Gauging Email Marketing Success
Email marketing is one of the most efficient avenues in reaching new potential clients. It’s also an incredible way to drive engagement with current customers to keep your brand fresh in their mind. As a business owner, you wear a lot of caps and are resposible for many moving parts. It’s simple for your email marketing data to become lost in your day-to-day operations, sending out emails into the ether without knowing how effective your campaigns are. So, do you know how well your campaigns are performing?
Measurement is key in showing success. Therefore, it is an essential aspect of email marketing, breaking down the analytics to know how your list is performing. In this post, we will breakdown the five key indicators you should be looking for to measure your email marketing campaigns’ success.
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CLICK-THROUGH RATE:
Which links are getting the best engagement? There can be quite a few factors here. From the arrangement on the page to linked images to eye-catching buttons, finding out what makes your email marketing list click will be essential to your success. Using CTR (click-through rate) metrics is one way of analyzing this. You can use this metric to decide the amount of action every message creates, which types and what placement of links drive more activity, and also how your supporters are interacting. Test calls-to-action by looking at navigate rates in your website analytics for different messages. A special bonus: you can segment your list and customize content for clickers and non-clickers. Split your lists up and focus on the non-clickers with better offers; give your loyal clickers extra related content.
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CONVERSION RATE:
Your email campaign is off, and you have garnered some interest and key clicks. Now, you need to know whether the next step resulted in a conversion (purchase or desired action). It’s crucial that you track your conversion rate from your email marketing campaigns. If you’re offering a product or service, you can quickly calculate the ROI using its conversion rate. A balanced conversion rate is invaluable when determining the return on investment, otherwise the cost will exceed the benefit, leaving you spinning your wheels in efforts that cost you time and money.
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BOUNCE RATE:
Having trouble delivering your emails? This is what we call a bounce. There are two types of bounces in email marketing: “hard” bounces and “soft” bounces. Soft bounces are usually temporary issues with a valid email id, for example, a full inbox or some issue with the recipient’s server. The recipient’s server may hold these emails for delivery once the issue clears up, or you may try re-sending your email message to soft bounces. Hard bounces are email address which were either submitted incorrectly, spam addresses or are inactive. As long as you are running a double opt-in platform, the occurrences of hard bounces will be nearly eliminated.
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UNSUBSCRIBE RATE:
If you’re sending too many emails or your content isn’t valid, you’ll see your rate of unsubscribes increase. Your email marketing campaign is hinged on these users. So, if you notice the rate of your unsubscribing rapidly rising, it’s time to evaluate your email messages and your distribution frequency. These are the two most common reasons people unsubscribe from your list. The only way to track this metric is to look into your unsubscribe rate and evaluate the trends.
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OVERALL ROI:
Depending on your email marketing platform (BYK suggests Mailchimp), you should always be able to determine the overall ROI of your email marketing campaigns. However if you still are not doing so, assign different values to multiple types of leads, depending on their choices to generate revenue for your business. Looking at different campaigns, set up their costs vs benefit cards. It must help you measure the overall investment cost of a particular campaign and show if that investment was good or not.
In addition, you must determine the type of posts/campaigns that perform well and the subscribers’ list that is more responsive. This will help identify less efficient campaigns so you can put more focus and energy on more effective and efficient means and eliminate ones which are performing poorly.
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Don’t have time to run your own email marketing campaign?
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