Tracking the metrics is vital for successful email marketing campaigns and allows you to determine the performance of each mail so, that you can able to identify what’s works and what’s not., Analyzing the metrics will help you continue to develop a meaningful relationship with your audiences.
Email Marketing Metrics
Open Rate
This metrics tell you how much percentage of subscribers opened your email. A lower open rate indicates that people are not interested in engaging with your content. Here, the subject line plays a key role and you need to optimize for higher open rates. This metric will be more valuable and effective when you use it as a “comparative metric”. E.g., you can compare last week\’s mail to this week mails will give some insights to modify and control the email campaigns.
Tips for improving the open rates:
- Attractive subject line
- Avoid spam filters
- Personalized content
- Recognizable sender name
Click-Through Rate (CTR)
CTR is the metric that gives a percentage of people who click on or more links included in a given mail. This metrics will tell you “How your subscribers/audiences engaging with your content”. It reflects how many people are interested in learning about your products or services and brand.
By monitoring these metrics, you can run A/B tests and find a new way to get more attention and click in your emails.
Tips for improving the CTR:
- Perfect fonts, images, and colors.
- Focus on the length of the content.
- By giving the perfect CTA button.
Conversion Rate
This metrics tells you how much percent of people who clicked on CTA (Link) within a mail and completed a desired action. It will be like filling out the form, taking feedback surveys, or purchasing a product or services which you offered. If you see the statistics “60 percent of marketers looking into conversion rates to find out the progress of their email campaigns”
Tips to improve the conversion rates:
- Creating a sense of urgency that will stimulate subscribers to take action.
- Making the CTA button short and desirable.
- Include Action verbs
- Try to include enough space around it that a reader can glance at and know what to do.
Overall ROI
These metrics tell you the overall return on investment of your email campaigns. For example, if you spend a cost of 500 to run the campaign and you earned 5000 additional sales.
(Revenue – Expenditure on Campaign) / (Expenditure on Campaign) * 100
In this case, (5000-500)/500*100 = 900% ROI for the email campaign.
A study found that email marketing was found to have a median return on investment (ROI) of 122 percent. By comparing this it will be 4X higher than other types like social media, paid search, etc marketing campaigns.
Hence, Overall ROI gives you a clear picture of your email marketing success.
Tips to improve Overall ROI rate:
- Goal-Setting clear goals and selecting buyer personas (Buyer journey stages)
- Focus on deliverability – By focusing on where your mail lands like junk or spam filter web-based email services.
- Segmenting Email List – The life cycle of segments in email marketing is subscribers>leads>customers. Finding who to mail and who not to mail will improves email campaign performance.
- Sending at the perfect time will be sent the relevant content and time period. Try to determine the best days and times to send your emails that gives a big impact on engagement rates.
By measuring individual email performance, monitoring the health of the database, targeted follow-up emails, and sending contextual messages & optimization will lead to higher conversion rates. Following these metrics will keep you on right track for effective email marketing campaigns.