Email marketing is beneficial for businesses of all sizes. Of course, you have to master all the aspects of email campaigns if you want them to be successful. But at the end of the day, running an email marketing campaign comes down to the numbers. It is excellent that you can analyze the metrics because these will come in handy in the future. On the other hand, you must know which data you should track.
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Looking at the title of the article we can think these metrics are something very specific and only relevant to email marketing, but they are actually something to consider in every marketing activity we intend to implement in our business.
Clickthrough Rate or CTR is undoubtedly one of the metrics you shouldn't ignore. It would be best if you tracked it every single day. It will give you a good overview of the number of people who engage with your content one way or the other. For instance, if you included a link to a new offer on your website, the clickthrough rate will tell you how many customers and subscribers clicked on it.
There are a couple of tricks you can use to increase the clickthrough rate in the emails. Ensure that the links are located in the right places throughout an email. Don't group them all in one place. Also, if there is a call to action in an email, make it visible and noticeable.
Open rate is the primary email marketing metric that will tell you if the subscribers are opening your emails or not. The average rate for email campaigns is around 24%. So if your number is higher than that, you are doing exceptionally well. On the other hand, if your open rate is lower than 24%, it might be time to change a thing or two.
Start with your subject line because that is what your subscribers see first. Customize it by including a subscriber's first name. The subject should be short and straight to the point without any unnecessary or extra words. Consider using emojis as well, depending on your target audience.
3.New Subscribers and Unsubscribers
Tracking unsubscribers alone won't do much for the success of your email marketing campaign. While you can keep a close eye on the number of people who hit unsubscribe after opening your email, it is not a reasonable estimate of those who don't engage with your business anymore. The majority of subscribers are, for some reason, too lazy to unsubscribe. They will continue to receive the emails and entirely ignore them.
On the other hand, you can examine the number of new subscribers and unsubscribers to see how your mailing list is growing. You can calculate this yourself by subtracting the number of unsubscribers from the number of new subscribers. Then divide the result by the number of total subscribers and multiply it by 100. Remember that this number will often fluctuate, but it is helpful to track it.
4.Sharing and Forwarding
This metric might not look important, but the truth is that sharing and forwarding emails is crucial when it comes to a campaign's success. It means your subscribers want to tell their friends or family about something you included in the message. After all, these actions will make new people discover your services.
You could motivate your existing subscribers to share the content by making it useful. Then track how many of them forward an email or share links on social media. Not to forget that you need to see the types of articles or links they send out. It can help you out when planning future content for your company's blog and give you more ideas about what subscribers like.
5.Return of Investment
Finally, there is the return of investment, also known as ROI. It is the way to see the overall return of investment during an email campaign. You can quickly calculate this by subtracting the money you spent by launching a campaign from the revenue you made in sales. Then divide that number by the money your company has invested in the campaign itself and multiply the result by 100.
Overall, it is easy to track the leads you generated during a campaign. Email marketing is expensive, and it indeed is an investment. But it is also one of the best marketing strategies out there at the moment. So if the business you work for is not yet sure if email campaigns work, presenting them with a high ROI number should change their minds.