Research shows that open and unsubscribe rates are the least dependable marketing metrics. Therefore, which criteria should you rely on to evaluate the effectiveness of email marketing? The list of email marketing metrics to track should offer you some helpful insights.
Now, let’s get deeper into 5 of these email performance metrics.
1. List Growth Rate
Let’s kick things off with a list growth rate. In addition to monitoring CTR and conversion rates, it’s important to track all the changes in your email list size. It is highly recommended that you focus on expanding your list to increase your reach, broaden your audience, and establish yourself as a leader in your industry.
All these things are impossible without a good-looking design for your emails. How do you create unique designs for your newsletters? It’s simple with a professional HTML email template generator like Stripo.
2. Open Rate
According to the survey by Hubspot, 31% of marketers prioritized the open rate as one of the top go-to email marketing performance metrics. For many of them, it’s as important as the clickthrough rate.
Optimizing your subject lines will maximize your open rates, which will have a positive effect.
Also, let’s not forget one thing about the open rate metric. Sometimes, it’s rather misleading. Here’s why. An email you send is only considered opened if people who receive it see the images embedded in your message. Many subscribers have various image-blocking clients built into their emails.
In other words, even if such people open your email, they will not be added to your open rate. Thus, this metric is rather inaccurate and unreliable for marketers.
3. Conversion Rate
After your subscribers click through on the newsletter you sent them, convert them to the offer. In other words, you need to persuade them to complete the desired action in response to your email request.
Why Track Email Conversion Rate?
Email marketing is a highly lucrative marketing strategy for all types of businesses. It provides a whopping average ROI of 42 USD for each dollar invested.
You need to understand which email content appeals to your readers and what they find boring. This is impossible without analyzing the number of conversions and other metrics like bounce rate, unsubscribes, and spam complaints.
With this data at hand, you are sure to enhance your communication.
Ultimately, as a marketer, you’ll be able to report on nearly every metric to demonstrate the value of the email channel to your manager. A significant increase in conversion rates indicating a good return on investment will demonstrate the impactful nature of email marketing, especially considering its cost-effectiveness compared to other digital marketing strategies.
Pro Tip
When you send an email to give out a free ebook to your audience, you will tag anyone who successfully downloads the ebook as a conversion.
We’ve discovered that the conversion rate is crucial for evaluating the success of our emails in meeting our objectives.
This is because conversion is closely related to the effectiveness of call-to-actions, or CTAs, in your emails. Thus, your CTAs need to align with your email campaign’s main objective.
Top tip from the pros: To track the conversion rates of all your emails, you’ll have to connect your email marketing platform with web analytics.
3 Ways to Increase Email Conversion Rates
So far, you will likely be hooked on the idea of improving your email conversion rates. So, how do you do this?
- Improve your email copy
- Make Your offer better
- Use CTAs more often
Don’t forget to split-test everything and evaluate what gets you a better ROI.
4. Bounce Rate on Landing Pages for Your Email Campaigns
Here’s the thing. Don’t just look at your emails only when you are making up your mind on the effectiveness of your emails and tracking email campaigns. Instead, review the bounce rate of the landing pages that your emails are directed to.
Bounce rate is useful in assessing the alignment of the message and landing page that you use for your email campaigns. If the reader is not spending much time on your landing page, you’ll want to rethink how well the content of your email and landing page match, even though the email can effectively guide them from one page to another.
5. Overall ROI
Like with any other marketing strategy, it is essential to calculate the total return on investment for your email marketing efforts. If necessary, establish a segmented analytics system for tracking email marketing campaigns. In it, you assign different values to different types of leads depending on how probable they are to bring in revenue for your company.