When it comes to your email marketing strategy and sending email campaigns to your contacts, there are many metrics to pay attention to. The email marketing metrics you should always be monitoring are:
Return on Investment (ROI)
Conversion rate
Click-through rate (CTR)
Low
Opening rate
While opens are important, because they obviously tell us who opened that email we just sent, that's all it tells us. It doesn't necessarily tell us whether the campaign was successful. The metrics we'll be talking about have a different meaning than opens. When you analyze these metrics, they will not only give you more information, but they will give you an idea of what to do next.
Return on investment
Many ESPs don’t report ROI, but it’s an important metric to keep in mind. Time and time again, the channel that shows the highest return on investment per dollar spent continues to bahrain telegram lead email marketing. In Litmus’ State of Email Report , the ROI for email marketing in 2023 is 39-1. However, ending up with a high ROI doesn’t always mean your email marketing campaign will be successful.
What you want to see in your statistics is that that return is growing or increasing from campaign to campaign. If you invest the same amount and your return increases, that's when you know you have a successful campaign and strategy. If you see that the ROI is decreasing, you know that something is wrong and that you will have to make adjustments.
Conversion rate
What is considered a conversion? Well, according to the Ultimate Email Marketing Sherpa Glossary, it means that the recipient of the email takes the desired action that the sender wanted them to take. This ranges from just opening the email, clicking on a link to visit your website, or even making a purchase on your website.
Whatever the conversion action, this conversion rate metric tells you the strength of your list. Unlike ROI, which measures the success of an email campaign/strategy, conversion rate primarily shows us the degree of loyalty and interaction of your customers. Remember not to obsess over openings and adjust your conversion metrics to show meaningful actions from your subscribers.
Click-through rate
Click-through rate is very valuable to see the level of interest users have in a product or a particular topic. If you are a retail company, you most likely have several products within your emails so that customers who look at the product in the email end up purchasing it on your website.
Well, with click-through rate you can measure the level of interest in each product you've included in your email. We can tell how interested people are by the number of times they click on that single link. Email service providers have the technology to tell how many times a link has been clicked. When you have a high click-through rate and an especially high rate of repeat clicks from a single person, you can safely assume that person likes the product or has a strong interest in it.
Unsubscribes
No one wants to see users unsubscribe. Especially in email marketing, when all of your contacts should want to receive your emails. However, humans are finicky and people do things for a multitude of reasons. A few unsubscribes here and there are to be expected. So what good does an unsubscribe rate do for you?
When your contacts sign up for your list, you need to ask yourself why they signed up. Did you run a promotion to get people to sign up? Did they sign up from your website? When a person unsubscribes from your email, it's because they've lost that reason to stick around. So when you start seeing more and more unsubscribes, you might want to stop and take a look at your emails to see what might be causing a high unsubscribe rate. That way, you can see cause and effect.