Knowing the key performance indicators during email marketing is a crucial step you can take to improve your ROI. However, most marketers fail to realize the full potential of email marketing because they are not keen on core performance metrics.
Although there are various factors to succeed with email marketing, the main metrics you should consider are bounce rates, open rate, click-through rates, conversion rate, and social sharing rate.
Here, you will find out what each metric contains. You will then learn the mistakes that could be costing your email marketing success with the factors.
Finally, you will know what you can do to perfect the relevance of each of the above factors. Let’s take a deep dive below.
Understand Email Metrics
Before understanding factors to consider in email marketing, it would help to learn what email metrics entail.
Email metrics are data you can focus on to succeed with your email campaigns. The statistics include writing subject lines, drafting the main body, and call-to-action.
After writing the email, you need to send it to your target audience. Through a Benchmark email tool with drag-and-drop email builder, you can track how the audience interacts with your content. Here are examples of the metrics.
Bounce rate is the number of emails that fail to reach the target audience. They are divided into permanent and temporary bounce emails.
Mostly, the emails return to you in the form of email redirects or missing email addresses. The primary cause of bounce rates is failing to conduct adequate research on the email destination.
Another reason could be deliverability. Deliverability includes monitoring the number of emails that your target audience is authorized to receive.
The subscriber can explicitly set the specific amount of email receipts. Alternatively, the email server may fail to accommodate a certain quantity or origin of emails.
So, how do you minimize bounce rate?
The first thing you should do is introduce double opt-ins. Here, you only add a subscriber to your mailing list upon confirming that they can receive your emails regularly.
Other times, the email may not bounce but fails to be effective on the prospect’s end. That may be due to factors like server overloading.
For instance, your emails could end in spam. The recipient may cancel the subscriptions or even block your address.
To reduce unsubscriptions, consider the recipient’s traits and reactions to your email. For instance, what content do they prioritize? How frequently do you send them emails?
Then, you can take appropriate action. For example, you could reduce emails you send to them and see whether the unsubscriptions reduce with time.
Open rate is the number of recipients of prospects who access your email to read it compared to the total emails you send.
Research shows that a recommendable open rate is between 23% and 26%. That means your email marketing is effective. Otherwise, you can determine why fewer prospects open your emails.
You can redesign your email subject lines. For instance, does the title and the email subheadings entice the reader to take a look at the content.
Besides, you could change the delivery time according to your target customer schedules. For example, most office workers clear a chunk of pending emails by late morning. Then, they are likely to pay attention to new emails.
Since that data may change with the target customer, you should understand what makes your audience read your email.
Assume the target audience has opened your email. Does the audience follow the links to your shop?
If not, you can reconsider segmenting your emails depending on your subscriber interests, demography, and location.
Additionally, you can consider redesigning your links to improve their visibility. You can bold them, position them in a strategic position, and balance their distribution within the email.
Now, the prospect has opened your email, read it, and clicked your links. What next?
They should buy the product, register for the webinar, or take other desired CTAs. That is where the conversion rate comes in. It helps to project your return on investment.
The last and most crucial metrics entail social sharing or email forwarding. The reader becomes your unpaid marketer by sharing the content through the social media buttons attached to your email.
With the advancement in technology, you can comfortably determine your email marketing success by forecasting its effectiveness.
Some of the metrics to be keen on are bounce rate, open rate CTR, ROI, and social sharing.