Measuring Email Marketing Success: Key Metrics and Analytics

Email marketing has been among the most effective strategies that widen customer reach. With over 4 billion email users daily, this strategy can be quite promising for every business or enterprise not only looking to reach their customers but create more personal connections.

Email marketing benefits companies and businesses by improving sales significantly when effectively executed. It also increases leads and improves site traffic, all contributing to successful companies. If you’re starting with email marketing, measuring marketing success is essential. It keeps you in the loop of progress and brings you up to speed with evolving trends. This article examines the crucial metrics and analytics to help you measure your email marketing success.

Understanding Email Marketing

Email marketing is a strategy businesses use to improve customer reach and involves using direct emails to promote their products and services. It’s a more personalized way of advertising that helps raise brand awareness and build more profound customer connections.

59% of marketers using email claim that this strategy can have the best return on investments (ROI). However, that takes much of your strategy assessment and considering the key metrics. Ideally, working toward achieving success is as essential as measuring it. That means having a clear roadmap to measuring your progress with email marketing may guarantee its success.

How do you measure email marketing success?

There can be quite a lot of jargon around measuring your email marketing success. Generally, however, achieving that can be pretty straightforward if you understand your way around it. Here are the metrics and critical analytics for measuring your email marketing success.

1. Click-Through-Rates

CTR is the rate at which clients click and open your sent emails. It’s among the most direct indicators of success, allowing you to understand whether or not your strategy works promptly. A high CTR means your strategy is effective and your clients love your offerings, which can be a recipe for success. Conversely, a low CTR should indicate your plan needs more improvement.

To measure CTR, here’s the formula you should use:

(CLICKS/IMPRESSIONS OR NUMBER OF DELIVERED EMAIL) X 100

A good CTR should range between 10% and 20%. A higher figure can be better, but lower rates may indicate issues that would be best solved.

2. Forward and Sharing Rates

How many times have your clients forwarded your emails? A clear-cut answer could help measure your email marketing success, and the more that happens, the higher it can be. Unlimited emails that connect with audiences profoundly and inform them about your crucial business area can get more forwarding rates.

Email doesn’t usually contain a feature that informs you whether or not your clients have forwarded them. However, it’s hard to tell if you use an undetectable image pixel on your email plugin to determine that. This pixel may act as a tracker that logs your email recipients’ views and forwards your email.

To calculate your email forwarding rate, use the following formula.

(NUMBER OF FORWARDED OR SHARES / NUMBER OF DELIVERED EMAILS) X 100

A high forwarding and sharing rate above 20% can indicate success in your email marketing campaign.

3. Open and Bounce Rates

Your emails could hit a dead-end, and prospective clients may not bother opening them. That could indicate a lower open rate, hardly showing signs of your email marketing success. Although available rates may not be comprehensive indicators for email marketing success, they can be viable solely because open emails don’t necessarily show that people have read them.

To calculate your email open rates, use the following formula:

(NUMBER OF EMAILS READ / NUMBER OF EMAILS DELIVERED) X 100

Open rates can help you measure your engagement. A higher available rate could mean that your emails touch your recipients and profoundly connect with them.

On the other hand, a bounce rate implies the percentage of emails that fail to reach your recipients’ inboxes, including their spam and inbox folders. If you’re wondering, why did my email go to spam after sending it? Clean up your email list, offer a double opt-in and provide an email reference center. Bounced emails typically return to you and are indicated as undelivered. A high bounce rate could mean your strategy needs more work.

4. Unsubscribe rates

Once subscribed, it’s best to ensure your content stays relevant to your recipients in your subscriber list. Otherwise, they may opt-out, indicating your strategy needs a little revamp. Building an email list takes a lot of effort because convincing people to get frequent emails and be okay with it can be an uphill task.

You can use the following formula to measure your unsubscribe rate:

(NUMBER OF UNSUBSCRIBES X NUMBER OF SUCCESSFUL EMAIL DELIVERIES) X 100

To minimize unsubscribe rates, ensure your emails are mobile-friendly, not overly promotional, and hit the point home. Besides, it’d be prudent to ensure that they inform, educate, and offer more value than your clients anticipate.

5. List Growth Rate

Your emails could grow or shrink; either way, it provides a basis for determining your email marketing success. A growing subscriber link could mean that your email marketing campaign is successful. However, the opposite can be true. But how do you precisely determine your email growth rate without generically looking at your subscriber list? Here is the formula.

(NUMBER OF NEW SUBSCRIBERS – NUMBER OF UNSUBSCRIBES) / TOTAL CONTACTS

It would help if you periodically determined your list growth rate to measure success. Doing that every other month can help you understand whether or not your strategy is effective. Remember, it doesn’t always matter whether you are doing SEO for your e-commerce or sales page, email marketing always adds value to your marketing effort, and growing your list should be within your focus.

6. Email Marketing ROI

How much you gain over the long haul determines your email marketing success. You may spend a sum funding your email marketing campaigns. It would be best to record what you gain from your effort. Here’s how to measure your general email marketing ROI:

(MONEY EARNED FROM THE MONEY SPENT / MONEY SPENT) X 100

Your ROI matters because it informs you of your campaign’s profitability and helps you allocate resources wisely. Besides, it can inform your decision-making on making changes that make your email marketing campaign successful.

Conclusion

Email marketing has been the traditional way of advertising for decades. It’s now even more critical than ever, and understanding the strategies that make it effective should be a no-brainer. It’s prudent to also determine how successful your email marketing is to inform general business decision-making.