Email marketing is one of those most inexpensive and effective marketing strategies if done properly. It is essential that an email marketer measure metrics to assess and develop a campaign strategy. Here are top metrics every email marketer needs to track to maximize marketing reach and increase revenue.
Open rate focuses on the most basic principle of email marketing. How many people who receive the email actually open it? If people are glancing over or immediately deleting it, your marketing isn’t as effective as it could be. You need people to open your email to get them hooked. The average open rate for email marketing is about 25%. If you discover you have a low open rate, you can strategize ways to tempt your customers into opening your email.
Click Through Rate
The click-through rate of your emails details how many people are engaging with your content. You want people to open and participate with the email. For example, an email advertising a carpet cleaning business could say “Click on the link below to get 15% off your first carpet cleaning!”. This enticing type of statement forces users to engage with your content, giving you a higher click through rate. You can calculate this rate by dividing the amount of clicks you get by the number of email you sent. This metric is why you want to draw the customer into clicking on a link or image. Encourage people to learn more about your product or business. The click-through rate is crucial because it represents how strongly your email appeals to your audience.
Tracking your bounce rate will show how many emails you send that are not even reaching your target audience. This can be tracked by using email marketing software. Using the reports, you want to achieve a low bounce rate to maximize your resources. It’s important to distinguish between hard bounces and soft bounces. Soft bounces can occur because of temporary problems and can be resolved. Hard bounces happen when you attempt to contact invalid email addresses and often are permanent problems. Following your email bounce rate can help you focus marketing on productive sources.
Like bounce rate, opt-out rate will help you see just how effective your marketing tactics are. A large number of unsubscribes can indicate a low quality email marketing. People may tempted to disengage for many reasons. It is recommended to send one email per day at maximum to keep this number at a minimum. Another way to do this is to keep track of your spam score. If your email has a high spam score, it is more likely that readers will hit the “unsubscribe” button. Additionally, a low-quality website or a lack of compatibility with major e-commerce retailers can affect your opt-out rate. If a customer sees your email and looks up your service or product online, they should be able to quickly and easily purchase your product. For this reason, it is also important that you are optimizing Amazon products for increased sales and lower opt-out rates.
Return On Investment
Assuming the goal of your email marketing is to make a profit, you want to be sure to track your return on investment. It’s great if you have a high open and click-through rate. However, without a strong ROI those numbers often aren’t sustainable. Your campaigns should be profitable. If you’re not seeing a high profit, the good news is that email marketing has the potential to generate a massive amount of revenue over time. Tracking ROI in conjunction with these other metrics will help you narrow down areas for improvement.
Email marketing can be one of the most valuable digital marketing methods, especially for models like dropshipping businesses that require relatively inexpensive marketing strategies. Exploring open rates can give you feedback on how intriguing your campaign is. Calculating click-through rates will show attractive your images and links are. Bounce and opt-rates are great ways to track your marketing progress. The return on investment is the ultimate metric for determining how strong your email marketing strategy is. These metrics represent the best methods for an email marketer to track progress.