Knowing how efficient a campaign is depends on the KPIs you’re tracking, as email marketing remains one of the most influential media for delivering content to clients. The data you collect lets you fine-tune your plan to meet your clients’ most recent expectations.
What are KPIs?
KPIs, or key performance indicators, are indicators of how well certain components of an email campaign are performing. Tracking email KPIs can provide you with a variety of useful information. Most importantly, you’ll want to know who opens or forwards your marketing emails to other people. These types of measurements, on their own, will not reveal the effectiveness of your whole approach.
To determine a campaign’s effectiveness, you’ll want to establish trends among your subscribers and change your technique to stay ahead of the curve. Unsubscribe, click-through, and bounce rates are crucial email analytics that can immediately reveal whether or not a campaign is having the desired effect.
Email Marketing Metrics
- Email Open Rate
It is one of the crucial email metrics shedding light on how the email subject lines perform. If the open rates of emails are high, it concludes that the results of a subject line are spam-free words. The open rate refers to the percentage of people who opened emails. It gives insights into the email list quality as well as helps in learning which email subject lines are best because subject lines are vital and compel customers by providing clues about the email description, enticing them to open it, and helping them to analyze whether the content is going to be of their interests.
- Click-Through Rate ( CTR )
CTR refers to the measurement defining the percentage of people who clicked on the attached link in the email. If your links are a bridge, CTR can be considered the percentage of those crossing the bridge to where you want your customers to go. Click-through rates are similar to response rates, which are essential engagement indicators. You’d like to know that your emails aren’t useless.
CTR is also an excellent technique to assess the success of your content.
If many people click on your links, you send them content they’re interested in. If your CTR is poor, you can send emails to individuals when they don’t need them, to people who don’t want them, or to people containing information about your company that isn’t very relevant to them.
The percentage of people who take the exact action you want them to take after reading your email is known as your conversion rate. It’s a little more complicated than the open rate and click-through rate, but it’s one of your company’s most essential email marketing indicators.
What constitutes a “conversion” in the context of an email depends on your company’s objectives. If you want to get more reviews for your website, a recipient’s action of leaving a review counts as a conversion. When consumers click the “purchase” button on your website, their action becomes a conversion if you want them to buy your program or online course.
- Bounce Rate
The bounce rate of an email campaign indicates how many email addresses did not get it. Bounces can occur due to several factors. Due to spam complaints, poor deliverability and sender reputation, flagged email content, a full inbox, and other factors, the email address needs to be corrected.
You must consider two sorts of bounces when calculating your bounce rate:
Emails that were not delivered due to transitory difficulties are known as soft bounces (full inbox).
Emails that cannot be delivered due to persistent problems are called “hard bounces” (wrong email address).
- Email Return on Investment
In general, return on investment (ROI) is an email metric used to determine the profitability of your marketing approach overall. Similarly, your email return on investment, which is commonly expressed as $X for every $1 spent on it, might show the success of your email marketing activities.
Email ROI now accounts for $42 for every dollar invested, which is more than adequate for growing companies.
Calculating your email ROI might be difficult because you must first determine how much money you made and spent on email marketing:
1.Money spent
This typically comprises the cost of email marketing tools such as your email service provider (ESP), your marketing team, consultants, and agencies.
2. Profit
This is the amount of money you made from your email marketing. You can track email profit using Google Analytics or your email service provider’s reporting and analytics options.
How valuable is your bounce rate?
Imagine throwing a party, but most invitations never reach your guests.
That’s the essence of the bounce rate in email marketing. It reflects the percentage of emails undelivered due to recipient server issues.
- Bounced Emails: These are emails rejected by the recipient’s server and never reach their inbox.
- Soft Bounces: Temporary issues like full mailboxes cause these. They often resolve automatically on retry.
- Hard Bounces: Permanent problems like invalid or non-existent addresses lead to hard bounces.
Why is this important? A high bounce rate signifies:
- Delivery Issues: Many subscribers must receive your emails, hindering your campaign’s reach and effectiveness.
- List Hygiene Concerns: A high bounce rate suggests a subscriber list containing incorrect or outdated addresses.
Combating Bounce:
- Double Opt-In: This verification process requires subscribers to confirm their email address by clicking a link in a confirmation email. This helps eliminate typos and fake addresses.
Addressing bounce rates ensures your emails reach their intended recipients, maximizing campaign success.
Why Email Sharing and Forwarding Rates Are Valuable?
Have you ever wondered how many people spread your message further?
The email forward/share rate tracks how often recipients hit the “forward” or “share” buttons to send your content to others. This metric is crucial because it indicates:
Brand Advocacy: People who share your emails find the content valuable and are willing to recommend it to their network. This can attract potential customers who trust their peers’ recommendations.
Content Engagement: A high share rate suggests your content resonates with your audience. This helps you understand what topics and formats spark their interest, allowing you to tailor future campaigns for better engagement.
In simpler terms, shares and forwards act like virtual word-of-mouth marketing, expanding your reach beyond your initial recipients and potentially generating new leads for your business.
How valuable is your unsubscribe rate?
Not everyone enjoys every email.
The unsubscribe rate tells you the percentage of subscribers who opted out of your mailing list. While this might seem negative, it offers valuable insights:
- Understanding Preferences: Unsubscribes can reveal aspects of your emails that aren’t resonating with your audience. This could be the sending frequency, content type (e.g., overly promotional), or the types of offers presented.
- List Hygiene: You can maintain a healthy list by identifying uninterested subscribers. This ensures your messages reach individuals genuinely interested in your brand, improving overall engagement and campaign effectiveness.
Think of it as a chance to refine your audience. By analyzing unsubscribe data, you can tailor your email strategy to better cater to the preferences of those who remain engaged. This lets you focus on sending relevant content to a more receptive audience.
