Email marketing is part of every marketer’s bigger plan. So, how can you tell whether your email marketing is getting you results? By reporting and measuring your data.
But email marketing is very dynamic, so with so many metrics, where do you begin? To measure the success of your email marketing strategy and campaign, some key areas need to be tracked. With the right key metrics targeted, you will be able to understand the real impact of your email marketing campaigns and ask for more budget. In this guide curated by our experts, you will read further about the 8 key metrics:
Click-through rate:
A high click-through rate means you can connect with your audience through your email marketing campaign. A low click-through rate means you need to change your email marketing strategy to make it more relevant and engaging for your target audience.
Bounce rate:
Bounce rate refers to the percentage of visitors who visit the website or one page of the content and then leave the website. Tracking this along with other metrics helps to understand if the email campaign is giving the desired results or not.
Emails bounce for many reasons: the recipient is no longer using that email address, their inbox is full, or the recipient has blocked you. There are several ways to increase the bounce rate.
Conversion rate:
The conversion rate is the percentage of people who take the desired action. This is the most useful and straight-forward metric to track the success of your email marketing campaign. The desired action can be a sale being made, posting an inquiry, or a return visit.
It gives a clear idea of how much traffic is being converted into revenue and sales. The standard conversion rate varies based on industry, geographical region, goals, target audience, and time of day.
Forwarding rate
The forwarding rate or sharing rate refers to the percentage of people who have used the forward or share button to share the email. A high forward rate is highly useful as it helps you get in touch with new contacts and new territories.
To make your content more shareable, you need to add more value to each email that you send. You can add clear CTAs to prompt your audience to share the email with their peers. Create helpful and engaging content to raise your share rate.
Unsubscribe rate:
Unsubscribe means when a subscriber on the email list opts out of it. Naturally, you want to keep it very low. Sometimes a high unsubscribe rate can mean that either you are targeting the wrong audience or the content you are sending is not relevant to them.
A large number of unsubscribes will negatively affect your email deliverability. You can improve your unsubscribe rate by giving your subscribers more options, like when to receive a mail, how frequently to receive it, and asking for their feedback.
Open rate:
Open rate refers to the percentage of emails that are opened out of all the emails sent out during the campaign. Trigger emails have a higher open rate because they are prompted by user action. Open rate is an important metric to check how engaging the content is.
If you see the open rate dipping, strategize again on the frequency and quality of the subject line. Don’t send too many or too few emails. You want your audience to remember you, but don’t spam them. Although tracking this metric is a challenge, it’s mostly a close estimate.
ROI on email marketing
The ROI is the return you are getting in monetary terms on the money you have spent on the email marketing campaign. The higher the ROI, the better the campaign’s performance. In the end, a business wants to make money and not lose it.
The average ROI for email marketing is $36 for every $1 spent. Email marketing is one of the most ROI-intensive marketing strategies if implemented well. Invest in email marketing automation to get a higher ROI.
Rate of spam complaints
It states the percentage of receivers who have marked you as spam. Receivers can easily list you as spam if the content is sent out too frequently or is not relevant to them. A rate of 0.1% spam complaint rate is an acceptable rate. Anything higher than that should compel you to make a new strategy and not send batch or blast emails.
To reduce the rate of spam complaints, make sure the ‘from’ name of your campaign is closely related to the name of the page on which the customers have signed up.
Wrapping up:
Email marketing, just like other marketing strategies, is ever-changing with time. It becomes crucial to keep tracking them regularly and to update the plan for email marketing to make it more efficient and valuable.
All the metrics mentioned above show different insights into the performance of the email marketing strategy. With this comprehensive list, you are well on your way to deciding which metrics are key for your industry.
Sendimpactt is a trusted partner for all your needs related to email marketing. With the expertise of our seasoned professionals, you will have your successful email marketing campaign running in no time. Get in touch with us right now to learn more.
