Email marketing is still one of the best ways to reach your target audience, but just sending them mass emails isn't enough.
Your potential customers are constantly bombarded with offers and promotions. And to stand out from all that noise, you need to create email marketing strategies that take into account individual subscriber behaviors and preferences. How do you do that? By carefully studying the data you get from your marketing analytics, which will help you create more compelling emails and ultimately achieve your goals.
What you analyze will depend on what you want to achieve, however, there are some metrics you should be using to track performance. We’ve put together some KPIs you should be looking at, along with a review of which ones you should be paying more attention to based on your email marketing goals. Ready? Let’s get started.
(and the goals they help achieve)
There are a ton of email marketing metrics you could be looking at that will ultimately tell you how well your emails are performing. Here are ten you should keep in mind.
1. Objective: Generate income
Metric: Return on Investment (ROI)
This metric is important because it allows you to see if the azerbaijan telegram lead you invest in your email marketing is worth what you get in return. Obviously, you want to see that your return increases from campaign to campaign. If you invest the same amount and get more growth in return, you know you have a good strategy.
There are different ways to calculate your email marketing ROI , just make sure you check this metric every quarter or so to see the financial performance.
Metric: Revenue per email
This is how much you earn, on average, for each email you send. For example, if you manage to increase your revenue, you could expand your product offering, recruit new talent, or expand into new markets.
Segmenting your subscriber list can lead to better conversions. With segmentation, you send a different marketing message to different groups of potential customers based on their past actions. This type of marketing requires more resources, but it can also significantly increase your conversion rate and your revenue.
Upselling and cross-selling can also increase your revenue for each responding lead. For example, instead of marketing a single product in each email, you can increase your revenue by offering related products together.
Metric: Conversion Rate
A conversion is when a recipient takes the action you want them to take. This metric illustrates the strength (or lack thereof) of your contact list, as well as your overall level of engagement with subscribers. When your conversion rate is high, it means that your message has really resonated with your recipients. And, if the desired action is to purchase a product or upgrade a service, then you can generate more revenue.
2. Objective: Promote a product or service
Metric: Click-through rate (CTR)
Your CTR is how often subscribers click on links in your email from among subscribers who opened your email. A high CTR suggests there is a lot of interest in your product or service, and repeated clicks from a single person suggest that this is a well-qualified lead.
There are a number of variables that can affect your success in this area.
Do your potential customers click and buy more often when you feature a single product or several related products? Does it help if your emails are mobile-friendly? Do you do better when you include a price in the email itself or when it is displayed once they have clicked through to the page?
Testing these variables to see which one gives you the best results can increase your success in this area. Track your results to find out what your potential customers respond to. Test one variable at a time with similar lists to find out what works.
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3. Objective: Create a list of high-quality email subscribers
Metric: Unsubscribe Rate
People unsubscribe from your emails for all kinds of reasons. However, if you see a pattern of unsubscribing, it's a sign that you need to take a look at your emails and try to figure out what might be driving people away.
Metic: Bounce Rate
When an email bounces, it means it never reached its recipient. And when a lot of emails bounce, it means you may have temporary or long-term issues with your deliverability rate . This brings us to our next metric…
Metric: Deliverability Rate
When it comes to deliverability, it refers to your overall success in reaching your subscribers, i.e. the emails that end up in their inboxes and not bounced or in the spam folder .
Metric: Spam Complaints
Too many spam complaints can seriously impact long-term deliverability. It can even cause email service providers to block your address by placing you on an email blacklist . Make sure your emails aren't regularly being flagged as spam, and if they are, take steps to determine what's going on.
Metric: List Growth Rate
The goal should always be to continually grow your list. Look at how many new subscribers you get over time, and just as importantly, compare that number to the number of people who are unsubscribing.
While size isn't everything, the number of high-quality, engaged leads you reach is important.
Find out if your emails are turning potential customers away by looking at your unsubscribe rate, bounce rate, and deliverability rate. People unsubscribing from your list is a normal part of marketing, however, if you find that too many people are unsubscribing, your bounce rate is high, or your emails aren't being delivered, there could be something wrong with your approach, as well as the quality of the addresses you're reaching out to. Make sure you're practicing opt-in email marketing and that you're focusing on building your list rather than buying it.
4. Objective: Increase brand recognition
Metric: Email sharing and forwarding rates
It's very helpful to have your current subscribers help you attract new ones. To see if this is the case, check how often the "share" and/or "forward" buttons are clicked.
Metric: Open Rate
If your goal is to increase awareness of your brand or a new product, as well as having an effective social media strategy, your open rate is one of the most important metrics to keep track of. It’s a measure of how many people open your email campaigns and how many delete them without reading them.
If your open rate is lower than you'd like, there are a number of strategies that can increase it. Changing your subject line to something that adds urgency, for example, can help increase your open rate. You can also vary the times and days you send your emails. B2B emails may get more responses during the morning hours. For B2C communications, weekends may work better for you.
It's important to note that Apple's new Mail Privacy Protection feature now makes tracking this metric a bit tricky. Since subscribers can block senders from accessing their information, which includes email opens, this metric may not be accurate, especially if you have a lot of subscribers using Apple Mail.
5. Objective: Increase website traffic
Metric: Click-through rate
If you want to increase traffic to a landing page or product page, measure how many people click on the links in your email compared to how many people received the email.
To learn more about who's visiting you, create unique tracking codes that go in every email. These codes can tell you which prospects are visiting your website to learn more. When you combine them with other information you have about each prospect, you can learn more about what they're responding to. At Benchmark Email, we track this metric by showing which email recipient clicked on which link, so you can see who visits which page on your website (as long as the link takes them to a web page).
If one of the links in your email isn't generating many clicks, try A/B testing different copy, colors, or fonts for that specific link.
How often should you check your metrics?
To make sure you're not missing anything, check your metrics at least once a month (an automated email marketing software with a built-in analytics dashboard will make this easy). You should also evaluate performance trends on a weekly and monthly basis, so you can spot patterns that might not be obvious on a day-to-day basis.
Quick tips to improve your email marketing metrics
Focus on building opt-in subscriber lists . This ensures that your email recipients want to receive them, which improves your deliverability rate and reduces bounce and unsubscribe rates.
Consider the number of emails you send and how it affects your email conversion rate, deliverability rate, click-through rate, etc.
Clean up your email subscriber lists to eliminate spam accounts. This can greatly improve deliverability rates and reduce bounce rates.
Keep your message short. If your email is too long, it won't be read and, worse, it could result in a bounce or unsubscribe.