Email marketing metrics to monitor. Below is a list of the most important email marketing metrics you should track and pay attention to when doing your email campaign analysis. Note: Different email marketing service providers may have their own ways of calculating these metrics. The following formulas are something I’d like to refer as a. Email Performance Metrics is challenging to understand for first-time senders. Knowing when a campaign is performing well, vs. When it isn’t, can be challenging. In the following answer, we discuss what is Best Practice for promotional campaigns and the reasons behind it.Reading Time: 4minutes
When the first electronic mail was sent back in 1971, the historic moment sparked a revolution that would change the way how we not only communicate but also how we build businesses. It has become an essential tool in the marketing sector, where marketers fully utilize this channel as a direct and cost-effective method to power their acquisition strategies.
KPIs are metrics that organizations can track to more thoroughly understand how successful they are at achieving their goals. Marketing performance metrics shine a light on what a business can do to boost success. It’s particularly important to track digital and email marketing campaign metrics when looking for ways to drive revenue. Luckily, Mailchimp has created the best resource ever for taking a peek into your peers’ email marketing metrics. This resource provides averaged email performance data for 46 different industries, ranging from Arts and Artists all the way to vitamin supplements.
It’s not surprising that an email is still a top-performing tool for businesses and with good reason. Your email marketing efforts can reach a wide audience at a relatively low cost compared to other forms of media exposure. An email is also versatile in a way that it brings your brand to consumers through an eclectic mix of graphics, links, and custom text.
However, it’s important to note that you have to measure email marketing campaign performance to find out if your efforts are not in vain.
This makes it crucial to understand email marketing data. Here are the important metrics that you should measure to gauge email marketing campaign performance:
6 Metrics to Measure Email Marketing Performance
#1. Open Rate
An email’s open rate is the percentage of people who clicked on the email with the intent to read its contents. This is generally considered as one of the most important metrics to watch out for. If your email is left unopened, your message won’t get seen.
To boost your chances of having your email opened, there are two factors you need to consider:(1) the subject line and (2) the preview text. For best results, keep it short, simple, and straightforward yet creative. Also, make sure your email is personalized to your target audience’s interests.
Formula: No. of emails opened / no. of emails successfully delivered x 100
#2. Click Rate
The click rate or clickthrough rate (CTR) is the percentage of those who clicked on any of the links in your email. There are two kinds: unique clicks and total clicks.
Unique clicks are those coming from different IP addresses while total clicks include the overall clicks including those from the same devices.
Your CTR will show you how effective your email message is and how compelling your call to action or link is. So, if you’re getting lots of opens but not as many CTRs, it’s a telling sign that you need to tweak your email’s message or CTA button.
Formula: Total no. of unique clicks / no. of emails sent x 100
#3. Bounce Rate
You will need to track your bounce rate and classify each of them if it’s ‘soft’ or ‘hard.’ A soft bounce happens when a problem is due to a recipient’s inbox or email exchange server, in which case the email you sent gets stuck in server limbo (usually temporary).
Email Performance Metrics And Industry Average
Hard bounces are what you should avoid, since they mean you’ve contacted an invalid, inactive, or non-existent email addresses with zero chances of getting delivered. To make matters worse, your ISP can track all these hard bounces and reduce your sender score, which can affect email deliverability in the future.
Formula: No. of bounced emails / no. of emails sent x 100
#4. Conversion Rate
The ultimate goal of your email marketing campaign is to get your target audience to convert. This happens when someone clicks on your email and takes the action you want them to take (such as downloading an eBook, signing up for a newsletter, or any other action listed in your conversion goal).
Knowing your conversion rate will allow you to determine if your email marketing campaign is effective, from your subject line down to your CTA and landing page.
Formula: No. of people who performed the desired action (e.g. sign up or purchase) / no. of emails delivered x 100
#5. Unsubscribe Rate
This is the rate of people who have unsubscribed from your mailing list, which isn’t good for your campaign. Although, it’s worth noting that the unsubscribe rate doesn’t paint a reliable picture of the health of your mailing list since many subscribers who may have grown tired of receiving emails from your brand won’t even bother going through the formal unsubscribe process. They’ll just stop opening your emails altogether.
