Which Metrics Should You Focus On if You Are Doing E-mail Marketing?
With the rise of social media, it seems that a lot of new marketers have forgotten the power of an email campaign. Not all email equals spam and people actually read the emails they find interesting. This is why you should never underestimate the purpose of your email list. However, as with any order campaign, you need to create a strategy. The metrics below will tell you how successful it is.
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The deliverability rate
This is by no means the first metric you should look at. It will tell you how updated your mailing list is and which percentage of the emails reached the subscribers. Once you know this number, you will be able to apply the adjustment to calculate the rest of the metrics.
You can keep your mailing list updated by constantly checking on your cold subscribers. This term encompasses those subscribers who have been on your list for at least a month and haven’t shown any interest in your emails within the last three months. You can simply ask them whether they want to stay on your mailing list. Many of those who don’t, will actually take their time to unsubscribe.
Having a clean list will help you plan your email campaigns and create future marketing campaign success projections based on it.
The open rate
This one is pretty clear, once you know how many emails have been delivered, you are interested in knowing how many of them were not ignored and were actually opened. This is the open rate. What affects the open rate the most is the subject line. This is the only information your subscribers get about the email, apart from the notion who it came from. You should test different subject lines by sending them out to smaller groups of subscribers and seeing which ones get the most attention, that is, have the highest open rate.
The click-through rate
Experts from SEO Reseller Hub will tell you that the click-through rate is important for every digital campaign. Be it a website or an email, the engagement that is achieved through the content is measured by the click-through rate. Once the subject has attracted the attention of the subscribers to open the email, they need to find it interesting to actually click and follow the links provided in the email.
The emails you are sending can either be educational or offers. The purpose of an educational email is to inform and prepare the subscribers for what is coming next, which is the offer, that is, the sales. The click-through rate in an email with sales involved is directly linked to the conversion rate.
The conversion rate
Having previously mentioned it, the conversion rate is probably the most interesting metric of them all. You want to know which percentage of emails has actually led to a successful sale. This means that once the subscribers click on a link, they actually make a purchase. You are increasing your chances of a high conversion rate if you include limited promotions and special offers in the email and focus on a single link leading to the offer, embedded in an attractive call to action. This is basically a phrase you use to invite them to act by clicking on it.
The unsubscribe rate
Unfortunately, this is another link you have to include in your emails. Apart from inviting them to check out your new offer, you also have to offer them a way out with an “unsubscribe” link. This means that they actually took the time to save themselves from receiving any future offers from you. This way they will automatically remove themselves from the list.
Before you get sad about this, remember the first paragraph where we spoke about clean mailing lists. The unsubscribe lets you do just that, create a clean list of those who are actually interested in what you have to offer. This way you will be able to use your resources better and curate your campaigns specifically for your audience and not the random passersby. Only a significant increase in this rate should worry you.
The return on investment is the most important number for any type of venture. You want to know how much you had to invest and how much you got in return. A good thing about email campaigns is that you can reach great audiences with fairly small investments and no waste of resources.
What you want to know is how much revenue was generated from the conversion rate, that is, from the sales. Next, you need to take into account the costs of the campaign. This is one of the reasons you should keep track of all of your expenses. Without them, you will never know how successful you actually are. To find out how much each of your dollars spent on an investment is worth, you should take the total earnings which is revenue minus the expenses and divide that number by the total amount of expenses. The amount left over is the amount you earn per dollar.
A lot of common sense and a little bit of math lead to valuable conclusions and knowledge regarding your email campaigns. Each of the metrics will indicate whether there is an issue and what needs to be worked on. The most important is the subject and the content of the email which should be attractive and engaging, as well as the actual offer which should add actual value to the lives of your subscribers.
Key Email Marketing Metrics