There are many data to keep track of for email marketing success – from open- and click-through rates to conversion and unsubscribe rates. There are plenty other metrics to keep track of, but for many marketers, all those data could be overwhelming rather than useful.
So, if you find yourself stuck not knowing what to measure to get 1,000 new subscribers in your email list and/or get your emails opened, read, and clicked even more, never worry. Here are the key email marketing metrics that you should be tracking and get the most out of the data you receive.
Top key email marketing metrics that matters the most:
Metrics #1: Delivery Rate
This is the most vital metric to monitor in your email campaign. It tells you whether you stood a chance at success.
These days, more email providers use junk and spam folders, and if someone your email(s) end up inside there, then ‘bounce backs’ will not be enough to measure deliverability of your campaign. This is because your emails never got a chance of being opened in the first place.
Metrics #2: Open Rate
The open rate is another key measurement of your email campaign success. It does not tell you all that much, and only shows you a data showing a number of recipients who actually opened your email.
There is one flaw with this metric – the open rates are measured using an ‘impression pixel.’ So, for example, if your subscriber’s email service provider does not automatically download images inside your emails, then it will not register it as an opened email.
Even with this flaw, the ‘open rate’ metric is still worth comparing the efficiency of your email subject lines and tracking any major changes or long-term trends.
Related article: The 7 Best Email Subject Line Styles to BOOST Your Open Rates by 47%
Metrics #3: Click Rate
The ‘click rate’ is another key metric that you should be tracking. It shows you the number of people who actually clicked a link inside your email message.
Most probably, your email service provider has already set up tracking URLs for each CTA, making it very easy to compare the effectiveness of the links you place inside your email messages. It also gives you information about the on-site use behavior.
Quite similar to click rate is another metric key click-to-open rate that gives you an accurate measure of how well your email marketing campaign is performing. It tells you the percentage of unique clicks by your subscribers to a number of unique opens.
Metrics #4: Bounce Rate
The bounce rate is another key metric that tells you the amount of emails that did not make it through to the email addresses of your subscribers. This may happen because of a non-existent or invalid email address.
For you, it may not seem like a big problem, but if you put yourself into the shoes of your internet service providers, a high bounce rate often is the trademark of spammers.
That is why you should be doing a regular sanitation checks to remove invalid and/or non-existent email addresses, otherwise, you may risk being classified as a spammer.
Metrics #5: Conversion Rate
The conversion rate is also a key metric that you must be tracking. It shows you how many subscribers on your email opt-in list actually clicked through your email and took the desired action.
Taking action does not necessarily mean sales. It may refer to any action that is pertaining to your online business – downloading a white paper, a free e-book, or even booking for a test course, etc.
As you continue to keep track of your conversion rate, you will gain a good idea about the best time to send your emails, or the subject lines you should be using in your emails, or the types of emails you should be sending to your readers that will help boost your open, read, and click-through rate.
However, remember that the conversion rate of your emails is also affected by other key factors, such as the email design and also your product offers, so it is always a good idea to compare conversion rate from your newsletters against other marketing efforts.
Metrics #6: Unsubscribe Rate
Over time, it is possible that your subscribers will become tired of your marketing messages and want to opt out.
But remember that the ‘unsubscribe rate’ is influenced by several factors, such as the quality, relevance, and frequency of your email marketing messages.
So, in addition to all other metric mentioned above, you must also keep track of the ‘unsubscribe’ rate to make sure you are not repelling your potential customers with your marketing messages.
In general, an unsubscribe rate of around 0.5% or lower is exemplary.
Metrics #7: Price / Email Sent
This is one of the most important metrics as it gives you an accurate ROI of your email marketing efforts. You cannot trick yourself when you are earning only $3 from each email sent while the cost of sending each is $5, can you?
So, the price per email sent is very important to keep track of the profitability of your email campaigns.