Unlocking the Secrets to High Conversions" - Take your email marketing to the next level with this ebook, which covers advanced tactics such as segmenting your email list, optimizing your email design, and personalizing your messaging.
Successful email marketing campaigns can provide businesses with increased sales, more website visitors, and improved brand recognition. But how do you know which metrics are important to measure email performance?
Knowing what data to track will help you determine the success of your campaign and make it easier to adjust when needed. In this blog post, we’ll explore 19 different email marketing metrics that you should be tracking in order to improve your sales and reach goals in 2024.
We’ll go over what each metric measures and why it’s essential for every business looking for growth through their email campaigns. So let’s dive into the world of email analytics!
Open rate is one of the crucial email marketing metrics, as it will help you learn how your email subject lines perform. High open rate rates are usually the outcome of a subject line that is free of spammy words, is effective and clear, and conveys the benefit at first glance.
Also, according to statistics, 47% of recipients will open a campaign just by glancing at the copy. Hence, it’s essential to A/B test your subject lines to optimize them accordingly.
To determine your email open rate, you must divide the number of emails read by the number of emails sent to your list. Then, multiply the number by 100.
Non-open rate indicator will show you the number of campaigns your audience hasn’t opened.
Watching non-opens is a wonderful way to find elements that don’t work well.
So make sure you A/B Test to improve your email performance and make tiny yet crucial changes that’ll improve your open rate.
To see your non-open rate, you have to divide your not opened campaigns by subtracting the number of emails sent from your bounced campaigns.
You must keep track of your email link performance. While there’s no recipe, you can utilize email marketing tools to notice how your recipients interact with your links. For instance, email tools like NotifyVisitors provide you with a reporting and analytics dashboard
You can utilize these insights and click maps to discover what appeals to your subscribers and whether link positioning helps you in your engagement rates.
According to 99 firms, in 2019, the number of emails opened on mobile devices was 41.9%. So it indicates that it is one of the important email marketing metrics you need to track.
First, determining your mobile opens will allow you to plan your email campaigns more effectively, select responsive layouts, optimize your email subject lines for mobile devices, and so on. Also, you can develop specific messages for your mobile users to improve engagement and deliver unique experiences to them.
Your mobile open rate derives from the number of emails opened on mobile devices divided by the number of mobile recipients.
Your click-through rate (CTR) will help you find the number of people clicking on your email links. In addition, your CTR is another crucial email metric to understand whether your email copywriting leads your subscribers to your calls-to-action (CTA).
According to statistics, the average click-through rate for all industries is 10.29%, with an open rate of 16.97%.
To determine your CTR, you need to divide the no. of campaigns your recipients clicked on by the no. of delivered emails minus the bounced ones. Then, multiply the number by 100 to discover your rate.
You should calculate your Revenue Per Campaign (RPC) as an important email marketing metric to see the profit generated from your messages.
Watching your RPC will support you in finding which email marketing campaigns work best for your audience and enable you to replicate their success in the future.
To determine your revenue per campaign, you must divide your total revenue by the total number of emails sent.
Your Email Forward or Share Rate indicates the percentage of recipients forwarding or sharing your message with their friends.
You can utilize this metric to find your messages fascinating enough for your contacts to forward them to their friends.
In addition, a high email forward rate is perfect for businesses who want to expand their word-of-mouth marketing strategy
Seeing your email forward/share rate needs to divide the number of forwards/shares by the total number of emails delivered to your email list.
Your email read rate or read time will reveal how many opened email campaigns were read.
This email marketing metric is valuable for more important campaigns, such as privacy updates.
For example, it will allow you to see whether your subscribers read through or open your campaign and then go away without reading the message.
Determine your email read rate by dividing the number of emails read by the number of emails opened by your recipients.
Your email marketing conversion rate indicates the percentage of subscribers who completed a desirable action. This action can vary depending on your objectives. For instance, your conversion indicator can be purchased or getting your subscribers to sign up for a webinar or any other activity.
While there’s no typical number to exhibit the ideal conversion rate, you should always strive to improve your conversions over time and compare the results to see whether your email marketing strategies work well.
You can calculate this metric by dividing your conversions by the number of email marketing campaigns you sent, multiplied by 100.
The email bounce rate indicates how many email addresses didn’t receive your campaign. Bounces occur for a variety of reasons.
