Email marketing is one of the most cost-effective ways to scale your business and retain and engage with prospective and existing valued customers. When email campaigns are properly managed, you can deliver high quality and relevant content to retain and engage with prospective and existing customers.
So what should you be looking out for to see if you’re doing a good job?
Email Delivery Rate – how many emails were successfully delivered to your list of subscribers?
A low delivery rate would indicate a high proportion of your emails are being bounced back and that the quality of your list of subscribers is low (i.e. incorrect email addresses).
Open Rates – how many of the email recipients opened your email?
More often than not, the reason a recipient will or won’t open your email lies in the subject line. Your open rate quantifies the success of your subject line, allowing you to test and compare different subject lines across email campaigns.
Click-Through Rates (CTR)– how many of your recipients clicked your call to action after opening the email?
A high CTR helps you measure the success and quality of your content and call to action (CTA). If you have a low click-through rate, your subscribers aren’t engaged with your content and your CTAs are not enticing them to learn more. A high CTR shows you that your email marketing strategy is working and you’re engaging your subscribers.
Return On Investment (ROI) – how much overall revenue was generated from your campaign?
From an eCommerce point of view, this is pretty straightforward, your ROI quantifies if your marketing efforts are profitable. This also provides a metric you can compare not only across all your email campaigns but other marketing channels too.
Subscriber Retention – have any recipients unsubscribed after receiving your email?
Email marketing lists are an invaluable tool for every marketeer, enabling you to reach a larger audience and stay relevant in your industry. If your subscriber retention is low, then that could indicate that something is wrong with your content or the frequency of your emails. Try to identify the reason why your list is unsubscribing and take steps to rectify them.
So now you know what you need to track, but you’re not sure how. Most email campaign tools will have dashboards to help you assess your data. However, sometimes you just can’t beat a good old-fashioned spreadsheet to track, measure and compare the success of each campaign you send!
By tracking your KPIs you can see what is working well with your audience and start to build an invaluable wealth of data to help guide you and steer your email campaign strategy moving forwards. And don’t be afraid to try new things to see if a new approach helps improve your ability to connect and engage with your subscribers. The more data the better informed you’ll be about what does and doesn’t work!
If you or your company are looking to boost your marketing strategy by incorporating email marketing or would like to draw on MIRA Marketing’s wealth of experience; email us at [email protected] or click the button below: