Top 5 Email Marketing KPIs to track in 2018
Have you ever had an email campaign flop? Chances are, we have all been there.
We try to find what went wrong with the emails, but so often the answers are not always obvious.
Going with your gut feeling is not the way to answer these questions.
A smart marketer will always look to data. Tracking the right email marketing metrics gives you the numbers and information to make changes. After all, you cannot comment on the success of a marketing campaign if you don’t measure how well it works.
So we put together a list email marketing KPIs. These metrics work together to help you improve everything from your email design to content to communication flow.
Here are five of the most dependable email marketing KPIs. Trust us; they work. They are proven to help marketers make more money with email.
These email marketing KPIs provide you with the most reliable data. They help you get powerful insights. They guide you to make sharpened decisions. Also, they guide you to improve your results.
If a KPI does not provide the above-listed benefits for you, don’t waste money tracking them.
Let’s discuss each of these in detail. You can track these KPIs for your next email marketing campaign and let us know their benefits in the comments section. Or you can let us know any facts or advantages that we might have missed.
Email marketing open rates measure how many recipients viewed your email. Conventional knowledge says that if an email was not opened, then your audience did not engage with the content. If recipients do not open your email, they cannot know your message or be motivated by your call to action.
Open rates vary depending on the sender and their followers. If you have a loyal following, you don’t need to have a huge email list to realize open rates as high as 5% to 10%. To start with, you can strive for a healthy open rate of 1%.
Opening an email launches the possibilities of a recipient interacting with your email and ultimately engaging with your business.
Open rates help you analyze the results. Testing different subject line titles and content can pinpoint what your audience prefers.
Here is the simplest formula to calculate open rates:
If you would like ideas for boosting your open rate, click on this link, 5 Brilliant Open Rate Boosters for Email Subject Lines.
Click through rates or CTR is the percentage of email recipients who interact with one or more links contained in an email. Tracking CTR helps you determine the performance of an individual email. It also helps you track the campaign as a whole. It gives you direct insight into how many people on your email list are engaging with your content and interested in learning more about your brand and products.
It can also be used to calculate A/B tests results similar to open rates. It is important to note that CTR also varies by the industry.
There is an ongoing conflict between the use of total clicks and unique clicks when calculating CTR. Total clicks are the total number of times an embedded link was clicked. Unique clicks are the number of subscribers clicking on the embedded links. It is necessary to observe that selecting between total clicks and unique clicks is a matter of preference. Here is the formula to calculate click through rates.
There are tons of ways to boost click through rates, but this blog lists the top seven.
As the name suggests, bounce rate is the percentage of your total emails that could not be delivered to the recipient’s inbox.
There can be three reasons behind an undelivered email:
In the first case, it is clear that the email will never be delivered to that email ID. Such email IDs need to be deleted or it may affect your reputation in the eyes of Internet Service Providers (ISPs).
In the second and third cases, chances are that your email will be delivered after the issue is solved. You can even try resending emails to such email IDs.
It is important to note that email bounce rate is altogether different from website bounce rate. Website bounce rate is the percentage of viewers who visit your website but leave without viewing other pages or performing the Call-To-Action. Where website bounce rate can be a positive metric, email bounce rate is definitely negative, and efforts must be taken to reduce it from time-to-time.
To know why bounce rate can be a positive metric, check out this article Increase Your Bounce Rate in 2018- Really!
Calculating bounce rates is as simple as calculating open rates.
Clicking through to your emails is not enough. People need to take action.
The conversion rate is the percentage of email recipients who complete the desired action after clicking on the embedded links of an email you send.
The desired action can vary from downloading an ebook, whitepaper or template to registering for a webinar or buying a product. Any recipient who performs this desired action is considered a conversion. The conversion rate signifies the success of an email campaign.
Calculating conversion rates is the most rewarding number you can get when running an email campaign. Opening an email is easy. Anything beyond that requires interest and trust. A desirable conversion rate depicts the fact that your recipients trust you. They know what you provide is useful. Use the formula mentioned below to feel rewarded.
It’s essential to calculate the revenue generated from each of your marketing efforts. It is a no-brainer that you need to know the exact revenue realized from a particular email campaign.
The overall return on investment (ROI) for your email campaigns is the total revenue divided by the total spend.
This is also a crucial metric that can determine the success of an email campaign.
If calculating conversion rates was rewarding then calculating overall ROI is the ultimate rush. This KPI gives you the revenue from an email campaign.
Running an email campaign is a challenging job. Like every other marketing activity, this one also needs to be recorded.
All the metrics covered in this article can be monitored using tracking platforms. Most automated email delivery platforms also offer tracking features. Let us know about your email marketing success stories in the comments section below. Happy emailing to you!
To know more, get our free ebook today!