Do you ever feel like you're sending emails into the void? Fortunately, you can quell your fears and boost your confidence by tracking email marketing metrics. Following the right metrics, you can gain valuable insight into how your audience interacts with your emails. Discover the top 9 metrics you should track in every campaign and learn how to improve them. Take advantage of the chance to take your email strategy to the next level.
Why Track the Results of Email Campaign
Metrics help marketing specialists understand the effectiveness of email marketing strategies or campaigns. By analyzing the metrics, you can identify what's working and what's not, and adjust your approach accordingly. For example, metrics may shed light on:
- Audience behavior and preferences. For instance, a high bounce rate may indicate that your emails are not reaching the right audience or that your subject lines are not compelling enough. As soon as marketing specialists understand this problem, they can take action to improve engagement rates, increase conversions, and, ultimately, drive revenue.
- Quality of content. A low conversion rate may suggest that your call-to-action could be more precise or that your landing page needs improvement. Correcting these issues can help you align the content you share with your target audience's interests and enhance your campaigns' effectiveness.
- Trends and patterns. You may notice that certain types of emails perform better during specific times of the year, week, or even day and that your audience responds better to certain subject lines or word choices. With this knowledge, you can refine your strategy and optimize your campaigns for better results.
Tracking email marketing KPIs is essential for any campaign, as every action has a goal, and every email campaign should have a purpose. In fact, there are many strategies to improve marketing campaigns and make the most out of them — metrics are just the tip of the iceberg. Nevertheless, you should check the metrics for email marketing to understand whether the campaign has hit its target and make data-driven decisions.
How to Choose Email Metrics to Track According to Your Marketing Goals
To maximize the impact of your email campaigns, start by defining your objective. For example, do you need to drive sales, increase awareness or have a list growth? Then, based on your goal, prioritize the right metrics to track. Here's a breakdown of which metrics work best for which marketing goals:
- Brand awareness — open rate and social shares.
- Sales — conversion rate and revenue generated.
- List growth — list-building campaigns.
- Engagement — click-through rate (CTR) and forward/share rate.
- List quality — bounce rate and complaint rate.
Don't try to track everything to get the most out of your email campaigns. Instead, focus on crucial metrics aligning with your marketing objectives. By doing so, you can make data-driven decisions that improve engagement, conversions, and revenue.
The metrics you choose to track should align with your marketing objectives and provide insights into the effectiveness of your email campaigns.
Remember: not all email campaigns are created equal. The metrics you track will differ depending on the campaign type you're running. For example, a promotional campaign may focus on click-through rates, while a newsletter campaign may prioritize open rates and list growth.
Regarding tracking email marketing metrics, it's not a one-size-fits-all approach. Instead, it would help if you considered your audience's preferences and what metrics are most relevant to them.
To truly understand the impact of your email campaigns, don't view your email marketing metrics in isolation. Instead, they should be analyzed with other data points, such as website analytics and sales data. By looking at the big picture, you can gain a deeper understanding of how your email campaigns are impacting your overall marketing strategy.
Email Marketing Metrics You Should Track in Each Campaign
Whether you're looking to increase sales, build your brand, or grow your list, tracking email marketing metrics is the key to success. But with so many metrics, which ones should you focus on?
Here are the top 9 email marketing metrics you should track in every campaign to boost engagement, conversions, and revenue:
- Open Rate indicates the percentage of recipients who opened your email. It measures the effectiveness of your subject line and preheader. How to improve the open rate? Try personalizing subject lines, testing different send times, and segmenting your audience to reach. The formula to count email open rate:
Open Rate = (Number of Emails Read / Number of Delivered Emails) * 100 - Click-Through Rate (CTR) shows the percentage of recipients who
clicked on a link you put in your email. So it measures the
effectiveness of your email content and call-to-action. There are
several ways to improve CTR: use clear and compelling calls-to-action,
optimize email design for mobile devices, and segment your audience. The
formula to count email CTR:
Click-Through Rate (CTR) = (Total Clicks / Total Impressions) * 100 -
Conversion Rate indicates the percentage of recipients who did the
action you out in your email or page: filled out a form, registered, or
bought something. This metric measures the effectiveness of your email
content, design, and landing page. Tips to improve conversion rate are
the same for CTR: use clear CTA, and optimize a landing page for
conversions. There are three ways to count conversion rate:
1. Conversion Rate = (Total number of conversions / Total number of sessions) * 100
2. Conversion Rate = (Total number of conversions / Total number of unique visitors) * 100
3. Conversion Rate = (Total number of conversions / Total number of leads) * 100 - Bounce Rate shows the percentage of emails that were
undeliverable and returned to the sender. It measures the quality of
your email list and sender reputation. Tips to reduce bounce rate
include regularly cleaning your email list, using double opt-in to
confirm email addresses, and avoiding spam trigger words in your email
content. The formula to count bounce rate:
Bounce Rate = (Number of bounced emails / Number of emails sent) * 100 - List Growth Rate indicates the rate of new subscribers added to
your email list compared to the rate of unsubscribes and email opt-outs.
