Email marketing and Key Performance Indicators (KPIs) are crucial in current times to establish relationships with customers by directly communicating with them. KPIs are metrics employed to assess business performance and plays a vital role in attaining organizational aims. It also assists in knowing the measure of success a particular email marketing campaign achieved. You will definitely agree with the key statistics told in this article that can be employed to make powerful emails campaigns. Whether it is the open rate, click through rate, bounce rate or conversions, be ready to set your targets according to these factors to attain success.
1. Open Rate is a Key Part of the Larger Puzzle
Open rate is important to pay attention to because if your emails are not being opened, your efforts will be all in vain. Work and improve your email marketing skills to ensure that you write catchy subject lines and email body. There can be different causes for the variance of open rates. The service of easy Split Test subject lines is presented by all the significant Email Service Providers (ESPs) that can assist you in getting helpful insights soon after you commence A/B testing.
2. Click Through Rate can be Decisive
If your subject line is catchy, the chances of persuading the customer to open your email are high. However, if the content is not relevant or interesting, it will not take them long to send your email to the trash just like other emails. The click through rate is calculated by all the email service providers and comes in very handy because it lets you know the way customers are interacting with the emails you send them. All you need to do is divide the number of clicks by the number of emails delivered and then multiply by 100.
3. Bounce Rate can Make You or Break You
The percentage of emails that were sent but failed to deliver is called the bounce rate. Hard and soft are the two types of bounce, however, both are added together in “bounce” statistic by the email service provider. But it is important to understand the difference between the two. Soft bounces, as the name suggests are generally lesser problems, for instance, a full inbox or issues with customers email server. But once these issues are resolved, your email will eventually be delivered to the customer’s email. On the other hand, hard bounces are generally caused because if the email address is wrong or closed. It is important to focus on hard bounce email addresses because it will affect your campaign and also harm your reputation with Internet service providers.
4. Conversion Rate is Bound to Become Your Favorite
Conversion rate means the percentage of customers who finished the desired action, be it clicking on the mail to go make purchases or simply going through a post. To calculate the conversion rate, all you need to do is divide the number of people who responded to your email with the number of emails delivered. You can also add certain types of tracking to the URLs in your emails to get the precise conversion. You can also make the most out of Google Analytics by having a set of tracking tags for the URLs in your email.
How to Do Effective Email Marketing – An Infographic
5. Revenue Per Email
Revenue Per Email is among the most sought-after metrics for email marketing campaigns because it is simple and quick to use. In order to calculate revenue per email, you need to have the overall revenue created by your campaign and divide it by the number of email addresses that received the email. Although this is not an arbitrary measure or as extensive as the ROI, however, it will provide you a relative metric of revenue generated without any difficult math applications.
6. Spam Complaint Rate is Always Decisive
Spam complaint rate means the percentage of people who received your email and reported it as spam in their inbox. You must always keep a close eye on this statistic because if there are too many people reporting your emails as spam, then it can cause grave problems with your sender reputation and it is also possible that email service providers can block your IP address.
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7. Overall ROI Helps to Attain 100% Refinement
By calculating the return on investment (ROI), you can get to know whether your email campaign was successful or not. There are various methods with which you can calculate ROI. You need to take the dollar amount of sales that were generated from the email campaign and subtract it with the investment made in the campaign. Then, you need to divide that number by the amount and multiply by 100. It can be quite tricky but it will be worth the effort, as you can know what were the factors that worked in the campaign and what did not so that you can improve upon them.It is imperative that you must have all the above methods in your email marketing campaign because only then you will be able to correctly understand the effectiveness of your email marketing strategies.
It is imperative that you must have all the above methods in your email marketing campaign because only then you will be able to correctly understand the effectiveness of your email marketing strategies.
Zahoor Bhat has over 10+ years of experience as an online editor and media manager. He has worked with major online news and content sites as a media manager. He is well versed with major content management systems and web platforms such as WordPress and social media networks including Facebook, Twitter, Youtube, Google Business, Yelp, Instagram & Linkedin. He is an expert in content creation, proofreading and finally making it live. Being a social media expert, he is able to make relations with social media influencers and make sure to generate leads and grow business via different social media platforms.