How well are you performing with your email marketing?
Email marketing is a comprehensive topic and whilst it’s impossible to discuss how to do it well in a single article, it is possible however to share what the essential email marketing metrics to track are for our email marketing in general.
By assessing these key metrics you are able to determine how good or bad an email campaign performed compared to the last.
You also know exactly what areas you need to improve in order to improve the overall performance of your email marketing campaigns.
Your autoresponder service should provide a wealth of reporting on each campaign and on your ongoing email performance.
Here are the 7 of the most important email marketing metrics that you need to measure and how you can use them to improve the performance of your overall email marketing campaigns:
Definition: Bounce rate measures the percentage of emails sent that could not be delivered to the recipients Inbox.
How to Use: Use this metric to uncover potential problems with your email list.
There are two kinds of bounces to track: “hard” and “soft” bounces.
A “soft” bounce is an email that you have sent which hasn’t reached the recipients Inbox due to several situations that may occur such as:
- A full Inbox
- Temporary problems with a mail server
The recipients server may hold your email for some time and try to resend to the Inbox if the problem fixes itself.
Or you can try resending the email by creating a list segment consisting of “soft” bounces and specifically resend your email to initial recipients that “soft” bounced.
A “hard” bounce is the result of an invalid email address.
These email addresses you need to delete from your list in order to clean up your list, lower your bounce rate, and maintain a high quality relationship with your autoresponder service.
A high bounce rate may be perceived as “spam” by an ISP.
This doesn’t make your business look to good let alone the autoresponder services reputation.
Usually the autoresponder service you use will limit your account functionality and advise you that you need to lower your bounce rate if you wish to continue using their service.
Definition: The percentage of emails that were successfully delivered to recipients Inbox.
How to Use: Your delivery rate indicates the rate at which your emails have successfully been delivered to a recipients Inbox.
Ideally you want the highest delivery rate possible for your email marketing.
There are a few variables that can potentially lower your deliverability rate such as too many invalid email addresses in your database.
Any part of your email being flagged as “spam” including the subject line and/or content of your email.
Overall you should expect and aim for a delivery rate of 95% or higher.
Definition: The percentage of recipients that clicked on a link contained in an email message.
How To Use: Your autoresponder service usually will automatically do the math and provide you with your CTR.
The formula to calculate your CTR manually is to divide the number of unique clicks by the number of emails delivered.
The metric is the cornerstone of your email marketing because the CTR indicates whether the message was relevant and the offer compelling enough to induce readers to click on the link contained in the email.
Definition: The percentage of recipients who clicked on the link within an email and complete a desired action such as filling out a form or purchasing a product.
How to Use: The conversion rate metric is the number one priority with your email marketing campaign.
A high conversion rate would indicate that the offer was highly relevant ad compelling to the recipient where the opposite is true for a lower conversion rate.
There are however other variables to factor in that play a part in differing conversion rates such as the quality of a squeeze page, sales letter, or sales copy that you are redirecting recipients to.
List Growth Rate
Definition: The rate at which you are generating new subscribers for your list on a day-to-day basis.
How to Use: All autoresponder services keep track of this statistic as it is a vitally important metric to track to ran online business.
Naturally when every email you send there is always going to be a small portion of recipients who unsubscribe, this is normal, this is the nature of email marketing.
To counter this, you need to constantly and continuously grow the size of your list on a day-to-day basis.
The amount of unsubscribes from your list is an insignificant metric so long as you are able to generate a constant flow of new subscribers day-to-day.
Lead to Customer Conversion Rate
Definition: The percentage at which you are able to convert leads into customers for your online business.
How to Use: If you are sending an email with the intention of selling a product or service after the recipient clicks on the link then this is your regular conversion rate.
It is the same metric to track however it is a different metric to track if the desired action you require from a recipient is anything but making a purchase.
Variables that determine your lead to customer conversion rate include the quality of the email message combined with the quality of the sales letter and checkout process.
This all plays a part in determining your overall lead to customer conversion rate.
Earnings Per Click
Definition: The amount of revenue generated from a particular email campaign.
How to Use: This is the number one metric that potential affiliates will want to know to help them determine whether your offer is worth promoting or not.
This metric determines exactly how much you will make per click for an email sent.
This is calculated by dividing the total amount of revenue generated by the amount of clicks generated from a particular email.
These are the 7 essential metrics that you must keep track of at all times with your email marketing to determine the strengths and weaknesses of your overall email marketing campaign and in what areas you need to improve in to increase overall conversion rates.