Hajra Naz
The greatest tool for companies writers, and artists is email marketing. Only using open rates for evaluating performance ignores the wider picture. The open rate provides insight into the quality of our subject line.
This is only one part of email marketing. There are six keys that you should be aware of also the monitor.
1. Click Through Rate
It shows the number of recipients are click on a link in your email. Your CTR can be 5% if you send an email to 1000 subscribers and 50 of them click on a link in the message.
- A high CTR suggests your material is being seen, and the link is converting well.
- You can determine which link or offer appeals to users by including various links in different emails.
- A CTA that is well-defined action-oriented, and segmented will increase the CTR percentage.
2. Conversion Rate
This useful indicator shows the proportion of clicks that resulted in desired actions such as downloads sales etc.
The number of conversions divided by the total number of clicks and then multiplied by 100 is the conversion rate. The conversion rate can be 20% for example if 50 individuals clicked on a link and 10 of them bought anything.
- It aids in ROI measurement.
- A successful email marketing campaign is indicated by a high conversion rate.
- Conversion rates are increased by customized relevant content and an easier converting process.
Read More: 5 Reasons Why Email Marketing is Essential for Your Business
3. Bounce Rate
Bounce rate refers to the proportion of emails that do not make the subscriber inbox itself.
There are two kinds of bounces: soft and hard.
- Temporary problems such as a full inbox or server troubles might cause soft bounces.
- When the email address is incorrect or absent hard bounces occur.
- Bounces hurt our email delivery and reputation.
- The only way to address bounces is to clean and remove the invalid or inactive email address.
4. Unsubscribe Rate
Although these metrics are difficult they are a necessary component of the game. They display the number of readers of your email who chose to opt-out.
- A sudden increase in unsubscribe rates suggests that you are either spamming with too many emails or that the emails are irrelevant.
- The only methods to stay in the game are to personalize and provide value.
5. List Growth Rate
It allows you to check whether your email list is growing reducing or remaining the same.
For calculate the list growth rate ‘subtract the number of bounces’ and ‘unsubscribes from the number of new subscribers dividing by the entire list size’ and then ‘multiply the result by 100’.
- It indicates whether or not our email content is effective.
- Providing an attractive lead magnet enhancing social media on websites, and working with other entrepreneurs to reach new markets.
Read More: How to Compare and Choose the Best Email Scripts
6. Return on Investment
ROI relates the money generated to the expenses spent to determine how effective your email marketing is overall.
By removing the full cost of the email campaign from the total income, dividing that sum by the total cost, and then multiplying the result by 100, one can determine what ROI is.
- Increasing sales and return on investment is possible only by improving content to satisfy customer needs.
Conclusion:
Email marketing is much more than open rate which is only the beginning. We can maximize our sales and boost ROI by becoming experts in and keeping an eye on those six KPIs.
Are you monitoring the appropriate metrics for email marketing? If not get started now to see how your email marketing can be transformed by these insights.
