Open Rate and click-through rates are the most common, popular yet important email marketing metrics that probably every marketer knows of, but these are not the only metrics to rely on for your email marketing.
Email marketing metrics help you in the following things:
- It helps to determine the success of email marketing, whether your targeted goals are accomplished by email marketing or not.
- It also helps your marketing team to update their objects and targets.
Considering these things, it is not enough just to understand email marketing metrics, but it is also significant to know, understand and make the best use of these email marketing metrics. So, here is a list of metrics along with CTR and Open Rates to help you choose for email marketing.
It is one of the oldest yet effective metrics for email marketing. In simple words, the Open Rate is the number of opened email messages that you have sent to your clients or users. The Open Rate works perfectly as far as your email clients do not use the feature that automatically opens email messages. This is the case only with yahoo or iPhone user clients. Open Rate measures success by using an impression pixel. It means Open Rate considers an email to be open only if images are downloaded, and for email clients other than yahoo and iPhone, images are not loaded automatically thus gives the exact measurements.
Open Rates can be used for comparison. Keep track of emails for the last three months that you have sent. Check which email has the highest Open Rate and compare that email with others so that you can find out what is missing in other emails.
Open Rate is also effective in comparing the overall success of your email marketing services. Compare the existing percentage of Open Rates with that of last quarter.
Usually, 20-30 percent Open Rate is considered to be good, and if you are maintaining an Open Rate of 50% then you can mark yourself like a pro, but if you have Open Rate percentage in a number ending in ‘teens’ then do not worry, because it is considered to be average for some niches.
Return on Investment
Nothing unexpected here.
You must have heard a lot about return on investment in marketing space. It is important as most of your marketing decisions rely on the total profit you made. It makes ‘return on investment’ (ROI) one of the most significant metrics for your email marketing.
Return on investment is used for understanding your email marketing success. You can keep a track of return on investment for measuring the success of email marketing if your overall return on investment drops then it means your email marketing is not working as it should be, and if there is an increase in your return on investment then it means that your email marketing is effective and working properly. You can also consider these questions for measuring the success of email marketing as a marketing channel.
- What is the number of leads that are being generated by your emails?
- How your emails work when it comes to potential revenue?
Before going into details of conversion rate, the thing that you should know is what is meant by converting someone? In simple words, it means convincing someone in such a way that it changes their behavior or way of thinking. So, in email marketing, conversion rate determines how many email recipients have purchased, subscribed or taken the required action because of your email marketing efforts. Conversion rate helps you to determine the success of your email marketing strategy by following ways:
- How many people have joined your group?
- How sign ups did you get for your webinar?
- What is the count of downloads for your eBook?
In short, the conversion rate is all about how much you have engaged your recipients with your business? As your ultimate goal is to convert them to an active client from a passive email recipient.
You can consider following email marketing tips for maximizing conversion rate:
- Make your emails inviting
- Try to generate personalized emails
- Try something valuable for your clients
- Tell your recipients how your product or service is going to change their lives positively.
Forward Rate gives you the total number of clicks on social sharing buttons for content posting in your emails that you have sent to your email recipients or subscribers. The Forward Rate also measures the success of your email marketing by having a count of total clicks on the forward button by your subscribers or email recipients. Forward Rate is not only a metric for email marketing but it also tells you how much your content has been shared with a new audience so that you can update your content accordingly.
Base Growth Rate
In simple words, the Base Growth Rate is the increase in your emails list excluding rejected emails and canceled newsletter subscriptions.
This metric is usually chosen for email marketing if you want to check whether your strategy for lead attraction is working effectively or not. Your Base Growth Rate is directly proportional to the count of your email list. If you have a high base growth rate it means you are getting new emails and if it is low then it means your need to work on your content to make it more interesting and compelling.
25% of the annual decrease in your base growth rate is considered to be natural. So, do not panic. It is more important if you have a smaller base growth rate which interacts rather than having a high base growth rate with no interactions.
One of the best metrics for email marketing effectiveness is the deliverability rate. The deliverability rate gives you the count of how many emails have been accepted by the server of your subscriber or recipient. It can be used to reduce complaint rate, spams and number of canceled subscriptions. This can be done simply by:
- Deleting invalid email addresses
- Email addresses that bounce
- Updated your email list regularly
If your deliverability rate is low or if you have a large number of unsubscribe requests, then reconsider the following:
- Pay more attention to the quality of content that you are sending in your emails
- What is the frequency of sending emails?
- Your email list which you use to send email messages.
This metric is helpful if subscribers or email recipients open the email that you have sent. As it measures success by having a count of people engaged with your content and how many recipients or subscribers have clicked CTA buttons or links in your email. 10% or more is considered to be a good click-through rate.
You can increase your click-through rate:
- Sending out relevant newsletters can be used for getting a higher click through rate
- Making a design that is adaptive for mobile devices gives a lift to your click-through rate
- Try to create content that is interesting and compelling
- Do not use blocked images in your emails
- Do not forget to create a Call-to-action (CTA) button if you want to increase your Click-through rate.
Complaint rate measures the success of your email marketing by determining the total number of subscribers who have spammed your email message out of 100 subscribers. It is not possible to reduce your compliant rate to 0, but try to maintain it at 0.02 percent which is considered to be an average complaint rate.
You can reduce your complaint rate by taking care of the following point:
One of the top reasons to be spammed is the hidden unsubscribe link. People don’t bother to find unsubscribe link and mark you spam if they do not find the link in the first go. So, it is highly suggested not to hide the unsubscribe link.
It can be difficult to get success in your email marketing efforts, but it is not impossible. Above mentioned email metrics are really helpful in improving your email marketing strategy. All you have to do is to choose the right metrics for your email marketing according to your requirements and keep a track of it, and you will get the required results in no time.