Email marketing is by far the most profitable method of reaching out to your audience. Unfortunately, creating a successful email campaign is not always as simple as it appears, especially if you are unfamiliar with email analytics.
There are numerous metrics to consider in order to keep them on track.
Not sure where to begin? We have all the information you require. Let’s take a look at the email analytics that you should be aware of.
1. Open Rate
It should come as no surprise that one of the most important metrics to consider is the number of people who open your emails. After all, how can you expect your audience to take the desired action if they never make it to your message’s body copy?
Generally, the subject line of an email plays a significant role in whether or not recipients feel compelled to open the message. The ideal headline will vary significantly depending on the industry you’re in and the demographics of your audience, so it’s critical to test a large number of them.
One of the most effective ways to do so is to segment your audience and use distinct headlines for each segment. After that, you can determine which headline performs the best.
2. Bounce Rate
This term refers to the total number of emails you’ve sent but never received a response from your audience. This is referred to as emails ‘bouncing’ back to the sender.
Messages frequently fail to reach their intended recipient due to a server outage or an overflowing inbox. However, in some cases, an invalid email address (or one that simply does not exist) can contribute to your overall bounce rate as well.
These email addresses should be immediately removed from your email list, as they artificially inflate the total number of consumers you can contact.
3. Voluntary Unsubscriptions
You’ll need to be aware if people are unsubscribing from your company’s emails. Naturally, you cannot prevent every member of your audience from eventually unsubscribing—some people simply no longer wish to receive promotional emails.
If you notice a spike in our subscriptions following a recent email blast, you’ll need to investigate what was sent. It is not impossible for an error in the email copy to mislead your audience. Likewise, email content that does not load properly can give recipients the impression that you are unprofessional.
As long as your list of valid email addresses continues to grow, voluntary and subscriptions are unlikely to be an issue.
4. Overall ROI
Calculate your total return on investment (ROI) to determine whether or not your current email marketing strategy is generating the revenue you expect. Fortunately, this is not nearly as challenging as it sounds.
This can be accomplished using the following formula:
ROI = net return on investment/cost of the investment x 100
As a result, your equation might look like this:
Email marketing ROI = $20,000 in sales/$4,000 investment x 100 = 500
The number ‘500’ is a percentage, indicating that this email marketing campaign generated a 500% return on investment.
As previously stated, overall objectives will vary by business. As long as you meet or exceed expectations, your email campaigns will be successful.
If you fall short of these targets, it’s prudent to review the content you’re sending while also conducting more in-depth research on your audience.
5. Click Rate
The click rate metric, as the name implies, indicates how many recipients of your email click on a link within the email. This is a remarkably objective method of determining the effectiveness of your email marketing efforts.
It’s critical to remember that a high click-through rate does not always translate into a high conversion rate. However, sending emails with a low click-through rate is far less advantageous.
This leads us to the…
6. Conversion Rate
In marketing, a conversion is a desired action by consumers. Thus, it could entail making a purchase or downloading a complimentary eBook.
Due to the fact that you already have their contact information, email marketing conversions are typically focused on sales.
To maximize revenue, your marketing emails should be focused on optimizing your conversion rate. By including a strong call to action at the end of the message, you can help increase the number of people who take the desired action.
In addition, the format of your email matters, with more streamlined, scannable formats preferable to blocks of text.
This metric indicates the total percentage of emails delivered to subscriber inboxes. While the bounce rate is a significant factor in determining this, other factors such as soda spam filtering, Internet service providers, and so on. To determine your deliverability rate, simply use the formula below:
Deliverability Rate = number of emails sent – number of emails bounced
In general, you should aim for a deliverability rate of at least 85% to maintain competitiveness in your industry.