In the business world, the pivotal skill that leads to success is analyzing the consumer behavior and adapting your business strategy to it. Similarly, the success of email marketing lies in the skill to analyze subscriber’s responses and adjusting your strategy accordingly. Email marketing analytics reveals the dynamics of the consumer responses and also guides the future email campaigns.
So now let us discuss how we can analyze email marketing campaigns and adapt to it.
1. CTR- Click through rates
CTR is one of the most important metrics in the email marketing analytics report. It is the percentage of recipients who clicked on the links mentioned in the email. The most common metrics tracked by marketers is CTR. It is a detailed picture of the subscribers’ response, as it gives a clear picture of each individual email you’ve sent. CTR shows the percentage of people that are engaging with your content, brand or offers and also the things that they wish to know more.
2. Hard Bounces
When you send a message to an email address that no longer exists it is a complete waste. Hence, most major service providers closely monitor bounces. Remove people from your list even after one single bounce. Try to manage your bounces. If you procrastinate it will lead to reduced delivery rate.
3. Earnings per click
Keep your email marketing campaign tied to specific goals. For example, the audience should either fill out an order form, browse the website or request a quote. You should know the income that is generated from email marketing. Track the earnings from email marketing efforts just like you track PPC efforts or any other marketing efforts. Look closely at the email reports to determine the profitability of your email campaign.
4. Shared emails
It’s the percentage of email recipients who either clicked on the ‘share this’ button, post on the social network or ‘forward to a friend’ button. When subscribers share your content, you develop new contacts. You can also include Referral sharing in your emails and track it to understand which of your loyal customers and turning into brand promoters for you. Keep a track on sharing rates to understand the types of content, products and offers shared as they reveal customer preferences.
5. Churn rate
It measures the growth of your subscribers’ list after hard bounces, complaints and unsubscribes are taken into account. Also, the churn rate shouldn’t be more than 25% per year. This indicates that most marketers should add 25% new subscribers to their list to maintain the same size of the subscriber’s list.
Here is how you can optimize email campaigns based on these email metrics:
Break down your email list into smaller segments to engage your customers and send targeted offers and messages to subscribers based on their interest. This segmentation can be done based on the response of customers, which links they click, what content they share with friends or on social media.
2. Build your email list
Based on your churn rate and hard bounces decide how many new subscribers you need to build to maintain or increase the number of subscribers for your business.
Based on earnings per email, click through rates and shared emails, you can judge what kind of CTAs attract customers the most. Enhance the CTAs that work best for your customers. Generally, customers like CTAs that are short, clear and visually appealing.
Send different offers using subject lines to customers and see how they respond to each of these emails. Furthermore, their responses will indicate their interests based on which you can send relevant emails.
In addition to the above metrics, you can learn and evaluate a lot from the email marketing analytics reports which you can use to create successful email strategies. The key to successful email marketing is focused and targeted campaigns that are built on consumer responses indicated by email metrics. Contact us to know more because at Juvlon we simplify this process to optimize your email marketing efforts.