4 Best EMAIL MARKETING METRICS To Optimize Engagement
Did you know that email marketing is one of the highest converting marketing channels? Are you getting the MOST you can out of your email marketing efforts by using your email marketing metrics?
By the end of this video, you will the 4 most important email marketing metrics to analyze, why they are important and what they are telling you. Subscribe to my channel below and hit the bell to get notified when I post a new video, every single Tuesday.
Email marketing is one of the highest converting marketing channels that entrepreneurs can use to increase their sales & revenue. Yet, it is one of the channels with the least metrics to analyze.
Does that mean that you shouldn’t be spending much time analyzing your email marketing metrics? That is a big, fat, NO.
Because email is such a high converting sales channel, you definitely want to know how it’s performing, what’s working and what’s not because just with a little testing, tweaking, and making some optimizations can make a HUGE impact on your bottom line.
I’ve had clients make tens of thousands of dollars off only 1 or 2 emails. Seriously. And even though there aren’t a ton of metrics to be analyzing, it’s important to know what metrics you should be looking at and what those results are telling you so you can make smarter decisions in your marketing and in your business.
So let's dive in. Shall we?
Here are the four most important email marketing metrics to increase engagement and conversions.
Number one, open rate.
The open rate is the percentage of people who are sent that email, who actually opened it pretty straight forward. I know the typical benchmark for this metric is somewhere between 15 to 20%. If your open rate is higher than 20%, that is awesome. That means that your audience loves you and cannot wait to hear more from you.
If your open rate is less than 15%, there are two things to test and tweak the subject line and the sender name does the subject line, entice people to open your email and do they know like, and trust that name of who that email is coming from nailing. This metric is critical because the biggest hurdle with email is getting people just to open it comment below and let me know what's been the most fun or engaging email subject line that you've used to increase the open rate of your emails with your audience.
I cannot wait to hear your responses.
Number two, click to open rate.
The click to open rate measures the number of people who actually opened the email, what percentage of those people also clicked the links that were within the email. Now, many people tell you to look at click rate instead. However, the click rate requires the audience to take two actions and open, and then a click, which makes it harder to diagnose what is actually working in that particular email. And what isn't because the click to open rate is measuring the click rate of people who have already opened the email. It makes it really easy to diagnose.
What's not working in this example. It's something specifically in the body of the email. A typical benchmark for this metric is around 15 to 20%. Whereas if you're just looking at click rate that typically hovers around three to 5%, if your click to open rate is below benchmark, check your email, copy the clarity around the action that you want the audience to take and the CTA and offer itself.
Number three, email conversion rate.
Now this metric usually only applies if the email is directing your audience to a sales page to make a purchase from you, but it is still super important. The email conversion rate measures the amount of people who completed the sale based on the email that you sent them. So the number of conversions divided by the number of people that you sent that email to.
If you want to learn more information about how to calculate conversion rate and why this specific metric is so important to measure, check out this related video that I created just for you, email conversion rate measures, the entire audience journey via email to your offer. And the benchmark is pretty low. Maybe only one to 2%, if your metric is below benchmark, but open rate and click to open rate are good. Take a look at the entire customer experience or journey.
Is there alignment between the email and the offer? Does the offer align with your audience? Is there a consistent messaging and branding throughout each step of the journey, keep testing to optimize the full experience for your customers?
Number four, emails, unsubscribe rate.
Now, before I dive into this metric, I want to say that I, 100% believe, that we should be excited about people who unsubscribed from our mailing list. Why? Because they are not our ideal customer. And by unsubscribing, they are saving us time and energy of trying to sell them when they are not a fit for us. And we are not a fit for them. But with that being said, it's also important to track your unsubscribe rate.
A typical healthy unsubscribe rate is about one to 2% per email. Yes, you heard that right. One to 2% per email is typical attrition, but what if you have an email that has a much higher unsubscribe rate than that?
Well, I would take a look at the email body and CTA was the email a different style than your typical emails, different branding is your offer a bit out of left field for your audience? Did you push the edge or take a stance that may have rubbed people the wrong way? Now none of these things are necessarily a bad thing. It's just a good thing to actually be aware of.
If you intended to pivot or to take a stand, then all of this is totally fine, but if not, is there something you want to learn from this going forward again? It's just all something to be aware of. Email is a powerful channel that can drive the majority of your sales and revenue. Especially when you start monitoring your email marketing metrics and making optimizations based off of them. Now, you know what metrics to look at to determine the success of your product launches.
The next step is to understand exactly what those metrics are telling you and what specifically you need to tweak for your next lunch.
If you made it this far, then you're ready to face your numbers head on to scale your business in smarter and more efficient ways. And I've got something just for you.
Check out my worksheet and step-by-step video training for entrepreneurs called the easiest way to interpret metrics and numbers to make your next launch best yet. The link is below in the video description.
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If you're ready to take your business and marketing to the next level, using metrics systems, make sure you check out these related videos on my channel. Cheers friend to your business success!
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