This rate measures the effectiveness of your list-building strategies. A
great option to improve this rate is to use pop-ups and other
list-building tools, offer incentives for subscribing, and promote your
email list on social media and other channels. The formula to count list
growth rate:
List Growth Rate = (Number of new subscribers – Number of unsubscribes) * 100 / Total number of email addresses on the list - Unsubscribe Rate is a clear indication of email content's
effectiveness. If the unsubscribe rate is high, your audience finds
content irrelevant or needs to be more engaging. The best way to improve
the unsubscribe rate — work on the segmentation of the audience. By
doing so, you will send out only targeted and personalized content.
Another point to consider is the various types of content available. For
example, do you know which type of content — videos, gifs,
infographics, or interactive elements — brings the best results? The
formula to count the unsubscribe rate:
Unsubscribe Rate = (Number of unsubscribes / Number of emails delivered) * 100 - Forward (Share) Rates measure the percentage of people who
forward or share your email. It shows right away how engaging and
relevant your content is. Such word-of-mouth helps reach a wider
audience and increase your brand awareness. The formula to count the
forward and share rate:
Forward (Share) Rates = (Number of emails forwarded / Number of emails delivered) x 100 - Complaint Rate indicates the number of recipients who mark your
email as spam or report it as inappropriate or useless. High complaint
rates may show that your email content could be more engaging, relevant,
and informative for your audience. Additionally, regularly checking your SPF record using an SPF record checker can help make sure your emails are less likely to end up in spam folders.To improve your campaigns,
ensure your content is well-targeted, personalized, and valuable. Use
segmentation and A/B testing to learn what content works best and
optimize accordingly. The formula to count the complaint rate:
Complaint Rate = (Number of spam complaints / Number of emails delivered) x 100 - Return on Investment (ROI) shows exactly what it says in its
name. A good ROI indicates that the money you invested in your email
campaign yields positive results. To improve ROI, optimize your email
campaign by analyzing open and click rates, segmenting the audience, and
personalizing content. Experiment with different subject lines, email
layouts, and calls to action to see what works best. This increases
revenue, generates leads, and strengthens customer relationships. The
formula to count:
ROI = (Total revenue – Total investment) * 100 / Total investment
There are way more email campaign metrics and KPIs to use in your work — mobile, open rate, opening time, and warm reply rate. We may divide them into several groups: must-haves, should-haves, could-haves, and, well, won't-haves. Check out all of them to know what exactly to track in your next campaign.
Tools to Track Email Marketing Metrics
When it comes to tracking marketing metrics, a wealth of options are available to you. You may use email service provider dashboards, which can provide detailed information on your campaigns' performance. Additionally, consider using Google Analytics, which can give you even deeper insights into how your audience interacts with your emails.
Some of the most popular tools to track email marketing metrics:
- Mailchimp
- Constant Contact
- Campaign Monitor
- AWeber
But that's not all. There are also third-party analytics tools that you can use to get a more comprehensive view of your email marketing metrics. These tools can help you identify trends and patterns that you might otherwise miss, allowing you to make more informed decisions about improving your campaigns.
Third-party analytics tools:
- Google Analytics
- Litmus
- Sendinblue
- HubSpot
Of course, choosing the right tool for your needs and budget is essential. While some tools may be more expensive than others, they may also offer features and insights that are well worth the investment. Ultimately, tracking these key metrics and using data-driven insights to adjust your email campaigns can help you to boost engagement, drive more revenue, and achieve your business goals.
Conclusion
Maximize the impact of your email campaigns with data-driven insights! By aligning the right metrics with your marketing objectives and understanding your audience's behavior and preferences, you can take your email marketing to the next level. Also, make sure to follow the top 6 marketing trends in 2023 to boost engagements, conversions, and revenue.
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