Email marketing is one of the most effective marketing strategies there is. It helps you strengthen relationships with your customers while still being able to reach out and establish a connection with potential customers. The best part is that for every $1 you invest in email marketing, you can expect an average return of $42, which is an astounding 4,200% ROI.
However, to see such results, you must attract attention before you tell your story. So, how do you know if your campaigns are making an impact? Here are the top email metrics to help you gauge your email marketing success:
Email Open Rate
Your email open rate is one of the most reliable metrics when measuring your campaign’s performance. Email open rate refers to the number of people who opened the email you sent.
To calculate your email’s open rate, take the number of emails your recipients opened and divide it by the total number of emails sent then multiply by 100.
Depending on your industry, a healthy open rate tends to range between 15% to 25%.
If your open rates are too low, you can try the following tricks to boost them.
Improve your subject lines
Your subject line is the first thing your customer will see. It determines whether or not they will read your email. To be effective, your subject line must be catchy, clear, and coherent.
Time your emails
According to Mailchimp, the best time to send an email is 10:00 am on weekdays. Avoid sending emails on weekends and conduct A/B testing to determine the best time to send your emails.
Something important to note is that open rates may become more and more unreliable as time goes on, and your email marketing efforts should not rely on open rates as the north star of success.
Jordan Douglas, our Lifecycle Manager (and email marketing aficionado) explains:
“iOS 15 has new privacy protections in it, specifically in the Mail app. Their Mail Privacy Protection option stops senders from using pixels to collect information about the user. It helps users prevent senders from knowing when they open an email and hides their IP address so it can’t be linked to other online activity or be used to see their location.
In other words, targeting people based on online activity, lead scoring, and retargeting are going to get harder. It will also remove the ability to track open rates, which has a ripple effect when it comes to cleaning up your email list. That’s usually based off of open rates, which won’t be accurate anymore.”
Create top-notch content
Once you’ve timed your emails properly and used a catchy subject line, you need to keep your leads reading by giving them great content. Try personalizing your content, add some storytelling and some mixed media, and don’t forget to include an effective CTA.
High-quality email content will ensure you get steady traffic. Remember, people are more likely to open your email if they liked the last one. Don’t waste their time – provide value!
Related Reading 📚: Copy That Connects: How to Write Irresistible Marketing Emails
Once you’ve worked on ensuring your readers are opening your emails, it’s time to gauge their engagement. Your email click-through rate will help you track how well your emails are performing.
Your email click-through rate is the percentage of email recipients who clicked on a link in your email. To calculate your click-through rate, divide the number of clicks by the number of emails you sent and multiply by 100.
On average, the click-through rate for most campaigns is 4%.
Your click-through rate will help you determine which customers are genuinely interested in your brand or products. It will also show you how engaging your content is and is a great tool for maximizing your conversion rates. So, if your click-through rate is not where it should be, try the following to improve it:
Personalize your emails
To engage your audience, you must send them content that resonates with them. For instance, you will not get much engagement from a vegan if you are sending them emails full of the benefits of red meat. Only send information that your audience is interested in.
You can also take personalization a step further by addressing your audience personally. Ensure that each person reading your email feels as if you wrote the email just for them. You can achieve this by using the reader’s name on the subject line and writing as if you are having a face-to-face conversation with them.
Write engaging content
Your emails should be worth your readers’ time. They should be full of value and interesting enough that your audience looks forward to them. To make your emails more engaging, always proofread to remove errors, maintain a flow of information that is relevant to your audience, use the correct formatting and add a few GIFs.
Nail the preview text
After reading your subject line, the preview text is the next thing your reader sees. Your preview text affects your open rate as much as your subject line, so it helps to ace it.
The easiest and safest way to nail your preview text is to directly ask your reader a question. For instance, “Dear XYZ, would you like to boost your website traffic?” asking a question helps strike a conversation with your reader. It also intensifies their curiosity and makes them want to open and engage with your email.
Another metric that is key to determining the success of your email marketing campaign is your conversion rate. Your conversion rate is the number of leads that have become actual customers after reading your emails.
Conversion is the ultimate goal of any email marketing campaign. You want people to open, click-through, and engage with your content, but most importantly, you want them to become your loyal customers.
To calculate your conversion rate, divide the number of people that have converted with the total number of emails you sent and multiply by 100.
Here are some tips to help you increase your conversion rates:
Segment your email list
No matter how great your emails are, you will not see any conversion if you are targeting the wrong people. Take time to divide up your email list depending on different factors such as age and geographical location among other factors. You’ll want to do this sooner rather than later, with the new updates to privacy protections coming from iOS.
Next, create different email content for the different groups of people so you are sure you are sending the right message to the right people.
Ensure your content flows
Start your email with a catchy subject line, great preview text, engaging content, and lastly, a well-optimized CTA. This is the flow that works for most bloggers and businesses. If you mix up your content, you won’t see many conversions.
Keep it short
There is no specific email length that works for everyone. That being said, no one has time to read unending ramblings in today’s fast world. Short and sweet is your best option.
Your email bounce rate
All the metrics we have discussed so far won’t be of use to you if your emails are not reaching their intended recipients. Your email bounce rate measures how many emails are not reaching your lead’s mailbox either because the Id is inactive or fake.
To calculate your bounce rate, divide the number of bounced emails by the total number of emails sent then multiply by 100. A bounce rate of more than 2% means you need to take urgent steps such as:
Monitor your list
Go through your subscriber list and eliminate all fake-looking IDs and those with inactive domains.
You can also activate the double opt-in option so that people have to confirm before subscribing to your list. This is an excellent way of only enlisting people who are interested in your brand. It also helps you avoid adding emails from spambots.
With a/b testing, you can divide your subscribers into two groups and send each group a different email. This way, you can measure the bounce rate of each email and try to find out what caused a higher bounce rate in one group by determining what you did differently.
When measuring your bounce rates, it’s important to distinguish between a soft bounce and a hard bounce. A soft bounce happens when there is a temporary delay in sending emails. This can happen when the servers are overloaded and should not be a cause for concern. Eventually, the email will get to the recipient.
A hard bounce, on the other hand, is one where the mail comes back saying that the email ID is incorrect or the domain doesn’t exist. This is the king of bounce that you want to avoid.
Email marketing is an effective and cost-effective way of promoting your brand. However, it requires you to keep tracking and optimizing the key metrics we have discussed to increase your chances of success.
We hope that this post will help you know which metrics to focus on and how you can begin to optimize them.
What other metrics should marketers track in their emails? Share with us in the comments section!
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