Email Marketing is one of the oldest forms of digital marketing. When it comes to digital marketing, the landscape changes at a rapid pace and it uses a lot of advanced technologies and email marketing tools to enhance its outreach. In such a situation, you may tend to use these technologies ignoring the traditional email marketing approach.
However, you should not because email marketing, even in this digital era, offers a lot of significant benefits. It can offer a high ROI up to 2 to 4 times, according to a report by Statista. However, email marketing can provide you with a good return on investment with a good list growth rate.
In this blog, we will discuss the top 6 useful metrics of email marketing to track conversions & ROI of your Business.
Email Marketing Metrics
1. Open Rate:
If you want to make the best use of this email marketing platform, you must understand it and its pulse. You can do this by focusing on the following 6 major email marketing metrics. This will help you optimize your email lists, and marketing efforts and ensure success.
The most important metric to focus on is the open rate like the delivery rate. In simple words, this refers to the metric that involves the number of receivers or percentage of people reading the emails.
However, looking at it closely will provide you with valuable insights regarding the emails’ effectiveness concerning the sender’s name and the email subject line.
These insights will help you refine the email text and Email content as necessary to ensure a higher engagement among the percentage of people. It will also help you identify and assess your email marketing strategies, delivery rate, targeting results, and segmentation success.
Most importantly, emails with a high open rate indicate how relevant and compelling the emails are.
2. Click-Through Rate (CTR):
This is one of the important Email marketing metrics that you must consider while analyzing its effects and success.
The most important insight you may gain from such email metrics is about the ability of the emails to drive more users and compel them to perform the action you want through the email campaign.
In addition, you can use the assessment result to find out the number of email recipients clicking at least one of the links in your emails. Knowing this specific percentage of recipients will allow you to find out the relevance of the links which will affect the list growth rate.
You will also get adequate help in identifying the effectiveness of the Call to Action and even finding the proper placement requirements of the CTA element.
Overall, CTR will help you analyze the impact of the different elements of email marketing campaigns and optimize the design and type of content of the emails to ensure higher engagement and list growth rate.
3. Conversion Rate:
Conversion rate is another important Email marketing metric to focus on. This metric tells you the percentage of receivers performing the actions you want and determines the effectiveness of your emails in driving such outcomes.
You can assess the alignment if it is relevant content, and the ROI of your email marketing campaign relative to its objectives, conversion rate, and sales impact, and subscriber list.
4. Bounce Rate
This is the rate that indicates non-deliverance of emails. An email provider considers two types of bounce rates: hard (0.11%) and soft (0.71%) bounces. The former indicates permanent issues related to email addresses, while Soft bounces indicate temporary ones.
Emails with a high bounce rate may affect the credibility and reputation of the business. The email service provider may consider them as spam. It will end up in a SPAM folder.
So, you must monitor it to ensure a better subscriber email list. In simple words, people will hit less on the unsubscribe link.
5. List Growth Rate
This metric indicates the expansion of future emails, effectiveness in lead generation, and the effectiveness of procurement strategies.
So, you must focus on the incentives to offer and the Double opt-in procedures to ensure the sustainability of the subscriber list. This will reduce spam complaints.
6. Sharing/Forwarding Rate:
Finally, the sharing or forwarding rate helps determine audience encouragement and virality. If it is high, it indicates that your email campaign is more organic, valuable, informative, and sharable.
When you focus on these specific metrics, it will be easy for you to survive and sustain in the dynamic and competitive landscape of digital marketing. This will eventually guide your business and brand toward a better ROI and higher engagement from the users.
Conclusion
In conclusion, it is hard to ignore email marketing today. According to a recent benchmark report published by DMA, about 64% of small businesses today think that email marketing is an indispensable tool for their success and growth.
The different metrics allow email marketers to develop their marketing strategies to ensure the growth of their business and pave their success path with successful email marketing campaigns with lower email bounce rates.
So, focus on these top 6 metrics to refine your email marketing efforts and empower your business to establish convincing and long-lasting connections with your customers.