The smarter approach to measure subscriber engagement is through CTR and conversion rates. From there, you can observe those who are unengaged and eventually take them out of the equation for a more accurate measurement of your email marketing campaign.
Formula: No. of unsubscribes / no. of messages delivered x 100
#6. List Growth Rate
Your list growth rate is simply the rate at which your email list is growing. This is a good metric to keep tabs on aside from your CTR and conversion rates. Your goal here is to keep it at a healthy size so you can continue to expand your audience reach and position your brand as a thought leader in the industry.
Formula: ([(No. of new subscribers) – (no. of unsubscribes + email or spam complaints)] / total number of email addresses on your list]) x 100
#6. ROI (Return on Investment)
Despite not having a set formula in calculating the ROI of your email marketing campaign, you could generally measure this by dividing the return you made by the cost you incurred throughout your entire email campaign.
The best way to boost your ROI is to focus your efforts on lead generation. You should be tracking how many leads convert so you can measure the revenue you’ve generated.
Formula: Additional revenue/value generated by the campaign / total campaign costs
The Bottom Line
Metrics will always be essential when measuring your performance, particularly in your email marketing campaigns. With these telling figures, you’ll be able to analyze your strategies and make adjustments when necessary.
Email marketing may be simple and direct in concept, but you should know how to customize your emails to target your audience more effectively. Armed with the right knowledge to drive conversions, you can up your email marketing game in no time!
This guest post was written by the Spiralytics Team. Spiralytics is a full-service agency that specializes in marketing that’s backed by data science. Contact us today to find out how we can grow your business!
Do you want to know which email marketing metrics are the most important to track? Being able to narrow down the metrics you analyze can prevent you from becoming overwhelmed and show you how your email marketing efforts are doing.
In this article, we’ll discuss the top email metrics you should be tracking.
Why Email Metrics Are Important
Email metrics are important to measure so you can see how well your email campaigns are doing. After all, if your subscribers open your emails, but don’t click through on the call to action button, you’ll never be successful.
In addition, you should track key email marketing metrics for the following reasons:
- Prevent overspending on an email service you don’t need
- Fix emails that are being flagged as spam
- Determine whether your subscriber list is growing
- Make sure that your subscriber list is engaged
- Find out whether emails are being delivered properly
- See whether site visitors actually read your emails
And there are plenty more reasons too!
However, no matter why you want to track email marketing metrics, it really all comes down to finding out how well your email campaigns are performing.
Now, let’s take a look at the top email marketing metrics that will matter most to your long term success.
1. Open Rate
Your email’s open rate is the percentage of people that have opened your email. This email marketing metric helps you determine how likely it is that people will read your email’s content.
If you use any of the top email service providers on the market today, they have already calculated your email open rates for you.
For instance, Mailchimp lets you track your campaign’s open rates:
However if you want to do the math yourself, just divide the number of unique opens by the number of emails sent, minus the number of bounces.
Open Rate = Unique Opens / (Number of Emails Sent – Bounces)
According to IBM’s 2016 Email Marketing Benchmark Study, the average email open rate in the United States was 21.5%.
Of course, depending on your email service provider and industry, your own email metrics may be higher or lower than the average.
If your email open rates are low, it may be because:
- You purchased an email list and most subscribers are not interested in what you have to offer
- Email lists aren’t segmented based on people’s interests
- There are lots of inactive subscribers and you haven’t cleaned up your list in a while
- Your email’s subject lines aren’t engaging
Roblox arsenal hacks for mac. One of the best ways to get new subscribers to open your first set of emails is to offer a valuable content upgrade as a reward for signing up.
From there, keep the email subject lines engaging and the content within them exciting, so every time a new email lands in a subscriber’s inbox, they can’t wait to see what you’ve sent.
