Marketing is a required key process of researching, promoting, and selling products or services to your target audience. Among all marketing strategies, Email Marketing stands apart.
Do you know why?
According to Hubspot, 3.9 billion people use email every day. The figure says it all!
An email has been a constant and universal method of communication since the early ’90s. They are easy to customize and are a direct way of connecting with your viewers at their ease of time. Emails can ultimately boost up your sales bringing traffic to your site.
But it gets specific when it comes to promotions or campaigns. We need to know how many active subscribers we have on a list and what a subscriber’s value is. Here is where email marketing metrics come to the rescue.
Below given are the top five Email Marketing Metrics you should be paying attention to make your email marketing campaigns successful.
Top 5 Email Marketing Metrics
Email marketing metrics help you judge the performance of your marketing campaigns. You can track the rates of your emails received and opened, clicked within them, or bring more conversions.
There are plenty of metrics that work as an effective tool to analyze your business and target the right audience.
Below are the top five metrics that can be of great help to make your business more successful.
1. Open Rate
Open Rate is the most commonly used email marketing metric tracking the subscribers who opened the mail. It is one of the easiest metrics to measure how frequently people are reading your emails. Constant check on these rates gives you a better understanding of what type of content gains more popularity among your audience.
Tips on how to improve Open Rates
Below are a few tips that can help you increase your open rates.
Segment Your Mailing List
Segmentation means to provide more relevant content to your email recipients. But the sad reality is 89% of marketers do not segment their email list. To make your open rates grow you should always split up your mail list.
Improve Your Subject Line
An important aspect to remember using this metric is the Subject Line of your email. A good and catchy subject line is the reason to attract more users. If the emails are not opened frequently then the email subject line is for sure a problem.
2. Click Through Rate (CTR)
CTR tells you the ratio of users who click on a specific link to the total number of users who only opened up your mails. Half of the battle is done when you successfully convince a subscriber to follow a link. It also shows you the interest people are taking in your brand.
Tips on how to improve CTR
Sharing relevant content and maintaining your email list can help you build a long-lasting relationship with your audience. Here are a few tips to help you take CTR to the next level.
Format Your Emails
Well-formatted and professional emails have a high chance of an increased CTR. Make your emails responsive so that they show up well on all devices.
Personalize Your Messages
Personalization brings value to your customers. By sending personalized email to your segmented audience it can help boost up your click-through rates.
3. Conversion Rate
Clicking on a link in the email and making a purchase or filling out a form can be a conversion. It shows how effective your message is concerning your objective. 60% of marketers claim it’s something they always monitor to determine the progress of their email campaigns. In general the higher your conversion rate, the better your marketing is!
Tips on how to improve Conversions Rate
You can increase conversion rates for your business by considering the following tips.
Use An Effective Call To Action
Productive call-to-actions encourage people to go through with a purchase or at least move further. A short, clear, and actionable CTA will get you more conversions.
Create A Sense Of Urgency
A sense of urgency encourages readers to take action quickly. You can add a countdown clock to emphasize it.
According to Ollie Smith, “The unsubscribe rate per email is a vital metric that every marketer should be aware of. By monitoring this metric, you will be immediately aware of any loss in subscribers enabling you to react to avoid further loss. It is worth remembering that it is much easier and cheaper to retain existing subscribers than attract new ones.”
Knowing about the list of subscribers is essential for your business growth but keeping an eye on the ones who unsubscribed has an importance on its own.
Tips on how to reduce Unsubscribe Rate
The following strategies will help you get your unsubscribe rate down.
Receiving too many emails can be annoying for the user. Think wisely and choose the right frequency and the perfect time to send your emails. Do the best to maintain it to keep your client happy.
Ask For Feedback
Feedback helps you line up your business strategies as per the requirements of the client. Constructive feedback can help you improve the user experience. If you still fail to keep the subscriber on your list, at least you will know the reason why they unsubscribed.
Sending follow up emails with personal notes can remind recipients about the value you provide to them. You can send emails to users with an interactive subject line like “We want you back” or “We miss you” to reactivate them.
5. ROI (Return on investment)
ROI is a widely used metric to calculate the benefits an investor will receive concerning their investment cost. It is a universal measure of profitability because of its simplicity and easy use. If your ROI is higher then your business is going in the right direction.
Tips on how to increase ROI
To increase your ROI below given points can be of great help.
Automate Email Marketing
One of the benefits of digital marketing is that many platforms allow for automating certain responsibilities. Email automation enables you to improve your email marketing quickly on the go. This way you can focus more on business which can increase your ROI.
Do A/B Split Test
A/B test is a simple tool to try different versions of your marketing emails and helps you decide which goes well with your business. It is recommended because improvisation never stops.
Marketing is an important business process without which many businesses would fail to exist. Although there are a lot of metrics you can use as per your requirement but if marketers were allowed only a single metric then it would be OPEN RATE for sure as it gives a clear picture of the relationship between the brand and the customer.
Before starting email marketing metrics it is good to learn Google Analytics. It is a free tool that helps you in a better understanding of tracking events and reports on email openings.
“Good Marketing makes the company look smart. Great Marketing makes the customer feel smart.” Joe Chernov
Be smart! Be vigilant!
Was this article helpful for you? What email marketing metrics you use for your email campaign? We would love to hear from you in the comments section below.