6 Email Marketing KPIs you should be tracking
We all know the significance of doing email marketing for our businesses. To run a successful email marketing campaign, we have to consider many things, leads, subject lines, timings, format, email copy, optimization, etc. They are all planted perfectly by our email marketers. Still, their email campaigns fail to meet the target. Despite planning every strategy perfectly, they suffer some fallouts, and if those are not comprehended and resolved timely, they cause serious damage to email campaign metrics.
Thus, the most important part that many email marketers often overlook is following up to balance the campaign metrics. The first thing that you have to decide is your clear marketing goal. The reason why you are taking pain. When you keep on checking your campaign's metrics, you can remove every kind of error. The question thus arises which kind of metrics you should be checking to maintain healthy metrics rates.
Email marketing KPIs you should be following:
We have mentioned here some Key Performance Indicators (KPIs) for you. These will help you at the time of running email marketing campaigns and gain fruitful results.
1. Email Open Rate of Marketing Campaign
Email open rate is the first step that leads you to count your metrics. This tells you how many of your subscribers have actually opened your emails. This is important to know if your subscribers are checking your emails. Having a huge email address list is not important, and delivering uninterested subscribers would even cause your metrics to get down. This is alarming to check why your emails have failed to stand out among the email crowd, what your subject line or preview text is lacking. By analyzing your emails, you would be able to maintain your email open rate.
2. Click-through Rate of your Emails
Your click-through rates do tell you how many of you have checked your landing page. A landing page is the destination of your email, the reason why you have composed your emails. Your landing pages are where your products and services are planted. Your email copy is not compatible enough to convince your reader to take a call to action and click through the landing page. To make your analytics high, you have to work on email copy, and you need to make a clear call to action and include a highlighted button.
3. Conversion Rate of your Email Marketing Campaign
Conversion is the goal for which your email campaign has been planned for. This could be anything, selling your products, offering services, calling your subscribers to read your blog, growing your list, or anything else. Usually the conversion rate for any email marketing campaigns is almost 2-4%. This is already too low. But the conversions or sales generation is way greater than your investment in running an email marketing campaign. If your conversion rate is low than the expected or ideal conversion rate. This means that your emails are failing somewhere, or you are not nurturing leads properly. You should work on driving conversions and try to send improved drip email campaigns to nurture your leads.
4. Bounce Rate of your Emails
Bounce rate tells you how many of your emails remain undelivered to your subscribers or unable to reach the subscriber's inbox. This may be due to different reasons, your server connection, your sender's reputation, spam rate, deferred emails, etc. You have to check it on time as this may endanger your sender's email address.
5. Overall Return on Investment (ROI) rate of email campaign
The most important and ultimate metric of your email marketing campaign is the return on investment (ROI) rate. This is the real success rate of your campaign. How much you have invested in the complete campaign, and how much it has paid you back. You can find it by dividing your overall revenue by the amount you have invested. It is the most basic formula that you can apply to gain your ROI of the campaign. This is important to analyze how successful your drip campaigns are and how to strategize the next time.
6. List Growth Rate of the Email Address list
According to a study, your email contact list decays by a figure of 22-25% every year. Email growth rate tells you with what percentage your email contact list is growing every year. This is important to grow your list with fresh and interested subscribers. As they would increase your campaign metrics, and there will be chances of increased conversions. So this is an important thing to consider while following up on your campaign.
Your email marketing campaign is not completed until you follow up the whole campaign. This would be tragic if you just send emails and not follow up on the results. You can confront issues at the end of your campaign, and you won't be able to do anything then.
Besides these key performance indicators, you should also look closely at your unsubscribe rate. This would be telling you how many were not impressed with the content you are providing through your drip email campaigns. If your unsubscribe rate is increasing swiftly, you need to improve your content and engagement rate or ask your subscribers for their feedback. This would help you to improve your content and also check your email forward rate or share rate. This is encouraging in any case, as this means that your emails were appreciated and forwarded by your subscribers.
By following all of them, you will surely be capable of running a successful email marketing campaign.