In today’s diverse landscape of promotional strategies, email marketing continues to play a pivotal role in your campaign arsenal. Accurate measurement and reporting of email campaign performance are essential tasks for managers. It is imperative to validate and enhance the way you calculate and track the effectiveness of your email campaigns. This is crucial for substantiating budget allocations and showcasing a measurable return on investment (ROI). Measure Email Marketing Campaign
Creating a useful list of email marketing numbers can make this job easy. When you focus on the right email marketing numbers, you can see and tell how valuable your campaigns really are. This can help you get more money for your campaigns and make top executives more supportive of your efforts.
In this email marketing metrics guide, you’ll discover:
1. Click-through rate: Measure Email Marketing Campaign
Click-through rate (CTR) is a measure in email marketing that tells you how many people clicked on a link in your email. It’s an important number because it shows if your emails are interesting to your readers. For example, if you send an email to 100 people but only 10 of them click on a link, it means something in your email isn’t catching their attention.
But don’t worry if your CTR is low. There are things you can do to make it better before you give up on your email campaign. You can put more links in your email, make the content more personal, or send fewer emails with content that’s more interesting to your audience. These strategies can encourage more people to click on what you send them.
There is a formula to calculate your conversion rate based on the percentage of click-through rate:
Clicks / Delivered E-mails X 100 = Click Through Rate (CTR)
2. Conversion rate:
A conversion rate is like a score that tells you how good you are at turning website visitors into customers who buy things. It helps us understand how well a company is using its website to make money. This number is very important in marketing.
If you want more people to buy things from your marketing emails, you can do a few things. First, divide your audience into groups based on their interests. Then, make sure your emails have buttons or links that make people want to click on them. You can also try different versions of your emails to see which one works best. Finally, keep your emails simple and easy to read. By doing these things, you can make more people buy from your marketing emails.
There is a formula to calculate your conversion rate based on the percentage of conversions per visit.
Total number of conversions / Total number of visits X 100 = Conversion Rate
3. Bounce rate: Measure Email Marketing Campaign
A bounce rate is like a score that shows how many people visit a website or app and quickly leave without doing much. To understand its meaning, you should look at it together with other information and think about what’s good for your business. A bounce rate is useful when you’re starting to figure out if your email campaign is getting people interested. It’s a starting point for seeing how well your emails are connecting with your audience.
To reduce the bounce rate and make your email campaigns work better, you can do a few things. Firstly, use methods like double opt-ins and CAPTCHA on your sign-up form to ensure that only people who really want to be on your email list join it. Secondly, keep your email list clean by regularly checking and organizing it. If you see email addresses that don’t work, remove them right away.
Number of Total bounced Emails / Number of Emails sent X100 = Bounce Rate
4. Forward and sharing rates:
This metric looks at how many people use the “forward” or “share this” button in your email to send it to others.
Knowing this number is important because it helps you get new people on your email list. This happens because your current email recipients share your emails with their friends.
To make more people forward and share your emails, start by making them personalized. People are more likely to send personalized emails to others. Also, make it clear in your email that you want them to forward it. Finally, make sure your email content is interesting or helpful, so people will want to share it with others.
There is a formula to calculate your conversion rate based on the percentage of forward and sharing rates
No. of forwards or shares/No. of Delivered Emails X100 = Forward and sharing rates
5. Open rates: Measure Email Marketing Campaign
An email open rate is like keeping track of how often people open the marketing emails you send compared to how many you actually send out. It helps you figure out how well your email marketing is working when you’re sending promotions and ads to the people on your email list.
To make more people open your emails, you can try an experimental approach. Test different things like when you send the email, what you put in the subject line, and how you use pictures. Then, look at the results of your test to decide how to make your email campaign better.
Here’s the formula to find the email open rate:
Number of Emails Read/Number of delivered Emails X 100 = Open Rates
6. Unsubscribe rates:
An unsubscribe happens when someone decides they don’t want to get emails from a particular list anymore. The email unsubscribe rate is the percentage of people who do this compared to everyone who got the email.
If a lot of people are unsubscribing, it means you need to look at what you’re doing with your emails. Maybe you’re sending too many or your content isn’t what people want. You can make it better by letting subscribers choose how often they get emails, asking for their thoughts, and making emails that work well on mobile devices.
To figure out the unsubscribe rate, you need to know two things:
The number of delivered emails.
The number of unsubscribes.
No. of unsubscribes/No. of successful email deliveries X 100 = Unsubscribe Rates
7. List growth rate:
The list growth rate is like a score that shows if your email list is getting bigger or smaller. This score helps you see if your methods for getting new people to join your list are working well or not. It tells you why some ways of getting new subscribers are better than others. When you know this, you can change your plan to do better.
To find the list growth rate, you need to know three things:
How many new subscribers have you got?
How many people unsubscribed?
The total number of people on the list growth rate.
(No. of new subscribers – No. of unsubscribe) / Total Contacts = List Growth Rate
8. Overall ROI:
Overall ROI (Return on Investment) is like the profit you make from your email marketing campaigns. Some people might say that email marketing is not as cool as social media and apps, but it still works really well. On average, for every $1 you spend on email marketing, you can make $36 in return. Email marketing is powerful because it goes straight to people’s email inboxes, where they check their messages every day. This means it can boost sales and is the most effective way to market your stuff right now.
You can make more money from your email marketing by doing a few things. One way is to use email marketing automation, which helps you send emails to the right people at the best times without doing everything manually.
To find the overall ROI of marketing emails:
(Amount Gained – Amount Spent) / Cost = Overall ROI
9. Spam complaint rate: Measure Email Marketing Campaign
The spam complaint rate is like a score that shows how many people thought your email was spam out of all the emails you sent. When someone thinks your email is spam, they can click a button in their inbox that says “This is spam” or “report spam.”
A good rule to follow, set by big email services like Gmail, is that for every 1,000 emails you send, only one person should say it’s spam. If more people than that say it’s spam, it’s considered a high rate, and that’s not good.
To lower the number of people reporting your emails as spam, don’t use lists you got from other sources like shared or traded lists. Also, make sure your emails are sent from the same place where people joined your list, and they should look like they’re from the same place too. This helps people recognize and trust your emails.
There is a formula for the calculation of the spam complaint rate:
No. of people marking email as spam/No. of message recipients = Spam complaint Rate
Winding Up Conclusion
In conclusion, understanding and using email marketing metrics is vital for the success of your campaigns. Metrics like open rates, click-through rates, and conversion rates help you gauge how well your emails are performing and where improvements are needed. Reducing unsubscribe rates and spam complaints, while aiming for a good ROI, are essential goals in email marketing. By carefully analyzing these metrics and making necessary adjustments, you can create more effective email campaigns that connect with your audience and deliver better results.
Interesting Reads:
Best AI Tools To Future-Proof Yourself (2023)
Mastering eLearning: The Power Of Learning Management Systems
The Best 10 Qualitative Data Analysis Software Platforms In 2023
