Email marketing remains one of the key ways to find new customers and to retain loyal people. It allows you as a business to communicate with your customers so that they can remain informed about your business. Key email marketing metrics can help your business identify trends in your email campaigns so that you can improve your business’ email marketing.
Statistics can help your business in different ways.
- Identify trends among your customers.
- Key you into specific strengths and weaknesses.
- Point you towards changes that can improve your email marketing campaign.
Consider the different email marketing metrics mentioned here so that you can gather the necessary information to improve your eCommerce marketing strategy.
Bounce rate lets you know the percentage of emails that never reach their destination because of an issue on the receiver’s end. This means that something went wrong for the customers you sent the emails to. The two main bounces are called hard and soft bounces.
Hard bounces mean that something is wrong with the receiver’s email. For example, a hard bounce occurs when an email is misspelled, doesn’t exist, or has the wrong domain (the portion after the “@” symbol). This means that the person can’t be contacted through the given email, so you should remove those emails from the list as soon as possible.
Soft bounce means that the email you sent couldn’t reach them for a reason outside of the actual email address. This can include having a full inbox or anything else that prevents your email from reaching them. If this is the case, see what you can do to fix it. These bounces will let you know if you need to remove anyone from your email list to avoid increasing your bounce rate.
Open rate lets you know the percentage of people who opened your emails. While this may seem like a simple statistic, it can provide your business with important information. It lets you know what information and subject lines make your customers want to click on your emails. If you see a spike in your open rate, then you know that you gave the customers something that they wanted.
The open rate can also provide you more information, such as the best times and days to send out emails. Look at the statistics for your industry to see when you should send out your emails so that they can reach the most customers. You should also keep your own data in mind as you decide when to send emails for the highest open rate.
Keep in mind that your own business’ data may vary from the average. If this is the case, adjust your subject lines and days when you send emails according to the needs of your customers. You need them to succeed as a business, so providing them the information they want at the time they want will increase their loyalty while also increasing their tendency to open your emails.
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Click-through rate lets you know the number of people that click on the links in the emails that you send. These are the people that not only show interest in your emails but also take the extra step to act and support your business. Click-through rates show that you appeal to customers and provide them the option to gain more information.
Click-through rates also show that you provide links that your customers find interesting or informative. This can be due to a variety of reasons.
- The content you create.
- The products you provide.
- A business model that they like or respect.
Make sure to identify what draws in your customers so you can keep giving them that through your email campaigns.
Your unsubscribe rate lets you know what percentage of your email subscribers end up unsubscribing from your newsletter. It’s best to keep this metric as low as possible since it shows you that you retain your customers. Whenever it increases, then you know that you need to change something about your email campaign to maintain your subscriptions.
It can be hard to tell if your unsubscribe rate is too high, so here are the averages for various industries. This should give you an idea of your unsubscribe rate. If you find your unsubscribe rate becomes too high, then think of ways for you to maintain your customers and to keep them coming back.
You should always aim to keep your unsubscribe rate as low as possible. Do not worry if someone unsubscribes, as this is normal, but you may need to make some changes if your unsubscribe rate continues to rise. Keep an eye on it and adjust your email marketing accordingly.
Return of Investment (ROI) lets you know how well your email marketing went. You can calculate ROI by subtracting your money gained by your money spent then dividing it by the money spent (gained-spent/spent=ROI %). You can use this to see how much your business profited from the email campaign.
Email marketing stands out as the highest average ROI for your business. On average, businesses make $40 for every $1 spent. This gives you a general idea of what to aim for, but keep in mind that yours may be lower if you’re a smaller or niche business.
See how much money you make from your email campaigns. If you notice that your ROI increases, continue to do what you’ve been doing. If it decreases, then figure out what caused the decrease and fix it. If it stays the same, make changes to get it to increase. By monitoring your ROI, you can become mindful of customer reactions to changes in your email campaign.
Each of these email marketing metrics will help you learn about your business and identify ways to improve it. While some of your rates may seem small or inadequate at first, keep in mind that as you make progress, you’ll work towards your goals. Taking those necessary steps to constantly improve will help you increase profits for your business.
Continue to look over your metrics and to act accordingly. After all, if you don’t know about your current business statistics, you won’t be able to adjust your business for the better. By making changes to draw in more customers while retaining your current ones, you’ll see more success and growth for your business and your email marketing campaign.