There are many ways to optimize your email marketing campaigns: you can improve your subject line and design, make a killer copy and even clear your mailing lists to keep only qualified leads.
However, no matter how much effort you put into making your email marketing spectacular – it is useless if you won’t measure your campaign results.
The email marketing metrics serve exactly that purpose: knowing when things are going well, or more importantly, when they are not.
But, with so many factors that can potentially affect your campaign results, how do you know which email marketing metrics to focus on?
Keep reading and discover the 6 email marketing metrics you should really be tracking.
6 email marketing metrics to track
This is a fact: you will see this metric (Open Rate) on any list of email marketing metrics out there. That is because while digital marketers may have different opinions on the other metrics that are important for their campaign, the Open Rate is unanimous among all.
The Open Rate is expressed as a percentage and measures the number of people opening your emails to those who received them. Thus, a low open rate means that your leads do not even open your message, which would invalidate all your other efforts in making an exceptional email.
The good news is that the reasons for a low open rate are few and easy to identify.
First of all, you should verify your mailing list and make sure you are sending emails only to people who are likely to be interested in what you have to offer.
Last but not the least, you should check your subject line. Without an exciting subject line, it is unlikely that recipients will want to read the rest of your email.
Take a look at our post about subject lines to know what you can do to improve yours.
2. Click-through Rate (CTR)
Let us suppose that the lead has opened your email, but now what? Now, he needs to take an action you want him to take. The Click-through Rate (CTR) is the email marketing metric that will tell you this: how many users clicked on the link provided in your email.
CTR can sometimes be confused with the Conversion rate. But you must be careful because they are actually very different. While the CTR measures how many leads clicked on the link in your email, conversion rate measures how many of them closed a deal.
For example, you send a Black Friday email to 100 people on your list, containing a link for a discount offer. From that group, 54 people click on your discount link, but only 23 make a purchase. It means that your CTR would be 54%, and your Conversion rate 23%.
3. Bounce Rate
You sent emails to 100 leads, but only 83 received them. It means that the other 17 returned to your inbox with a message that the email cannot be sent.
There are several reasons why this might happen. To identify them, you should firstly know your Bounce rate, that is, the percentage of sent emails that are returning to your inbox. In our example above, the bounce rate would be 17%.
Measuring your bounce rate and comparing it with the open rate will give you a good idea of the quality of your mailing list (do you remember this is one of the first points to have a high open rate?).
Your bounce rate will also be affected by deleted email addresses, people who switched companies, or full inboxes. That is why using an email verification tool is essential to identifying these cases.
4. Unsubscribe Rate
This is one of the email marketing metrics and it is a number that no marketer wants to overlook.
Ideally, your unsubscribe rate should be equal to 0, but, as we know, not everything is perfect, and so you must track how many people unsubscribe from your email list.
Do not despair if your unsubscribe rate is high. Many experts believe that a high rate allows you to optimize your mailing list, leaving only interested people in your company.
However, be careful! A high unsubscribe rate may also indicate that your messages are not so attractive. That is why it is valid to place a quick survey on the ‘unsubscribe’ page, so that users can inform you why they are leaving your mailing list.
5. List Growth Rate
The List Growth is one of the email marketing metrics for tracking your mailing list’s growth rate. You can calculate it by taking the number of new users, decreasing the number of cancelations, dividing by the total of email addresses in your list, and multiplying by 100.
It is normal to experience some wear (and see your list shrink at certain times), so focus on ways to grow your list organically and find new loyal subscribers continually.
6. Spam complaints
At last, your spam complaints have a direct impact on your sender reputation. In other words, the more complaints, the worse your reputation with ESPs will be, which means that your messages will not reach those who should receive them.
Usually, your email server tracks this email marketing metric. However, you will want to monitor it closely to avoid it being too late to take corrective action.
In short, be smart about which email marketing metrics you want to track and be sure to effectively measure each campaign's performance, the integrity of your email list, and your progress towards your business goals!
To become an email marketing expert, keep following our blog, and check out all the top tips!