Email Marketing Metrics: 5 KPIs for Data-Driven Marketers
Open rates only offer a small glimpse into the success of your email marketing campaigns. To determine whether your campaigns successfully drive engagement and behavior, diving deeper is necessary. In this article, we go beyond the basics to look at other email marketing metrics that can help you determine the success of your campaigns.
Click-Through Rate (CTR)
One way to tell if your email content engages your audience is by looking at the click-through rate or CTR. Instead, looking at your messages’ click-through rate can tell you more about how successful the campaign is. The click-through rate can be calculated by dividing the number of total clicks (or unique clicks) by the number of emails delivered.
This metric tells you how successful the message content is and whether the recipients find the content engaging. Many split tests are designed to find new ways to get more clicks in your emails, and the click-through rate is an essential metric to determine success. Clicks are significant because they often lead to conversions.
For most marketers, the conversion rate is the most vital metric to track. The conversion goal you are tracking may change from email to email. For example, the goal of one campaign may be to increase app downloads. In another, the goal may be to increase appointment sign-ups. Whatever your goal, to track the conversion rate, you compare the number of people who completed the desired action to the number of emails delivered.
To measure the conversion rate of your emails, you may need to integrate your email platform with web analytics. You can do this by creating unique tracking URLs for your email links that identify the source of the click as coming from a specific email campaign. Tracking the source is incredibly important for understanding the ROI of your email campaigns.
It’s imperative to keep an eye on your bounce rate. The bounce rate measures how many emails were delivered to the recipients’ inboxes. Bounces can either be soft or hard. Understanding why an email failed to be delivered can help you improve your lists for future sends.
Soft bounces result from a temporary problem with a valid email address, such as a full inbox or a problem with the recipient’s server. The recipient’s server may hold these emails for delivery once the problem clears up, or you can try to resend the message manually.
Hard bounces result from invalid, closed, or non-existent email addresses. These emails will never be successfully delivered. You should immediately remove addresses that hard bounce from your email list because internet service providers (ISPs) use bounce rates to determine an email sender’s reputation. Keeping your email lists clean is essential to maintaining email deliverability.
Similarly, you should be tracking who is unsubscribing from email messages. Seeing a small number of unsubscribes from your email campaign is expected. The average email campaign unsubscribe rate is about 0.2%. Nevertheless, tracking unsubscribes on a per-campaign basis is helpful to ensure your content is hitting the mark. If your unsubscribe rate jumps above the average, it may be time to re-evaluate your content or clean up your lists. Unsubscribing indicates that the recipient did not find your messages engaging, and you should remove any contacts who unsubscribe from future marketing messages. There are also legal ramifications for failing to comply. The CAN-SPAM Act requires companies to honor all opt-out requests and enforces penalties for noncompliance.
Spam complaints can also affect the future deliverability of your emails, so it’s crucial to track who is marking your emails as spam and remove them from your list. Spam complaints are delivered to ISPs, and receiving a lot of them could impact your deliverability and sending reputation. If you aren’t tracking these requests, you could be emailing people who do not want to be contacted by your company.
Conclusion: Implement Data-Driven Email Marketing Today
Move beyond top-line email marketing metrics to take your email marketing expertise to the next level. You can better engage patients, drive behavior, and improve outcomes by using data-driven email marketing techniques. Contact LuxSci today to learn more about how our HIPAA-compliant email marketing software can help you achieve results.