Marketing metrics are a hot topic for new companies. As a business owner, you need to know how your marketing efforts are performing, but there are so many things to track that it can be overwhelming! Instead of diving into every possible metrics for email marketing and tracking tools out there, let’s focus on five key metrics that will help you evaluate the success of your campaigns.
Open Rate is the percentage of emails that are opened. It is one of the most important metrics to measure because it’s a good indicator of how relevant your emails are to your subscribers. For example, if your open Rate is low, it could mean that you need to refine the content to make it more exciting or appealing. You can also use A/B testing and split-testing to determine the best way to communicate with your subscribers, which will help improve their overall experience and increase engagement over time.
Click Through Rate
The click-through rate (CTR) is the number of clicks on an email divided by the total number of opens. It measures how well you craft your emails and how many people read them. If you have a low CTR, that means that not many people clicked on links in your email to complete an action—like visiting your website or making a purchase online—so you may need to do more research into what’s going wrong with those emails.
The bounce rate is the percentage of emails that are returned as undeliverable. The higher your number is, the more emails are being sent to invalid email addresses (which means your message never reaches its intended target).
The lower your bounce rate, the more likely your messages will reach their intended recipients. In other words: if you see a high bounce rate and don’t know why people aren’t opening or clicking on links in those emails, chances are good that it’s because they never got them in the first place!
The forwarding rate is the number of people who forward your email. It’s a pretty simple metric, but it is essential to know how many people share your emails with others. This can tell you how often your emails are sent to new customers or prospects, which helps you see how effective your marketing campaigns are.
Here’s a quick list of things conversions can be:
- How many people bought a product
- How many people signed up for your newsletter
- How many people clicked on an ad or link to your website
- What percentage of visitors who view the page convert into leads and customers
When starting out, you should focus on getting as many conversions as possible and then worry about optimizing it later.
“Ultimately, you can have different goals for your email marketing campaigns. Knowing why you’re measuring is as important as knowing what you’re measuring, and this is particularly true when it comes to tracking conversions,” says Maropost experts.
In the long run, the most important metric is conversion rate. This is what you want to be optimizing for, and it’s something that will help drive revenue and increase your bottom line. However, other metrics can also help guide this process—such as open or click-through rates. Using these metrics in conjunction with conversions over time, you can see the impact different strategies have on improving them (or not!).