2. Clickthrough Rate
Your email’s clickthrough rate is the percentage of people who click on the links you’ve added to your email.
This email metric is easy to calculate on every single email you send out. It’s also easy to see over time whether the percentage goes up or down.
The clickthrough rate of emails give you an idea as to how likely it is your subscribers will engage with your email’s content.
It’ll also show you how interested people are in learning more about your brand.
According to HubSpot, companies that send 16-30 email campaigns a month see a clickthrough rate that’s 2x greater than those sending out fewer than 2 campaigns a month.
Keep in mind, these statistics refer to targeted email campaigns sent to a particular group of people, not an email blast to everyone on your email list.
For help with segmenting your Mailchimp subscribers by their interests, check out this step by step tutorial on how to allow users to select Mailchimp groups in your WordPress forms.
If your clickthrough rate is low, you should start split testing your email campaigns to pinpoint why people are opening your emails but not clicking on the provided links.
You can A/B test things like:
- Email subject lines
- Format, especially when it comes to mobile layouts
- Fonts, colors, images, and branding
- Length and content format
- Call to action button copy, color, and location
There are also plenty of other email marketing campaign elements you can test and track as an email metric:
Just remember, only split test one element at a time to make sure you get the most accurate data possible.
If you want some more ways to boost your email clickthrough rates, check out these clever email personalization examples to gain more leads.
3. Conversion Rate
Your email’s conversion rate is one step past the clickthrough rate in that it measures how many people clicked on a link within your email and completed a desired action such as filling out a lead form or making a purchase.
The whole point of email marketing, beyond engaging subscriber’s with valuable content, is to get them to take some sort of action.
In other words, marketers use email campaigns to get people to convert.
In fact, conversion rate is such an important email marketing metric to track, 60% of marketers claim it’s something they always monitor to determine the progress of their email campaigns.
The way you get people to convert is to have a clear call to action button somewhere in your email for people to click on.
Your email’s CTA should tie directly to your overall marketing goals and can be optimized by:
- Using strong call to action copy in the button or link that will guide subscribers to your website
- Including large CTA buttons and bold colors
- Making the call to action short and actionable
- Using the first person to add power behind the action you want subscribers to take
- Adding a sense of urgency that will encourage subscribers to act now before it’s too late
Lastly, as we do here at WPForms when something exciting happens, tell people exactly what to do. That way there’s no question what the next step is:
If you want to track your email conversion rates, you’ll need to integrate your email service provider with a web analytics tool like Google Analytics.
Luckily, you can easily connect your WordPress website to Google Analytics using the MonsterInsights plugin. It’s the best Google Analytics plugin for WordPress.
With this plugin, you can create custom campaign URLs with UTM codes, right in the WordPress dashboard, that will track the performance of your email campaigns.
This way you’ll always be able to measure your email’s conversions. You’ll also know what is convincing people to take action and be able to capitalize on that actionable data.
4. Overall ROI
The last email marketing metric you should always measure is the return on investment, or ROI, of your email campaigns. This way you know the money you’re spending on campaigns is worth it.
Luckily, email marketing is the number one driver of revenue for many businesses.
In fact, according to an eMarketer study, email was found to have a median ROI of 122%, which is four times higher than any other type of marketing.
You can calculate your email’s ROI by using this formula:
(Revenue – Expenditure on Campaign) / (Expenditure on Campaign) * 100
Closely monitoring your emails’ ROIs allows you to see which campaigns are working the best and which ones need improvement. By doing this, you can make sure your business is profitable, long in to the future.
Email Performance Metrics
And there you have it! The top 4 email marketing metrics that make the most difference when it comes to your success.
If you want an additional way to track how successful you are, be sure to check out how to track WordPress form conversions so you can continue to build your email list, send out actionable emails, and grow your business. And if you’re in need of some fact-based statistics about email marketing, as well as lead generation, form conversions, and form abandonment, check out these 101 unbelievable online form stats and facts.
So, what are you waiting for? Start building your email list using the most powerful WordPress forms plugin today.
Email Performance Metrics
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