Just like every doctor needs to know specific details about every disease and drug, like every lawyer must know every legal term, every email marketer has to know certain metrics in order to be successful in their online job.
That’s why in this blog we will go through 7 metrics every email marketer has to know:
1. Open Rate
We start out from the easiest one to understand, but still an extremely important metric. Open rate simply tells you how many subscribers opened the email you sent.
Open rates can give you valuable insight into the success of your email’s subject line. Studies show that emails with subjects that include the subscriber’s name have an open rate of about 29 % which means 29 out of 100 people open said email.
Most email campaigns average an open rate of about 24 % so if your email campaign manages to get a bigger open rate, you are doing it right!
2. Click-Through Rate (CTR)
Click-through rate is another important metric that can help you find out how well your email campaigns are doing. CTR measures the amount of people who clicked on links in your email. For example, if you include a link to redeem a gift in your email, CTR will measure what percentage of people who opened said email clicked on the link.
One of the best ways to increase your CTR is including links everywhere it would make sense. Also, include a clear call for action button that every subscriber can see to redeem your offer.
Click-through rates will always be much lower than open rates, with the average CTR being a little over 4 %.
3. Conversion Rate
While the click-through rate shows you how many people clicked on a link in your email, a conversion rate will tell you how many people completed a specific action after clicking on the link. Let’s say you included a link to a website that sells laptops. The conversion rate would then tell you what percentage of people who clicked-through actually completed a purchase.
Monitoring conversion rates is essential because they tell you a lot about your return on investment. You know how much you’ve spent on an email campaign, so you should also be able to know how many subscribers are converting and that’s how you can determine if the money you are spending is paying off.
4. Bounce rate
Bounce rate is another essential metric to keep an eye on. It measures the amount of subscribers who didn’t receive your email at all. There are two types of bounces too: soft bounces, that track temporary problems with email addresses and hard bounces that track permanent issues with them.
Measuring bounce rates and comparing them to open rates will let you know the quality of your subscriber list. Having a high hard bounce rate indicates that your email list may include a lot of fake, old email addresses, or emails with mistakes in them.
One of the best ways to decrease bounce rates is requiring a double opt-in from your subscribers. This means they have to verify their email address. While it is a good option that lets you maintain the quality of your email list, it will lower the amount of people opting-in.
This is another easy metric to understand and to track. Most email providers will let you know how many people decided to unsubscribe after receiving an email from you.
While a lot of email marketers get discouraged by seeing how many people are unsubscribing, experts know that un-subscribers do make your email list more polished, because you are left with more people who actually care about what you advertise.
In my next blog we will look through 5 more key metrics every email marketer has to know. You can find it HERE.