Metrics are vital for your email marketing campaign. They help you track the people you’re sending emails to, you can see if they’ve opened your email, if it has gone unnoticed, or if they’ve unsubscribed. It’s so important to track these aspects of your campaign to see what you are doing right, and what could use some improving.
1) Clickthrough Rate: The percentage of email recipients who clicked on one or more links contained in your email. To calculate this, you simply divide your total clicks by the number of delivered emails. A CTR tells you how many people are engaging with your emails, and are wanting to learn more about you.
2) Conversion Rate: The percentage of email recipients who clicked on a link in your email and completed its desired action (filling out a form, downloading an eBook). Your conversion rate is important to pay attention to because it is tied to your emails CTA, which should be tied to your end goal of your email marketing campaign. Think of the Conversion Rate as a way to establish the success of your campaign, and to determine the rate in which you’re achieving your goals.
3) Bounce Rate: The percentage of total emails sent that were not successfully delivered to your recipients. There are “Hard” bounces and “Soft” bounces. A Hard Bounce occurs when an email address is invalid, or non-existent. Hard Bounces should be taken from your mailing list right away, because Internet Service Providers (ISPs) might think you are sending spam. Soft Bounces are only a temporary problem with a valid email address, and can occur if an inbox is full or there is a problem with the recipient’s server.
4) List Growth Rate: This one is self-explanatory, and is the rate that your email list is growing. You should always be aiming to grow your list and extend your reach, but you should also be removing invalid accounts to ensure you are sending your emails to people who are receiving them. To determine your list growth, you would follow this calculation: Number of New Subscribers – Number of Unsubscribers + Email/Spam Complaints ÷ Total Number of Email Addresses x 100
Interested in learning how to grow your email list? Read our guide for best practices and list building techniques here.
5) Email Sharing/Forwarding Rate: The percentage of email recipients who shared your post via social media, or forwarded your email to a friend. This is how you generate new leads, and decide who you should be adding to your mailing list. From this information, you’ll be able to determine which topics or content offers are being shared the most, and can help you with future campaigns.
6) Overall ROI: As all marketers know, an ROI is something you always need to know whenever you launch any kind of campaign. Your Overall ROI is the return on investment for your email campaign. To calculate, follow these steps: $ in Additional Sales Made – $ Invested in Campaign ÷ $ Invested in Campaign x 100.
7) Database Size: The number of email addresses in your database that you can send mail to. Your database expires by 25% per year, so it’s important to always find new ways to generate new qualified leads to grow your database size.
8) Offer Redemption: An offer redemption can be almost anything, from infographics to webinars. You’ll want to know how many people are downloading, or registering for your content offer. This helps you understand your audience and what they are interested in seeing.
9) Email Open Rate: Your Email Open Rate tells you what percentage of recipients opened your email. You will be able to see which subject lines are opened, or go unnoticed from this metric, and it will help you choose subject lines that appeal to your recipients.
10) Email Opt-Out Rate: The Email Opt-Out Rate is not as exciting, and is the rate at which your subscribers unsubscribe. If this rate is over 5%, you should try segmenting your list in a more extensive way. Use things like demographic, company type and size, or pain points to divide your list, and you should see a more positive result. You’ll be able to target smaller groups of people to ensure your recipients are seeing things they want to see.