(Newswire.net — March 25, 2021) — Email marketing this and email marketing that. There’s a reason why email marketing became a buzzword starting in 2016 and onwards. In one word: effectiveness.
With 31% of B2B marketers saying that email newsletters are the best methods they’ve found to nurture leads, add on 59% of them saying that their email marketing is their highest ROI, and you get one field of marketing strategy that can truly boost your bottom line profits.
Yet, what indicators that you need to know that would tell you whether your email marketing strategy is flourishing or flopping? If you have no idea about those essential metrics, no worries. You’ve come to the right place. Keep on reading for our top email marketing metrics, and what they can tell you about your email campaign performance.
Email Marketing Metrics 101: Open Rate
We can’t talk about email marketing metrics and fail to mention the crowned jewel of them all: the open rate.
In the simplest of terms, the open rate is the number that tracks how many subscribers have actually opened the email you’ve sent. Generally speaking, the open rates gives you insight into how successful your subject line copy actually is. After all, that’s the thing that subscribers see and then decide whether they will open your newsletter or not.
The Click-Through Rate (CTR)
Your CTR tells you how many people clicked on the links and attachments that you’ve included in your email.
For instance, if you’ve added a link to redeem an offer that you have, your CTR would measure the percentage of subscribers that clicked on that link.
However, you’ll want to keep in mind that your CTR tends to be lower than your open rates. Your CTR can only be applied to those subscribers who have opened the email in the first place.
The Conversion Rate
After figuring out how many people are opening your emails and clicking on your links, it’s time to figure out how many subscribers have actually completed a specific action.
That specific action can be finalizing a sale, signing up for new product information, whatever the end goal you’d like to have is the “conversion” action.
It’s a great way to nail down your return-on-investment (ROI). Depending on your conversion rates, you can make a well-educated decision on whether the money you’re putting into your email campaign is paying off or not. Also, you’ll want to ensure that your email list segmentation is flawless. For more info, check this article.
The Bounce Rate
This rate measures who many subscriber email addresses didn’t actually receive your email.
It gives you a solid idea about the quality of your subscriber lists. Therefore, if you have a large percentage of hard bounces, this means that your list might have many fake email addresses, addresses with spelling mistakes, or even old inactive addresses.
Deciphering the Performance of Email Marketing
We completely understand why beginner marketers would rather drown themselves in a million statistics and analytics just to figure out whether their strategies are actually working in their favor or not.
Yet, after taking a look at our key email marketing metrics, we hope that you can pin down the most essential numbers for your performance reports, and make small tweaks to your strategy if needed.