Email marketing is one channel that can’t be ignored when taking your business online because you can directly contact your target audience. It is cost-effective and can bring more personalization to your campaign.
It is the most trusted form of communication with 77% of consumers choose email over other forms of online communication.
A well-executed email marketing strategy can generate leads, engage customers, boost sales, reduce marketing costs. But how do you know your campaigns are is doing justice to your efforts? Is email marketing helping you achieve your goals?
At the end of the day, it doesn’t matter how optimized your emails are if it can’t provide the desired result.
Determine what your goals are for email marketing and then decide how you will measure your success. The only way is to measure key performance indicators (KPIs).
KPIs are the metrics that help you build a strong base for your campaign. It shows how well your strategy is performing relative to your business goals.
Being able to see what’s working and what’s not can help you modify and improve your email marketing campaign.
The next thing you need to do is figure out which metrics you’ll need to monitor in order to determine how well your strategies are performing.
Here’s a list of the most important email marketing KPIs.
- Deliverability rate: percentage of email that successfully delivers to recipient inbox.
- Open rate: percentage of people who opened or viewed your email.
- Click- through rate: percentage of people who click one or more links in your email.
- Conversion rate: percentage of email recipients who clicked on a link within an email and completed a desired action.
- Bounce rate: number of emails that didn’t reach the customer’s inbox.
- Unsubscribe rate: number of people who unsubscribe from your email.
- List growth rate: rate at which subscriber/email list is growing.
Benchmark Report
Though the numbers vary industry to industry, below mentioned average rate can help you to analyze where you are standing at now, so you can plan your strategy accordingly. You can see the full list here.
The average deliverability rate: should be as close to 100 percent as possible.
Average open rate: 20 percent
Average click-through rate: 3.0 percent
The Average conversion rate: depends on your goal
Average bounce rate: 0.42 percent
Average unsubscribe rate: Try to keep it below .05 percent
The Average list growth rate: there no specific rate
To make your email more effective learn how to design your email – Email Design Hacks.
There you have it. Those are some of the input from my side. Email marketing can be a powerful platform to reach your targeted audience and achieve the desired result.
Success can only be achieved by having a clear understanding of goals, tracking the right metrics and knowing what is working and what is not working.
Do you know other email marketing KPIs that are more effective? Let us know in the comment below.
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