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MEASURING EMAIL MARKETING SUCCESS
Key metrics to Determine Your Success & Marketing ROI
Why Tracking is So Important?
Email marketing is an incredible channel to reach potential clients and maximize an existing client base. But two-thirds of the campaigns prove to be inefficient. Why?Given the fact that modern marketers wear multiple caps and are liable for many moving parts of their marketing mix, it’s simple for your email marketing data to become mixed up in all the metrics and KPI’s you need to watch out for.As a result you won’t be able to measure success of a particular segment and may result in losing sight of the actual return on the investment.
Measurement is the way to showing success. It’s the only way a marketer gauges progress, results, and actual return on investment.
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Did You Count The Clicks?
Key Metrics Delivery Rate Open Clicks Bounce Unsubscribe Spam/Suppress Conversion Segment Performance Overall ROI
The Benchmarks Delivery Rate = 90-98% Open Rate = 7 to 30% Click Through = 0.2% to 3.2% Bounce Rate = 0.5% to 2.2% Unsubscribe = 0.45% to 0.13% Spam Complaints = 0.027%
*The rates may vary from industry to industry and regions to regions. We’ve given the average.
Metrics Explained One By OneContact Makesbridge | +1 408 740 8224 | [email protected] | Blog
1. Delivery RateImportant:
• Pick up a reliable email platform• Prime your IP• Dig into your list• Check spam/blacklist alerts• Monitor your domain • or contact your service provider.
Deliverability is a method to measure the success at which a message gets into subscribers' inboxes
A solid delivery rate is usually around 97-98%.
If an organization lets you know they can get you a 100% delivery rate, they are not being truthful with you.
In case you’re below, you must dig in and solve possible basic issues with your email marketing solution or list.
Learn to Warm Up Your IP for Email Marketing
2. Open RateTo Get Good Open Rate:
• Work on your list• Grow/Freshen your contact database• Avoid too many campaigns• Prefer lead nurturing technique• Deliver quality contents• Improve your subject lines
Open rate is a measure of how many people on an email list open (or view) a particular email campaign.
A good open rate is usually between 7 to 30%.
A 20% open rate would mean that of every 10 emails delivered to the inbox, 2 were actually opened.
Open rates are pretty steady for B2B, hovering around 30%. B2C open rates, are between 30-35%. But obviously, many factors count in higher/lower percentage.
10 Quick Ways to Improve Your Email Subject Lines
3. Click ThroughFor better CTR:
• Personalize your emails• Automate relevant email dialogue • Offer targeted content• Avoid distractions • Don’t add too many calls to action• Ensure mobile friendliness• Enable social sharing
The most common and easiest email marketing metrics.
CTR is also frequently used for determining the results of A/B tests.
Divide the amount of clicks on links within your emails with the number of emails delivered, then times by 100 and you have a click-through rate percentage.
The higher the rate, the better it is for the marketer. A Higher rate indicates that people are paying heed to your calls to action & contents.
5 Best Ways to Make Automated Emails Feel Personal
4. Bounce Rate
To avoid bounce rate:
• Make sure that email addresses are accurate.
• Update your list & crosscheck before sending email
• Add un-subscription link in your emails• Avoid spam & unethical practices
In SEO, bounce rate refers to the percentage of visitors to a particular website who navigate away from the site after viewing only one page.
Remember, bounce rate has multiple interpretations in digital marketing, SEO and emails.
In email marketing, bounce rate refers to the percentage of email addresses in your subscriber list that didn't receive your message. This can be split into two categories: Hard and Soft.
A hard bounce happens when an email address is incorrect or flagged as undeliverable by the recipient’s server.
A soft bounce happens when there’s a temporary delivery problem (The inbox is full, or a server is down).
5. Unsubscribe Rate
To avoid higher un-subscription:
• Improve quality of your database• Optimize your email campaigns• Review your email copies/content• Provide value in the message• Avoid too many calls to action• Add un-subscription link in your emails• Avoid spam & unethical practices
Sometimes it happens that your email marketing efforts annoy some of your subscribers due to mismatched expectations from you.
If you see less than 1% unsubscribe rate, it means you’re within the industry’s normal range.
However, if it crosses 1%, you need to work on that.
Remember, the lower your unsubscribe rate, the better for your campaigns.
Contact Makesbridge | +1 408 740 8224 | [email protected]
6. Spam Complaint
To avoid higher spam complaints:
• Obtain data legitimately • Improve quality of your list • Make compelling subject lines• Review your email copies/content• Don’t send too many promotions• Provide value in the message• Add unsubscribe link in your emails
What is a spam complaint? A spam complaint occurs when a recipient clicks on the 'report spam' button in their email program.
Sometimes, you just can’t pass email spam filters for certain reasons. In addition to your database overview, you should learn how to avoid email spam filters too.
Spam complaints are OK if they’re under average (0.027%) but of course, you can’t afford to have more.
7. Conversion
To enjoy greater conversion:
• Always do A/B testing• Create balanced value proposition• Set your unique sales funnel• Increase truest by constant engagement• Develop strong value proposition• Constantly update your contacts database
Conversion means any action completed thanks to the email activity. For instance a newsletter subscription, a mobile app download, a whitepaper download, a demo account activation, or a survey filled in.
The conversion rate is simply the percentage of email recipients who completed a desired action after clicking on a link in your email.
It is the ultimate goal of any marketer to have higher conversion and its rate determines actual ROI.
8. Segment Performance
To find your Sweet Spots:
• Create and send to different targets in a single campaign
• View stats on how one target performs versus the next.
Segment Performance is the measurement of a groups receptiveness to your offer.
Use Segment Performance routinely to hone in on what characteristics of individuals are more receptive to your offers.
Measure and compare attributes like job title, industry, geography, age and gender.
9. Overall ROI The degree to which spending on marketing contributes to profits. Digital marketers focuses on
Current Traffic Conversion Rate Average Sale Incremental expense Vs. incremental growth in sales and revenue
$1 investment in email marketing yields average revenue of $44. Survey by Econsultancy confirms that 68% of companies rate ‘email marketing’ as
‘good’ or ‘excellent’ in terms of ROI. (Image on the next slide) Companies attribute 23% of their total sales to email marketing. Set up an SLA system where you can assign different values to multiple types of leads,
depending on their choices to generate overall return on the marketing investment
Q: How do you rate the following channels in terms of return on investment?
63% companies see email marketing as good or excellent channel to generate return on the marketing investment.
Econsultancy
Tracking return on overall marketing investments tells you broader picture of profit & loss.
While campaign or channel overview enables to see which one is working better & which needs to give more weightage.
Conclusion
Calculating your marketing success is important as helps you identify the most successful and effective channels. You also get a chance to overview the weaknesses in your campaigns and learn how to improve those. For an email marketer, the above listed metrics mean lots as they help them identify key performing areas.If you find that your campaigns aren’t generating desired revenue/results, it’s high time to reconsider your marketing program. Reassess and re-plan your strategy for better results. In addition, recheck reliability of your email marketing system and see if you need to change or update.
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About MakesbridgeMakesbridge is a multi-tasking cloud platform which offers: email marketing, marketing automation, sales automation, lead scoring, tight integration with CRM (Salesforce/NetSuite etc.), website analytics, and business intelligence.
