Email marketing is one of the best marketing techniques in today's time. However, it needs the best practices in mind to ace the final field of success. If you are willing to donate your time to practice for good, then it is better to use it in creating campaigns, getting control of the small rookie mistakes you make, and optimizing emails to expand working engagement. These are of course the basic steps but also paramount. However, these are not the only strategies that will lead you to success. In this article, we will go through some of the most important metrics that matter in measuring the success of your email marketing strategy.
However, before you dig too deep into learning the metrics for successful email marketing, you must pen down your goals in this field. Also the first step toward having an idea about your goals and dreams is to know what exactly 'Email marketing' is.
- Conversion Rate
- Click-Through Rate (CTR)
- Bounce Rate
- The Return on Investment (ROI)
- Open Rate
- Spam Complaint
- Unique Click Rate
- Domain Open Rate
- Engagement Rate
- Unsubscribe Rate
What is Email Marketing?
Technically, it is an act of sending official information or messages to a concerned team of workers or an individual via email. However, most of the messages are commercial and in this context, for every email you sent to a customer, the whole act becomes a part of email marketing. In simple terms, emails sent for a commercial purpose are considered the act of email marketing.
Furthermore, email marketing involves sending requests for business, advertisements, soliciting donations, sales divisions, and more. However, the regular change of metrics has no impact on the basic three strategies you need to know before stepping into the world of email marketing that are- trust, loyalty, and brand awareness. These three are probably the most basic foundation to enhance the relationship between a merchant and its customers.
Most Important Email Marketing Metrics
The metrics used in email marketing keep on changing from time to time. So it is always better to stay up-to-date with the marketing policies, and trends, and then pen down the strategies for one's business. The following are some of the most important metrics of email marketing:
The first metric on the list is conversion rate. This rate refers to the percentage of people who not only opened your email but also performed the desired action. This is considered as the most important amongst all as this metric is what really defines the ultimate goal of any email marketing campaign. It is usually suggested that a conversion rate should stay above 2% in order to ensure the effectiveness of a campaign.
Click-Through Rate (CTR)
Every time you are sending an email to your subscribed customers, try to insert CTR to link them with the concerned website with just a touch. The easier you make it for the customers to visit your main page, the higher traffic you will receive within a few days. Moreover, CTR is a very common type of metric that measures customer traffic to your site or the number of people who clicked on the links that are present in your email list. Therefore, if your goal is to expand the effects of your email marketing across the world, it’s time to boost your CTR. Moreover, it is always better to add attractive one-liners under or above the links to convince the customers to visit the link.
Do you know what is the most common nightmare in the case of email marketing? When you send an email to your customers and it doesn't get delivered. Well, this might be due to casualties from your side or a technical glitch. But this is something you should keep a check on whenever you send a business email. You must be wondering how is this possible, well that is what bounce rates are for! Generally, it keeps a count of how many applied email addresses did not receive your email.
If your email contains hard bounces then it may imply that your email is full of spam stuff. So, when the bounce rate is low, it means that your emails are of good quality and when the bounce rate is high, that indicates poor quality emails. Therefore, bounce rate is one of the most important email marketing metric.
The Return on Investment (ROI)
Spending efforts on those subscribed customers who are of no benefit to your finance must be eliminated. Stop wasting your money on ineffective campaigns that bring no good to your business. So here comes another important metric for email marketing. This metric is extremely important as it helps you to know the returns you are getting on your campaign investment. Also focus on other metrics like web traffic, clicks, and conversions as it plays a very important role in tracking the ROI of a concerned email.
Whenever you are searching for the best metrics to make your email marketing reach to the best heights, your open rate is what you must focus on. The email open rate is widely influenced by subject line performance. Just remember that if your email campaigns have high open rates then it implies spam-proof content. Make your products and advertisements more appealing so that it brings home benefits after the first launch. You must be thinking that how to calculate the email open rate. Well, you can do this with the help of the formula- Divide the number of emails read by the total number of emails sent. And then multiply the resultant by 100 and here you get the answer!
Replay your mind through the spam folder while you are calculating the email metrics. You must know that the customers have the authority to report your email as soon as they find something weird or suspicious. Spam attacks are quite common in emails. Therefore, you must keep a note of spam complaints. Also, keep in mind that if you get a spam-compliant rate of 0.01% then it is quite good whereas 0.05% is wrong for your business. To calculate this, you can use the formula- Divide the number of complaints you received by the total number of emails sent. The number you get, multiply it by 100 and you have got your answer.
Unique Click Rate
There are a lot of email metrics which include click rates from various sections and a unique click rate is one of them. the total number of unique recipient email clicks divided by the number of emails delivered in the campaign is what the unique click rate defines. For example, suppose you have sent three links in an email to someone. If the person clicks on all three then he scores you three clicks with one unique click. Moreover, a higher unique click rate implies to clear CTR which is good.
Domain Open Rate
This type of rate ensures the number of people who showed interest in your emails under a particular email provider. This metric is super useful as it will help you to any issues happening due to any domain’s spam filter. Therefore, all you have to do is to calculate the average click rate among the providers and then compare it with other individual providers and that is how this Domain Click Rate works.
Another important metric in email marketing is the engagement rate. This means tracking when and how much does your customers engage with your email marketing campaign. This enables you to know the time and days when your emails are receiving a maximum reaction from your customers. Therefore, it will help you to know the right time to send the right emails to the right people.
When you are running a campaign, of course, you don't want the people to unsubscribe from your marketing campaign in the middle. The number of unsubscribes is a huge element of weakness and also a motivation. Well, a higher rate of unsubscribes has always been a turn-off. On the positive side, this makes a good impression on customers about your brand as you are giving the customers the opportunity to subscribe to or unsubscribe to the emails of their own choice.
This email marketing strategy convinces your customers to have faith in your marketing strategy and the way you treat them. It is an extremely important metric of email marketing that you can check easily on your metrics dashboard.
Therefore the above-mentioned are the top email marketing metrics every email marketer focus on to get success. All these can bring a huge positive change to your metrics dashboard. Email marketing does hold a lot of power in bringing change in the technical world. Therefore you need to memorize and work on the best metrics or strategies to manage your email marketing.
What is email marketing?
Email marketing is a marketing technique in which emails are sent for commercial purposes to target specific customers.
What is the most important metrics in email marketing?
The following are the most important metrics in email marketing:
- Conversion Rate
- Open Rate
- Click-through Rate
- Bounce Rate
- Number of Unsubscribes
- Domain Open Rate
What is the most common marketing metric?
The most common and important marketing metric is Return on Investment (ROI). This is the most common as it ultimately determines the success and failure of the efforts one is putting into their marketing strategies.