As for a successful email marketing campaign in B2B e-commerce, marketers may focus most of their energy on how to make a wonderful email with engaging content so the best marketing result can be seen. Let’s say a well-designed email has been created finally, it does not mean its recipients will necessarily respond to the email as you imagined, for example, clicking on a link included in the email.
If you want to know exactly the performance of an email campaign for measuring its success in helping you achieve your goals, you should figure out which metrics you’ll need to track in order to determine how you’re progressing toward those goals.
Of a pile of data which could be useful for evaluating the performance of an email marketing campaign, JumoreGlobal has generally identified 5 metrics you should pay attention to in your email marketing efforts. Let’s take a look at those metrics and make clear why they are important for your email campaign.
1) Click-through Rate
Click-through rate (CTR), a commonly used indicator for measuring the effectiveness of an email campaign, is the ratio of users who click on a specific link contained in a given email to the number of total users who view the email. It is likely the first metric that occurs to most of email marketers.
You should never overlook this important metric as it gives you direct insight into how many people on your list are engaging with your content and interested in learning more about your company or your offer.
2) Conversion Rate
Conversion rate, in the context of email marketing, means the percentage of email recipients who clicked on a link within an email and completed a desired action, such as filling out a form for lead generation, participating in an activity or purchasing a product.
No matter how many email recipients have clicked through on your email, it means nothing if they refuse to take the action that your email has asked them to take. In view of this, conversion rate is one of the most important metrics for determining the extent to which you’re achieving the goal of your email campaign, which is directly related to the call-to-action in your email.
3) Email Sharing/Forwarding Rate
This metric is defined as the percentage of your email recipients who forwarded your email to a friend or shared your email by clicking on a share button inside your email.
Email sharing (or forwarding) rate may not seem so important, but it’s a really a good metric worthy of tracking. If your existing leads are sharing or forwarding your emails, that means they are acting as spokesmen of your company and helping generate new contacts for you. In contrast, although conversion is definitely the primary focus of an email campaign, it doesn’t help you attract new leads.
So, try the best to encourage readers of an email to share the email with their friends or mates, and start tracking how many new leads you can add to your email list in this way.
4) Bounce Rate
Bounce rate refers to the percentage of your total emails sent that could not be successfully delivered to the recipient’s inbox. Email bounces are divided into two kinds: “hard” bounce and “soft” bounce.
A soft bounce is an email that couldn’t be delivered because of temporary problems, such as a full inbox or a problem with the recipient’s server. The recipient’s server may retain these emails for delivery once the problem is solved, or you may try re-sending your email message in case of soft bounces.
A hard bounce is an email that couldn’t be delivered for permanent reasons, for example, an invalid, fake, or non-existent email address. You should remove hard bounce addresses from your email list immediately, because internet service providers (ISPs) use bounce rate as a key factor to determine an email sender’s reputation. Too high hard bounce rate will make an ISP treat your company as a spammer so that your emails can never be successfully delivered.
The return on investment (ROI) could tell you how much benefit is derived from your investment in an email campaign, that is, total revenue divided by total spend.
As with other marketing channels, you should be able to determine the ROI of your email marketing. It will help you prove to your boss and your marketing team how effective email marketing is as a channel that generates new leads and drives sales and revenue increase of a business.
The above explanation of five email marketing metrics from JumoreGlobal will help you get a better handle on collecting desirable email marketing data so that you can optimize your ongoing or next email campaign and get better results.