1. Click-Through Rate (CTR):
- CTR is a vital metric to gauge email engagement. To calculate it, divide the unique clicks by the total email deliveries and multiply by 100. This percentage reflects how many recipients clicked on a link within your email.
- Click-to-Open Rate (CTOR) measures the percentage of clicks based on unique opens. It can provide insights into the effectiveness of your email content.
- CTR varies by industry and email type, so compare it with industry benchmarks for context.
Optimization: Clean up your email lists to improve deliverability and CTR. Optimize subject lines for mobile viewing, create curiosity-gap subject lines, and perform A/B testing. Ensure that your CTAs are clear and easily visible.
2. Active on Site:
- This metric goes beyond CTR by tracking recipient behavior on your website after clicking through from the email. It can provide valuable insights into product interest and buying intent.
- Utilize “active on site” data to segment email recipients based on their behavior, enabling more personalized and targeted marketing.
Optimization: Segment your lists effectively based on demographic and behavioral data. Create interactive content on your website, offer a seamless browsing experience, and ensure mobile optimization.
3. Conversion Rate:
- Conversion rate measures the percentage of recipients who take a desired action after clicking on your email, such as making a purchase. Calculate it by dividing total conversions by total email deliveries and multiplying by 100.
- Conversion rate can vary by industry and email type, so it’s essential to consider industry benchmarks.
Optimization: Simplify the purchase process, provide multiple payment options, and offer detailed product information. Implement live chat support and ensure mobile optimization.
4. Revenue per Recipient (RPR):
- RPR helps determine the value of each email recipient by dividing the total revenue generated by your email campaigns by the total email deliveries. It’s a key metric for assessing email campaign efficiency.
- The benchmark for RPR varies based on your brand’s pricing structure.
Optimization: Focus on list segmentation, personalized content, and Customer-First Data™ to improve RPR. Deliver what your audience wants by analyzing the relationship between metrics.
5. Deliverability Rates:
- Deliverability rates represent the percentage of emails that reach recipients’ inboxes. It’s crucial for ensuring that your emails are not marked as spam or bouncing.
Optimization: Regularly clean your email lists to remove unengaged subscribers. Implement a sunset flow for inactive subscribers and use double opt-in to confirm subscriptions. Make it easy to unsubscribe and create personalized, relevant content.
6. Unsubscribe Rate:
- Unsubscribe rate measures the percentage of recipients who choose to opt out of your email list. It’s important to monitor it alongside list growth rate to understand its implications.
Optimization: Review your CTR, deliverability, and email content to address potential issues causing high unsubscribe rates. Consider the reasons behind unsubscribes and adapt your email strategy accordingly.
7. List Growth Rate:
- List growth rate tracks how quickly you acquire new subscribers, but its significance is limited without high engagement.
Optimization: Encourage sign-ups with incentives like discounts, partner with complementary brands, and use referrals. Ensure that new subscribers are engaged and provide value.
8. Return on Investment (ROI):
- ROI measures the financial return from your email program compared to the costs associated with it. It’s crucial for assessing the overall effectiveness of your email marketing strategy.
Optimization: Analyze metrics in relation to each other, as no single metric guarantees a higher ROI. Focus on list segmentation, personalized content, and human empathy to improve ROI.
Remember that these metrics are interconnected, and optimizing one can impact others positively or negatively. It’s essential to take a holistic approach to email marketing and continually refine your strategies based on these metrics in 2023.