Welcome back, folks! I feel analysing your metrics is as important as knowing what you want in life and how far you have come. So stop and ask yourself “What exactly am I trying to achieve through email marketing?” (Personal experience: I was thinking about the answer all day!)
Email marketing is a whole new ball game, there are many different metrics to measure and consider when analysing your progress. In order to assess your progress, you need to set a goal for your email marketing strategy. Are you focusing on increasing conversions? or want people to open the email at least? or something entirely new and different?
Once your goals are set, you can start laying out each and every metric that you want to pay attention to. Let’s take a detailed look at what metrics you should consider to determine your success.
The open rate is defined as the percentage of email recipients who have opened your email. It isn’t as simple as just “opening” the email, as there is no way to track that particular action. However, pros include a invisible a pixel that tracks this metric.
Having an exciting subject line is a great way to increase your open rate. Including the recipient’s name will add a more personal touch and will make the recipient open it as it is directed to them.
Reports suggest that, Emails with personalised subject are 26% more likely to be opened than those without personalisation.
Click-through Rate (CTR)
The CTR stands for click-through rate. A metric that tracks the percentage of recipients who have clicked through a link within the email.
Assessing the CTR of an email helps us understand the effectiveness of the email. Higher click rate will show that the recipient took interest in the email.
The CTR is a great indicator of how engaging and interactive your email is. You can track exactly what your audience is clicking on. If your recipients are clicking through your emails, it’s mostly because they are enjoying the content that’s being sent.
The best ways to improve your CTR is through A/B testing. You can experiment with various forms of copy and design and see what’s working for you the best. Spot trends and preferences that your audience is choosing. This will help you optimise your content.
The bounce rate refers to the percentage of emails that have not reached the recipients’ inbox successfully. The bounce rate can then be split into two broad categories: Hard Bounce and Soft Bounce.
A soft bounce is an email that could not be delivered due to temporary reasons like the recipient’s inbox being full or you are trying to send emails that contains files that are too large.
A hard bounce is an email that could not be delivered because of permanent reasons. For example, the email address that you are sending is fake, no longer in use or incorrect domain name or a server issue. Essentially, if you ever experience a hard bounce the recipient must be removed from your email list.
Making your subscribers engage with your call to action is the ultimate goal of email marketing. The way to track this is through your conversion rate. The conversion rate refers to the number of recipients who have clicked on a link in an email and then acted on a specific task. For example, the call to action of your email was to purchase a certain product and the consumer clicked on that link purchased it.
The conversion rate is a crucial metric to measure when checking if you are achieving your goals. If you are seeing a dip in your conversion rates, then there should be a certain changes that you need to make in your email marketing strategy to increase these numbers.
Few things like improving readability, having a kickass subject line, using correct colours and a UI/U based email can seriously increase your conversion rate. This will help your subscribers have great clarity about what you want from them. Proper navigation and smooth readability is really important.
So, there you have it! A super quick and easy guide to which metric you should keep a keen eye on while measuring your email marketing success.