Monitoring the metrics of you email marketing is crucial to make any necessary changes that need to be made for its further improvement. The key question before any marketing manager is- what are the important metrics that should be monitored?
Below are the five important email marketing metrics that any marketing manager should worry about:
1. List Size (No of Subscribers)
If your email subscription list is increasing then it means that your marketing campaign is doing well. If more people are unsubscribing it means that there is some problem with your campaign.
Keeping an eye on your subscriber list size is an easy way to assess whether your emails are working or not. If your list size is shrinking then you need to think whether your offers are good enough to keep the subscribers interested and whether you are sending any excessive or irrelevant emails.
2. Open Rate
The open rate shows how many people who received your emails have actually opened and seen them. This metric gives you information regarding the number of people who have shown keen interest in your business.
It also helps you know whether the subject line of your emails is engaging the target customers or not. If a particular type of subject lines are giving you more open rates than the others, you can change modify all your subject lines accordingly to give you better open rates.
3. Click-through Rate
It is not just enough if people open emails sent by you. They should also read the content in them and click on the links and calls-to-action (CTAs) included in the email. Click-through rate shows how many people have clicked on the links provided in the email. Click-through rate can be measured by using a simple equation.
Click-through rate= (click-through of links and CTAs / Open Rate) x 100
For e.g. if 100 emails of yours were opened and 40 of them had people click on the links included in them, the equation would be 40/100*100= 40%. If you have a low click-through rate then you need to make some improvements to the links and CTAs included in the email.
4. Conversion Rate
Conversion rate is the number of people who followed through on an action. If a person clicks on a link to download a free eBook, it is just a click-through. But, if they actually download the eBook from your rate then it is conversion rate. Conversion rate can be measured by the following equation:
Conversion rate= (Completed action/Open rate)* 100
If you want a better conversion rate, then you need to improve your CTA and landing page.
5. Social Sharing Rate
Social sharing rate refers to the number of people who are sharing the content in your emails on social networking sites like Facebook and Twitter. The better the content in your emails, the more the number of shares for your content.
By keeping a good track of the above five key metrics marketing managers can improve the success of their email marketing campaigns.
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