Best ways to evaluate the efficacy of Email Campaigns
Without depending on opens and click-throughs is
Hey, when you’re checking how well your email campaigns are doing, it’s not just about opens and click-throughs. While those are important, there are other metrics worth considering to really understand the effectiveness of your email marketing. Here are some other ways to measure the success of your email campaigns:
Bounce rate
let’s talk about bounce rate — it’s the percentage of emails that couldn’t make it to the intended recipient. When an email “bounces,” it means it failed to reach the inbox. Reasons for this could range from an invalid email address to server issues, spam filters, or even a lack of storage (referred to as “soft” bounces). The email bounce rate compares the number of successful deliveries to the total recipients.
Ideally, every email you send would reach its destination so that people can read, open, and respond. The goal is to keep the bounce rate as low as possible. Typically, a good bounce rate hovers around 0.7%, according to olsenmetrix.com.
If you’re noticing a high bounce rate — anything above the usual — it might be a sign that it’s time to tidy up your email list. This involves getting rid of outdated or invalid addresses and removing blocked email addresses from specific recipients.
By organizing and cleaning up your database, you ensure that the right people and their accurate information are in there. This way, you can focus your email marketing efforts on reaching the audience that matters most.
Conversion rate
So, a conversion rate shows how many people who got your emails did what you wanted them to do. It’s not just about clicking a link — sometimes you might want them to take a specific action, like filling out a form on your website.
Let’s say you’re sending out an email about a cool loyalty program your company just launched. You include a link to your website where they can sign up. The real goal here is for them to fill out and submit that form, even though it technically involves a click-through. The magic moment is when they complete the form — that’s when we consider them “converted.” It’s like turning interest into action!
Revenue per email
The website conversion rate will be known to marketers if Google Analytics e-commerce tracking is used. However, a figure that few people are aware of is the email conversion rate. Utilise the Google URL builder to track your email campaigns to find out how much income each email generates and your email conversion rate.
Also, try to identify the emails that are doing great, and then use them for all types of categories.
Unsubscribe rate
Anyone who gets your email should be pleased to do so and be given a choice to opt-out or unsubscribe at any time, following GDPR best practices. You should keep track of people who unsubscribe for two reasons.
An unsubscribe, first and foremost, indicates that someone does not wish to receive your emails. Although there are numerous possible causes for this, it usually indicates they aren’t receiving value, therefore you can enhance your emails to prevent it from happening again. This might also show that you are focusing on the wrong demographics; in that case, you should analyse your brand’s target market and rebuild your database.
In addition, if you notice many unsubscribes following a certain email, the problem is probably with the email itself. This provides you with a chance to evaluate the campaign, modify your strategy, and stop your company from making the same mistakes again.
You can identify trends by tracking your unsubscribe rate over time, such as shifting consumer preferences or emails that get the most unsubscribe requests. With this knowledge in hand, you can then adjust your campaigns to maintain users’ interest and subscription.
Revenue per email
The website conversion rate will be known to marketers if Google Analytics e-commerce tracking is used. However, a figure that few people are aware of is the email conversion rate. Utilise the Google URL builder to track your email campaigns to find out how much income each email generates and your email conversion rate.
Additionally, find emails that perform well and use them across all categories.
Measurement of delivery, open, and click-through rates is a wonderful place to start. Still, by restricting what you monitor, you are missing out on very actionable information that will increase customer happiness and sales. The adage “not everything that matters can be measured, and not everything that can be measured matters” applies here. Measure beyond the fundamentals and start acting the next time you send an email campaign!
Forward/share rate
This indicator focuses on the proportion of users that forwarded or shared an email using the “forward” or “share this” button.
Since your recipients are already on your mailing list, it’s crucial to know how often they forward or share your emails because this can help you find new connections.
Making personalised emails is the first step you should take to increase forwarding and sharing rates. Personalised emails are forwarded significantly more frequently than generic emails. Make sure your email content is naturally shareable, something helpful, interesting, or related to an event that your receivers would be encouraged to forward, in addition to adding a clear CTA to forward in it.
By dividing the total number of forwards or shares by the total number of emails delivered, you may find the email forward and sharing rate. To determine the percentage, multiply that amount by 100.
List growth rate
There’s this thing called a list growth rate, which is like a performance tracker (KPI) telling you how fast or slow your email list is growing or shrinking. It’s super important because it helps you figure out what methods or channels are working better than others, helping you measure how well your lead capture strategies are doing. Once you’ve got this info, you can tweak your whole plan as needed.
If you notice your list isn’t growing as fast as it should or it’s actually shrinking, you should keep a close eye on it. By doing that, you can boost your list growth rate. If things are going south faster than they’re going up, you might need to dig deeper to find out what’s causing the problem. You could even think about launching more efforts to capture leads.
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