Chamber Challenges March 2020- 03
We will be focusing on one Chamber Challenge each month.
We encourage all Chamber members to participate. We want to help our members grow their businesses and learn new ways to reach their customers!
This Month's Challenge is:
Create a Newsletter
How To Measure Email Marketing Success
Email marketing is easy to track and measure. Most email marketing platforms offer a host of data that will help you gauge the efficiency of your email campaigns.
Your task is to find those metrics that suit best your email marketing goals and to keep an eye on them.
Here are the most important email marketing metrics, that will help you measure the success of your email marketing campaigns:
Deliverability- Deliverability is one of your primary metrics. If people don’t get your emails, there is no way they could read them. Maintaining high deliverability rate is the mandatory step one for conducting successful email marketing.
Open Rates- Your email open rates show the number of people (in percentage points) who open your emails. The open rates give you idea about the relevance of your email campaigns to your audience. If people like what you email them with, they will be more willing to open, read and interact with your emails.
Click-through Rates- The click-through rates (CTRs) measure better the value of your email campaigns than the open rates. Usually displayed as a percentage from the total email opens, the CTR measures what percentage of your readers clicked on the links in your email.
Conversion Rate- Conversion rates give you data which you could use to measure the financial success of your email campaign. In order to measure conversion rates of your email marketing you will need to connect your campaign with your website analytics tools. The conversion rate shows how many people actually reached the end of your conversion path – from email, to your website, to a sign up form or a product purchase. Conversion rates measure both direct purchases and delayed purchases. This is when a client comes back to your site from organic search or direct link, but he first found about your latest offer via email.
Bounce Rate- There is a number of emails that will not reach your client’s inbox and the metric measuring this is called bounce rate. Internet service providers monitor the bounce rates closely, because they play major role in determining sender’s credibility. There are two types of bounces – soft bounces and hard bounces. When your client’s inbox is full and your message can’t reach it, this is a soft bounce. Some servers will try to deliver the message again at a later point, but you may resend the campaign to the bounced emails too. When you try to send an email to an email address that is closed or doesn’t exist and your email message bounces back, this is a hard bounce. You should not keep addresses with hard bounces on your list, because this will affect your sender credibility. A bounce rate of less then 3% is considered harmful, but don’t rely on this and make sure to clear your list after each email campaign.
Unsubscribe Rate- The unsubscribe rate shows you how satisfied your clients are with the content of your emails. A typical unsubscribe rate is 2%, everything above means that you have to work a bit more on your content strategy. To keep unsubscribe rates low, you should email frequently enough, so people don’t forget about your emails and that they have subscribed for receiving them.
Abuse Reports- When an email subscriber marks your email as spam, this goes in your abuse report count. This may happen to any sender and with any campaign. Some subscribers just find it easier to mark an email as spam, than to open the email and look for the unsubscribe link. What is more importation is that abuse report is not only a metric on your email marketing software dashboard. It is an actual spam complaint that goes to your client’s ISP, which may then block all the emails sent from your email address. It is important that you keep track on the abuse reports in your account. Although, your email service provider is going to alert you if too much abuse reports are being filed against you.
Revenue- If the goal of your email marketing is to generate direct sales and not just to stay in touch with your clients, it is very important that you keep track of your email marketing ROI. For e-commerce businesses the revenue will be the most important measure of success. Use Google Analytics tools to measure the revenue coming from your email marketing campaigns.
Have you had success sending a Newsletter consistently for your business or organization? We want to hear it! Share with us on Facebook or email us at firstname.lastname@example.org.