When you evaluate your email marketing results, you’re likely checking things like opens and clicks. But did you know that to understand the full impact of your emails and how they are impacting your business growth, you need to dig deeper?
Email marketing has an average return of $38 for every dollar spent and can be more effective than Facebook and Twitter in gaining new customers.
So, what are your emails doing for your business? Do you know and are you measuring the results of each campaign?
Here are 4 email marketing metrics you should always be monitoring…
Click through rate. This is the day-to-day basic email marketing benchmark because it’s easy to calculate. It is simply the total clicks divided by the total number of emails sent. It’s smart to track your click-through rates (CTR) and to A/B test different campaigns to find new ways to increase clicks. You’ll also get an idea of the percentage of people on your email list that is engaging with your brand or offers.
Conversion rates. Once they click open your email, the next goal is to get them to convert or take the action you have asked them to take. This could mean downloading an e-book or offer, purchasing an item, or setting up an appointment or meeting. A conversion is tied to the call-to-action, which is ultimately the goal of the campaign. To track this, you’ll want to integrate your email with your web analytics.
Bounce rates. You’ll want to track “hard” and “soft” bounces. A soft bounce is a temporary block from the recipient receiving the email, like a problem with the server or full email. A hard bounce is an invalid or non-existent address and the email is never delivered. When an email is hard bounced, remove it from your email list immediately.
Overall ROI. Just like other marketing campaigns, you need to be able to determine the overall ROI of your email marketing. You can do this by setting up an SLA system and assign different values to different types of leads based on how they generate revenue. Know how many leads you generate from email versus other marketing initiatives so you can pinpoint if they actually contribute to revenue.
No matter what your business goals are, email marketing can help. Make sure you use your emails to stand out from your competition. Drive traffic to your website or landing page, give users a call-to-action and track exactly how successful each campaign is by doing these things.
Contact us to learn more about how to set up, analyze and measure your email campaigns.
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