While running an email marketing campaign, it is critical to conduct audits to ensure that you are making the most of your time and effort.
According to Campaignmonitor.com “KPIs—or key performance indicators—are measures of the performances of different aspects of an email campaign. There are many different types of insights you can gain from tracking email KPIs. Mostly, you’ll want to know who opens your marketing emails or who forwards them to other contacts”.
One of the most important aspects of conducting an email audit is keeping track of key performance indicators, or KIPs, and metrics. That’s because they provide a wealth of information to assist you in making sound decisions.
And also remember this.
Email marketing success requires proper click-through rates, low bounce rates, and high conversion rates. This data helps you if you understand what the numbers mean and how to read them correctly.
Essentially, these metrics enable you to identify areas where you need to improve. They also highlight areas where you are succeeding.
This will then assist you in improving your overall email marketing sales and interaction with your target audience.
- 1. Performance Indicator : Email Bounce Rate
- 2. Performance Indicator : The Email Open Rate
- 3. Performance Indicator: CTR (Click-Through-Rate)
- 4. Performance Indicator : Click-to-Open Rate
- 5. Rate of Unsubscribe
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1. Performance Indicator : Email Bounce Rate
The bounce rate is the percentage of email addresses in your subscriber list that did not receive your message because it was returned by a recipient mail server in email marketing.
You should keep track of this to ensure that you have accurate and up-to-date information on your leads. It also helps check that your email marketing service provider is safe and secure to avoid rejection.
Using double-opt-in forms and authenticating your email address can help improve this.
Reduce Your Bounce Rates
Some methods of reducing bounce rates are :
2.Keep your list clean on a regular basis.
3.Confirm That Your Emails Aren’t Spammy.
4.Divide Your List.
5.Show up on a regular basis.
6.Avoid Using Free Sender Domains.
7.A/B Testing Emails.
8.Delete Hard Bounced Email Addresses From Your List.
2. Performance Indicator : The Email Open Rate
This figure indicates how frequently your subscribers open your emails.
An open rate of 20% or higher is a good target to shoot for because your email marketing goals won’t be met if your subscribers don’t open your emails.
Furthermore, ensure that your opt-ins are targeted to the appropriate audience and that your subject lines are written to entice and convince your viewers.
Here are some reasons why your open rates are dropping.
▪It’s possible that the people on your list have since closed those email accounts and moved on to newer ones.
▪Your email’s sender name and subject line are the most important factors in getting it opened and read.
At times open rates give you a quick indication of whether your email marketing strategy is working or not.
Many people base their email marketing strategy on their email open rate, and while this metric is important, no single metric should determine your strategy.
How To Improve Your Email Open rate
1. Maintain a current list. Are your subscribers still interested in hearing from you?
2. Subdivide your list (segmentation)
3. Avoid using spam filters.
4. Fine-tune your timing.
5. Make your subject line pop.
6. Address your letter to only one person.
7. Write to a friend.
8. Create exceptional content always.
3. Performance Indicator: CTR (Click-Through-Rate)
The click-through rate, also known as the email click rate, is the number of people who clicked on a hyperlink, CTA, or image within an email.
To calculate it, divide the total number of people who clicked by the total number of delivered emails and multiply the result by 100 to get your email CTR percentage.
The primary purpose of tracking click-through rate is to gauge engagement. You can assess performance in terms of overall interest or email fatigue using click-through rates .
Let me explain.
If you had a 4% click-through rate, that means that for every 100 people who saw your email in their inbox, four people opened it and then clicked a link within that campaign.
It is strongly suggested that you aim for a CTR of 4% or higher to achieve the best results.
How To Improve Email Click-Through Rate
CTR can be increased by improving the copy and the call-to-action.
1. Focus on a single goal. Best practices suggest that each email should only have one goal.
2. Make your call to action stand out.
3. Subdivide your database.
4. Make your message unique.
5. Update your templates.
6.Make the situation urgent.
7. Employ social proof.
8. Emphasize scarcity.
4. Performance Indicator : Click-to-Open Rate
This is a greatly underappreciated metric that provides a clear indication of how well your content within the email is performing.
It divides the number of unique clicks by the number of unique opens to determine how unique or interesting your content is to your subscribers.
The percentage of people who open an email campaign is known as the click to open rate (CTOR). The CTOR determines the efficacy of an email campaign.
This metric can vary but should be between 20 and 30 percent.
It will be higher if you truly understand your audience and create amazing content.
Getting to know your audience and staying up to date on industry developments can both help you create better email copy.
Difference Between Click-Through Rate & Click-to-Open Rate
The difference between CTR and CTOR appears to be less but it is critical
Let me explain with two separate examples
100 emails were sent, 50 emails were opened, 10 people clicked on a link or CTA within the email.
CTR: 10% CTOR: 20%
Its overall performance is around 10%. The success rate of the content within the email is 20%.
100 sent, 10 people opened it, 5 people clicked on a link or CTA within the email.
CTR: 5% CTOR: 50%
Its overall performance is around 5%. The success of the content within the email is 50%.
5. Rate of Unsubscribe
This rate indicates how many people have unsubscribed or opted out of your email campaign.
This metric is computed by dividing the total number of unsubscribes by the total number of emails actually delivered. Then you multiply that number by 100.
An unsubscribe rate of less than 0.5 percent is considered normal , while 0.2 percent and below is considered excellent.
It is important to note that the unsubscribe rate for newly generated mailing lists is naturally higher, as people need time to decide whether they want to continue building relationships with your company.
If you have a high unsubscribe rate, this can tell you a few things. You’re either sending too many emails, not enough emails.
Or it’s possible the content is inferior, or it doesn’t meet the expectations of those who decide to follow from the opt-in form.
How To Reduce Email Unsubscribe Rate
1. Improve your list segmentation.
2. Create a content map.
3. Provide individualized email frequency.
4. Experiment with email frequency.
5. Provide a different mode of communication.
6. Maintain a consistent email sending schedule.
7. Make use of exclusivity.
8. Check to see if your emails are loading slowly.
Email marketing is a game of measurements as well. It’s a well-known cliché what you can measure, you can improve.
So keeping track of your results helps to improve with each campaign. You can then make an informed decision about which metrics to track.
More importantly, you can ensure that you effectively measure your individual email performance,
You also need to measure the health of your email list, and your progress toward your goals. Tracking and evaluating the performance of your email marketing is the greatest opportunity to understand your audience.
Eventually, you can then build on what works, eliminate what doesn’t, and improve your strategy.
Let me know in the comment box, which metric you intend to track.