5 Effective Metrics to Measure Email Marketing Success
Be smart about email marketing metrics you are tracking
Email has been with us since the early days of the Internet. It has also been accompanying businesses in their marketing endeavors for decades. Though today there are multiple alternative ways to reach customers and prospects, it is still one of the most effective. People prefer to receive promotional content through email. As a result, the average ROI of emails is more than 4 times higher if compared to other marketing formats, making email a must-have for any campaigns.
Launching a campaign, marketers aim at reaching a specific goal (e.g., promoting a new product or generating more leads). The next thing they need to do is figure out whether it is successful. In this article, we are going to share with you 5 email marketing metrics to keep an eye on to find out how far you are from your goal.
Delivery rates represent the main starting point which sets the stage for success or failure of the campaign. Email marketing newcomers often don’t realize that not every sent email reaches the addressee. That’s why the delivery rate comes into play.
If the rate is low or is declining with each email blast you send out, it’s time to clean the email list to make it healthy. Watch the bounce rate carefully throughout every campaign since it will tell you how many emails were not delivered to recipients.
Emails can be undelivered due to different reasons, making bounces ‘hard’ and ‘soft’. Soft bounces stem from a temporary problem with a valid email address (e.g., an addressee’s server-side problem or full inbox). When it comes to hard bounces, there’s a permanent reason why emails cannot be delivered (e.g. an invalid email address). Your task is to reduce the number of hard bounces to make a good email list.
2. Click-through rate
The fact that recipients have received your email and opened it doesn’t mean that you’ve obtained the necessary result. Users must click the links in the email, showing their engagement. Emails can be effective – their average click-through rate is around 3%, while the same of tweets is under 1%. But click links included in the email only when they find the content relevant.
To put it shortly, relevant emails have high click-through rates and vice versa. If your rate isn’t high enough, it’s time to change the approach to marketing campaigns. For instance, stop sending the same copy to all the subscribers. It’s much better to segment the mail list and send emails according to the interests of particular segments.
3. Sharing and forwarding rate
The sharing and forwarding rate is one more important metric. If your emails are shared on social media or forwarded to someone else through email, you can be completely sure that subscribers like your copies and they will certainly come back to your store again and again. You can find out this rate by dividing the total number of clicks on share or forward buttons by the total number of delivered emails.
And that’s not all. When subscribers forward your emails to other people, you get potential customers and, possibly, new subscribers. It’s crucial to learn which types of offers and articles are shared most and always add them to your campaigns in the future.
4. Conversion rate
If the goal of your campaign is to encourage subscribers to perform a particular action (e.g., make a purchase), any person who carried out this action counts as a conversion. Leverage Google Analytics to set up Goals and track such actions.
Remember that it’s normal that a conversion rate is smaller than a click-through one. To improve conversion of your emails, make them responsive so that mobile users were covered too. If an email isn’t optimized for mobile, it will be immediately deleted by mobile subscribers.
5. List growth rate
A rate at which your email list is growing is also very important. Though email lists are inclined to decay, marketers do their best to grow them constantly. To achieve a high list grow rate, try to eliminate spam complaints by considering needs of your customers and reducing the number of spam-like emails.
Pay attention to subscribe and unsubscribe rates. The subscribe rate can be high but you can’t start resting on your laurels. The unsubscribe rate may become high too anytime, you should review the strategy as soon as possible to make your subscribers stay and entice other shoppers into subscribing.
Email campaigns remain part and parcel of successful marketing strategies. When launching a campaign, marketers should be smart about metrics they are tracking to effectively measure performance of each email they send out. In this article, we described 5 main metrics that can help you discover whether the campaign benefits your business. If you have any comments, feel free to share them with us using the box below.