Email is one of the most important tools to market your products / services on the web from time to time. Also, email marketing is the #1 way to increase your influence and build a relationship with your target audience.
Regardless of your business or the type of products / services you sell; you can always use email to bump up those sales numbers. Until you indulge in any questionable tactics, email marketing can work for you. In a short time, it can help you take your business to the next level.
So, before you send your next email, stop for a couple of minutes and ask yourself:
- What is my email marketing goal?
- Is my subscriber database growing?
- Make more leads?
- More existing leads can be converted into customers?
Whatever your goal is (and you can have more than one), the next thing you need to do is figure out what metrics you need to track to determine how you’re moving towards that goal.
According to a study conducted by MarketingSherpa, a staggering 60% of marketers have experienced a positive return on investment with email marketing.
So, what’s stopping you? If they can, why can’t you?
- Email Delivery Rate
This metric is just how many emails are sent vs. how many emails are delivered.
This highlights the quality of your email address list and how effectively your email addresses were accrued in the first place.
There is no doubt that having a large email list of prospects / customers for your business is always great. Because you can reach them at a fraction of the cost whenever you want.
There’s one catch though: emailing a huge mailing list doesn’t necessarily mean delivering all of your emails. Although you should always try to deliver your email to most of your list, you simply can not pursue a delivery rate of 100 percent.
One reason is that more often than you think emails are dumped or changed. So, if your delivery rate is 75%, it means that the remaining 25% of emails are unattainable or do not exist.
- Open Rate
Do all of your email subscribers open all of your emails? The obvious answer to that question is no. Your open rate refers to the number of recipients opening your email.
Because it shows how many people are interested in opening and reading your emails, keeping track of it is one of the most important email marketing KPIs.
Having a good open rate can mean three things:
- you’ve written a great subject line that has attracted a significant percentage of your email recipients— without getting lost in their crowded inbox.
- You’ve built a great relationship with your subscribers already and they know you well enough.
- For most of your recipients, you have succeeded in dodging the spam folder because a low open rate can sometimes (not always) show that a high percentage of your emails are sent to the junk folder.
- Click-Through Rate (CTR)
Click-Through rate (CTR) is probably your first answer when you ask an email marketer what metrics they are tracking. It’s what I like to call the “daily” email marketing metric, because it allows you to calculate performance easily for every single email you send. You can track how your CTR will change over time from there.
Divide the number of clicks on links in your emails by the number of emails delivered, then by 100 times and you have a percentage of click-through rate. If it’s high, your content works and you’ve got strong calls-to-action.
As these tests are often designed with the intention of finding new ways to get more clicks in your emails, CTR is also often used to determine the results of A / B tests. For all email marketers to be tracking, click-through rate is a very important metric, as it gives you direct insight into how many people on your list engage with your content and are interested in learning more about your brand or offer.
- Subscriber List Growth Rate
If your focus is to grow the top of your funnel— attract more visitors to your site, sign up more blog subscribers, get more people to use your free tools. For that kind of thing— your goal is likely “to grow your subscriber list”.
Your emails will probably contain calls-to-action such as “Subscribe to Our Blog” or “Join Our Weekly Email List.” So, of course, your subscriber list’s growth rate is the most important metric you should track for this purpose.
For example, here is the subscriber growth rate of Hubspot. Have a look.
- Bounce Rate
Bounce rate is the percentage of total emails sent to the recipient that were not delivered. That’s how you calculate this…
Bounce rate helps you to evaluate your email’s deliverability closely.
Having a higher bounce rate means that either…
- the email client The email message If you don’t keep an eye on the bounce rate,
- you’d miss out on your email marketing campaign’s actual numbers.
If you haven’t yet added it to your “must track” KPIs.
There are 2 types of bounces.
- Soft Bounces
Soft bounces occur mainly due to short-term, superficial issues that are resolved in due course. For example, an email sent to a valid email address may bounce back because the inbox was full or with their server there was some technical problem.
Although the recipient’s server will hold and deliver the emails later in some cases, re-sending soft bounced emails is always a good idea. You don’t want to miss them because these are good email addresses.
- Hard Bounces
On the other hand, hard bounces occur due to an invalid or inexistent email address. There is no chance that emails will be delivered to such addresses, which essentially kills them. The reason for a bad email address could vary from your end from a job change to a typo.
Every owner of the email list needs to regularly clean up their list of bad email addresses. If you experience a high bounce rate, it just means you don’t care about your list.
Hard bounce email addresses might seem harmless, but they don’t. You should not waste time removing hard bounce email addresses from your list primarily because it affects your ISP reputation. Even if you’re not a spammer, if you get high bounce rates, you’ll look like one in your ISP’s eyes.
Last but not least, our objective today was to give you as much in-depth explanation as we could about email marketing KPIs. Hopefully you’ve taken away something.
We love to help small business owners like you, so if you want to go one step further with your email marketing efforts, that’s what we’re here for. Call us 01777-770507 or contact us today to discuss how we can grow your list, open rates and conversions with ADN Email!