Successful email marketing involves a lot of steps, one of which closes the loop on the activity and can provide direction for future campaigns -- this step is reporting results. Here are six of the most important email campaign metrics you should track to make sure your email marketing efforts aren't going to waste.
1. Clickthrough Rate (CTR)
CTR is among the most crucial elements of a comprehensive email marketing report. Businesses need to know exactly what percentage of people who view their emails are actually engaged and clicking through. You can easily track CTR for each individual email, and depending on how many people are actually engaged, you can then determine how to change your emails to improve this number.
2. Bounce Rate
The bounce rate is the percentage of emails sent that are never delivered to the targeted recipient's Inbox. There are two types of bounces: hard and soft. Soft bounces result from temporary issues with valid email addresses, such as a server problem or full Inbox. In the case of a server issue, the recipient should receive your email once the server issue is resolved.
When an email hard bounces it means the email address no longer exists on the server. In this case, you should make sure to remove the addresses from future emails because Internet Service Providers (ISPs) are likely to view a large percentage of hard bounces as a spamming attempt.
3. List Growth Rate
The list growth rate is the rate that your email audience list grows. Keeping track of this metric can help you gauge how effective your marketing efforts are at attracting new email subscribers. If you find that your list growth rate is decreasing, it may be time to revamp your marketing campaigns so you can continue to build your audience.
4. Email Forwarding and Sharing Rate
A large number of people sharing and forwarding your email is also an indication of a successful campaign. How many people have clicked a "share this" button on a particular email? Who forwarded it to other indirect recipients? The more your messages are shared, the farther your reach will go.
5. Conversion Rate
When you include a call-to-action in an email, you want to know how many recipients are performing the desired action. These actions could include filling out a lead generation form, downloading an ebook, requesting a service, or buying a product from an online store. You can easily track conversion rates by combining data from your web analytics and your email platform.
Return on investment is another one of the most important email campaign metrics to track. Businesses need to see their total marketing expenses against their marketing generated revenue to determine whether their campaigns are profitable. If more money is spent on email marketing than gained, you will want to move your focus to other marketing activities or make changes to your email campaigns that will get better results.
Consistently providing data on these important email campaign metrics will give you the insight you need to make the changes necessary to your campaigns so that you can grow subscribers, followers, leads, and customers.