For instance, the email address might be incorrect due to spam complaints, poor deliverability and sender reputation, flagged email content, a full inbox, and so on.
When we say the bounce rate, you need to consider the two types of bounces:
To estimate your bounce rate, you need to divide the no. of bounced emails by the no. of emails sent and then multiply it by 100. According to the thumb rule, a bounce rate of about 2% or less is considered good.
Your unsubscribe rate is one of the important email marketing metrics to measure the percentage of recipients opting out of your email list.
According to email marketing stats, the average unsubscribe rate for an email marketing campaign is around 0.2%, which is a good percentage if you consider that the spam rate is approximately 0.02%.
See your unsubscribe rate simply by dividing the no. of unsubscribes by the number of emails delivered to your subscribers.
The return on investment (ROI) is an email metric used to calculate the overall profitability of your marketing strategy.
Similarly, your email return on investment can signify the success of your email marketing efforts, typically in the form of $X for every $1 spent on it.
Today, email ROI accounts for $42 for every dollar you invest, which is beyond perfect for thriving businesses.
Calculating your email ROI might be a little tough as you have to find out the money you earned and spent on email marketing:
Subscriber Acquisition Cost (SAC) is one of the email campaign metrics that will inform you how much it costs to gain new subscribers.
Discovering your SAC will let your business estimate the value of each contact and aid you in making more accurate ROI calculations.
To see your SAC, you have to divide the cost of obtaining new contacts by the number of new subscribers you have.
Your email opt-in conversion rate indicates the number of website visitors who successfully joined your mailing list through a pop-up form.
This email marketing metric can vary based on the position of your opt-ins. For example, homepage forms might have a higher conversion rate than landing pages.
The pop-up conversion rate for the homepage is 3% while landing page opt-ins tend to have a 5-15% conversion rate.
Finding your email opt-in conversion rate is easy. First, you need to divide the number of opt-ins by the number of subscribers you have and multiply it by 100.
Revenue Per Subscriber is a helpful metric that companies can use to estimate the profit generated by each Subscriber.
Your RPS is similar to your Average Revenue Per User (ARPU), an indicator that lets you track your growth rate and compare it to your competitors.
Your RPS is computed by dividing the revenue from your email list by the total number of subscribers.
After determining your revenue per Subscriber (RPS), you can utilize the data to estimate your Subscriber Lifetime Value (SLV).
This email metric will exhibit the average time users spend on your mailing list before unsubscribing.
To calculate it, first, you have to compute your RPS (revenue per Subscriber) and then multiply the number by the number of months a contact spends on your list.
Your click-to-open rate (CTOR) is one of the crucial email marketing metrics that can tell you how compelling your email content is. This is a critical indicator as it will offer valuable insights into your email performance (message, design, CTA) and how your recipients interact with these elements.
Compared to your click-through rate, CTOR concentrates only on the content of your email marketing campaigns. On top of that, tracking your click-to-open rate will benefit your A/B Testing efforts, letting you design better content.
You can calculate your CTOR by dividing your unique clicks by your unique opens and multiplying it by 100.
When estimating your email marketing metrics, you always need to keep the spam folder in mind. As you understand, recipients might flag your messages utilizing the spam option of their mailbox provider (ISP) when something looks fishy.
Before you try to understand what went wrong, you have to watch your spam complaint rate to learn whether your audience reports your emails.
Data shows a good complaint rate of 0.1% (1 report per 1,000 emails), while a 0.5% rate isn’t good.
To compute your spam complaint rate, you must divide the number of reports by the number of emails sent.
Building and expanding your subscriber list is a successful approach for every email marketer.
To see if more people are curious about your brand, you can compute your email list growth rate to decide whether your lead generation and marketing efforts are performing.
An expanded and engaged email list will help boost your products/services to a large and interested audience that will take action.
To determine your mailing list growth rate, you need to subtract the number of new subscribers from the number of unsubscribed users. Then, you have to divide the number by the total subscribers and multiply it by 100.
If you are not tracking any of these email marketing metrics then you are missing out on valuable insights that could help improve your sales. These metrics will help you optimize your email campaigns to get more leads and conversions in 2024.
So, what are you waiting for? Start tracking these email marketing metrics today and see how they can improve your sales!
Email marketing metrics help you evaluate the success of email campaigns. With the help of email marketing, you can determine which campaign is working best and which needs improvement.
Here are a few email marketing metrics you should consider:
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