In the ever-changing landscape of the World Wide Web, email is one of the first and most important tools given to us by the internet. Today, email remains one of the most powerful marketing tools at your company’s disposal. But only if you use it correctly. So, the important question is “How do I know my email marketing is successful? And what can I do to make it better?”Email remains one of the most powerful marketing tools at your company’s disposal. Click To Tweet
Email Engagement Metrics to Track
The first step is knowing what email marketing data points to track and which ones to ignore. If you’re looking to craft a successful email marketing strategy, here are a few data points to look out for:
- How many people are opening your emails?
- What percentage of emails remain unopened?
- How many people took action after they opened the email?
- How many people marked the email as spam?
- What percentage of the emails bounced back?
- How many subscribers turned into customers?
Pay attention to your open rate
“Open rate” describes to the total number of emails people opened. While it doesn’t mean each of these readers became a customer, it does indicate interest in the topic of your email or your brand – two important factors that contribute to the success of your email campaign.
How many people didn’t open the email – and why?
Additionally, you should pay close attention to the number of emails that remain unopened. By tracking more granular metrics, like bounce rate and spam rate, you can identify roughly how many people didn’t open the email because they were disinterested.
Identify readers who took action
For most email marketing campaigns, a reader “takes action” when he / she clicks on a link in the body of the email. The percentage of people who do this is your CTR (Click Through Rate), and is one of the most commonly cited advertising metrics in the marketing world.
When you look at the clicks as a percentage of the opens (CTO or Click To Open) you are looking one level deeper and can see if the content itself was interesting enough to persuade people to click through.
How many people thought the email was spam?
As hard as it is to admit, some people on your email list are disinterested to the point of describing the incoming marketing content as “spam.” While some readers will always react to marketing content this way, it’s important to make every effort to keep this data point low.
If an increasing number of people sent your message to their “junk” folder, consider the following:
- Make sure the content in your email is useful and engaging.
- Focus on catering to your readers, not pressuring them with a sales pitch.
- Ensure that everyone who receives your emails intended to sign up for them. This means absolute clarity in your opt-in process.
Actually, there are a lot of things that can tank (or boost) your deliverability. Email software provider Moosend created this periodic table of email deliverability. So its part Reputation, Authentication and Infrastructure. But also the content and other factors can play a big role.
Customer Lifetime Value
One thing easily overlooked is the additional value that email marketing contributes to your overall business. A good start is to look at the value (sales, revenue, or brand value) of individual campaigns. One level higher, you also would like to track the value that individual represents over their lifetime. You can calculate email life time value by taking the profits of your campaigns and dividing it by the active subscribers and their average time they will be on your email list.
Watch your bounce rate
An email “bounces” when it is undeliverable. This could be caused by a variety of factors, such as incorrect email addresses, fake email addresses, or more technical issues like server errors. Regardless, your campaign is a waste of time if the messages never reach viewers, so keep a close eye on the percentage that bounce.
The most important metric is your conversion rate
A conversion happens when an email subscriber turns into a customer. Just like a Facebook advertising campaign, your email marketing campaign is successful if it leads to conversions. While this is arguably the clearest reflection of the success of your campaign, it won’t do much good without the support of each metric described above.Your #emailmarketing campaign is successful if it leads to #conversions. Click To Tweet
Taking the next step: Tracking your email marketing data and implementing change
Now that you have a clear understanding of how to measure your email marketing campaign’s effectiveness, it’s time to create a strategy. With iDashboards data visualization technology, you can organize raw information – like click through rates and conversions–into useful, easy-to-read information.
Wondering how you can make your email campaigns even better? Contact iDashboards now to start your free trial for stronger, better marketing campaigns.