Email marketing is still one of the most cost effective, and highest return digital marketing methods available. But not everybody knows how to track a successful (or unsuccessful) email campaign. Email analytics are crucial to getting this insight, and there are a few important metrics that you should look at.
Click Through Rate
The click through rate is the percentage of people who click on a link in an email, versus those who received it. Ultimately, any email marketing campaign is intended to get the received to click to a website, or click to contact. The CTR is the simplest, and most important way to determine how effective an email campaign is.
CTR = total clicks/delivered emails
As with all digital marketing, the conversion rate is generally considered as the great indicator of success. Of those people who clicked on your email campaign, how many of them did you convert to a client or customer? If this number is low, then you need to reconsider who you are sending your emails to, and what they see when they click in your emails.
Conv. rate = total sales or leads/total clicks
Often overlooked as an important number to track, the bounce rate gives you an indication of the health of your subscriber list. If a large or increasing proportion of emails are bouncing, you should consider cleaning out your list.
Bounce rate = total bounced emails/sent emails
As part of any great email marketing campaign, it's important to gain new subscribers and keep them coming back for more. You should always integrate a highlighted signup form on your website, and encourage people to add their email to your list.
Growth rate = total new subscribers/total subscribers
Bam. This is the biggy. Your email ROI is a simple indication of whether you are generating enough revenue from your email campaigns to justify your investment. For example, if you spend $1000 per month on email marketing, but only generate $250 per month from emails, should you still be running these type of campaigns?
ROI = total sales from email/investment in email
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