Did you know that over half of consumers enjoy receiving promotional emails from companies each week? After all, who doesn’t love a good deal? Email marketing is huge, and it’s not going anywhere anytime soon.
If your email marketing tactics are working, there are ways that you’re able to show your clients proof that their email marketing campaign is successful, and you can show them in numbers. Below we’re taking you through the five email KPIs you should be sharing with your client as soon as possible:
Click-through Rate (CTR)
Your clients will want to know whether or not their audience is reading their marketing emails. So how can you prove it to them? By monitoring the click-through rate.
The click-through rate is the percentage of people who are opening the email and taking action. Taking action can mean that they’re clicking an attached link or file—not to be confused with the conversion rate. The click-through rate doesn’t take into consideration if the person actually followed through with the call to action.
If you’re working with Agency Analytics, they’ll calculate and report on your CTR for you. Below is a screenshot from one demo MailChimp email campaign where 25% of recipients opened the email, but sadly only .9% clicked on anything in the email:
The click-through rate allows you to monitor who from your audience is actually engaging with your brand or product. With this information, you can now focus on the types of emails that aren’t doing as well as others.
How many times have you personally unsubscribed from a subscription list? Chances are, plenty of times. There are many reasons for why we as consumers discontinue our subscriptions with various companies, and these reasons are much the same for your email audience.
One of the most common reasons? They’re receiving way too many emails. And no one likes to constantly delete marketing emails. Thankfully, you’re able to track this and fix it before it becomes a problem.
According to statistics, the ideal rate is about 0.03%. So, if you’re going over that number, you need to scale back a bit. Some ways you can take that number down a notch include:
- Look at how many emails you’ve sent out within your highest month of unsubscribs. If you’re sending way too many emails, you’ll notice by your rate.
- Consider what type of information you were sending within those emails. Were they too marketed? Was the information not relevant to your client’s customer base?
- What was the tone of the email(s)? Were they dull and boring? Did you excite the audience at all? Lower subscription rates and several instances of unsubscribing may indicate an engagement problem.
This is where A/B testing can come into play and would be a very valuable metric to show clients. Learn more about A/B testing here.
Ah, the dreaded “Your email could not be sent” response. Possibly the most annoying aspect of email marketing; but it happens, and it can affect how you’re viewed in the eyes of the internet. Too many “bounced” emails result in your client looking like a spam bot. Certainly not the look you’re going for. If you scroll down on your Agency Analytics page you can see the bounce rate of that email campaign in the graph (orange below):
There are two types of bounce rates: One can be fixed by you, and the other won’t affect your reputation.
Soft bounces occur when there’s an issue with the recipient’s mailbox. Maybe they have too many emails or their server is down. Usually this won’t affect anything on your end because you can resend this email without any problem (just make sure you’re paying attention to your bounces so you know what emails to send).
These are the ones that will affect your reputation, but they’re also the type that you can fix on your end. Hard bounces happen when an email is sent to an invalid or missing email address.
Perhaps you entered the email address incorrectly. Or, the subscriber could have swiped the wrong key when they were entering in their own address. Things happen, but you can fix it. Immediately remove these addresses from your mailing list. This way, you won’t be sacrificing your bounce rate. If someone unsubscribes on their own and on purpose, you can learn how to improve that rate here. Below shows a great example of a business that offers options when someone unsubscribes to keep them engaged and gain feedback for the business:
Chances are your clients want to know exactly how many times their content is being shared, which brings us to the forward rate.
So why is this important? You and your client are always looking for potential leads, and finding them isn’t always the easiest part of your job. So, when the audience shares or forwards an email, you’re instantly gaining new contacts. Not only that, but you’ll be able to see which emails and content were the most popular. Take this information and apply it towards your future email strategies.
This is possibly one of the most important KPIs to monitor for your client. Remember that the whole point of a marketing email is to get the reader to take action. How can you know whether or not your emails are doing their job if you don’t know people are moving to the next step? Simply create URLs that are specific to your email campaign links, and you’re able to monitor who completed the task because of your email. This is known as UTM tracking, which you can learn more about here. You can then go back to your Analytics report and drill-down to see where your clicks happened in Agency Analytics:
Simply telling your client that their email strategy is working won’t do. Many of them want cold hard facts to back up your statements, and while they can take a look at their revenue and subscriptions to come to that conclusion, it’s much better for you to show them the numbers. Running these KPIs and monitoring them on a regular basis will not only benefit your relationship with your client, you’ll be able to take this data and use it for future ventures. Learn how you can keep all of this data in one place for your client here.
What metrics do your clients typically want to see when it comes to email? Are there any KPIs you would add to the list? Let us know your thoughts in the comment section below.
Image credit 3: vwo.com/split-testing/