics has been great because we've been able to look at the Wham Dam score. That's been really nice, like snippet for us to be able to see like at a glance, like how engaged is our community and we're consistently far above like what they've set as the benchmark of the industry standard. I can't remember the exact numbers, but I can get that if it's helpful. But, but, yeah, I mean, it's, it's, it's well above that. And being able to say, like, you know, I can feel like my community is engaged, but being able to actually see the numbers reflect your community is engaged, you know, that. That's something, too, that we're able to pass on to sponsors, you know, to people that are interested in investing in our community to give them tangible numbers, because that's what they want to see. They don't want to hear the owner say, yeah, we have a really engaged community. They want to see numbers. So that's been really valuable.
