The 4 Email Marketing Stats that Matter and Why
Most small business use some sort of software for their email marketing efforts. Whatever software platform you use, most will provide you with basic reports of comprehensive analytics after your email has been sent.
While that data can be overwhelming, there are four email marketing stats that matter.
These are the tell all email marketing stats that are going to help you make your email marketing better and, ultimately, get you more of the leads/sales/website visits you're looking for. Each one of these numbers can be the indicator of areas in your email marketing campaign that need improvement.
Take a close look at the email marketing stats that matter:
Open Rate. An average open rate depending on your industry is about 14-22%. There are two major factors you should consider when looking at your open rate. The day and time you sent your email and the title. First let's look at the day and the time. Think about the content of your email. Is it light and better suited for the weekend? Or business oriented and insightful and will make for good reading on your subscribers' morning commutes? Consider when the most email comes into YOUR inbox. The best day and time to send an email is going to truly matter depending on your subscribers behavior. The second thing to look at is your subject line. Is it OVER-selling the contents of the email? I.e. are you using all caps and six exclamation points? Chill out. Try to create a subject line that hooks your subscribers with a question or a "secret." Often, another effective approach is to tell EXACTLY what your subscriber can find in your email.
Click Through Rate (CTR). An average CTR is about 2-5% depending on your industry. If you're click through rate is below average, this means your call to action in your email is either not compelling enough or is buried. Your email should have a clear objective. Is it to download a coupon? Go to a recent blog post? Download an ebook? Buy a new product? Whatever the goal of the email, the call to action should be clearly associated with the email copy and prominently displayed in the email. Furthermore, it should be the ONLY call to action in the email. That doesn't mean you should only put one link in your email. In fact, I suggest putting multiple links to the ONE desired destination throughout the email.
Bounce Rate. The bounce rate is generally a good indicator for the current state of your email marketing list. Is it old? Is it bought? (IT BETTER NOT BE- this is a big no,no. Also a waste of money.) If your list is out of date or bought, chances are you are going to see higher bounce rates. DEFINITION: A hard bounce is an email address that no longer exists, has an error or has been blocked by a spam filter. A soft bounce means that an email address is temporarily unavailable either due to a full inbox or an away message on that subscriber's inbox. Generally your email marketing software will continue to try to send to this email address until several failed attempts have occurred.
Unsubscribe Rate. Your unsubscribe rate would ideally be 0%, but obviously this isn't an ideal world. Try to keep this number below 1%. If you test out different headlines, times, calls to action, etc. and you are still seeing high unsubscribe rates, it might be wise to take another hard look at your list(s). Are your email marketing lists segmented well? What I mean is say you sold coffee and tea. You had people sign up for a coffee newsletter and people sign up for a tea newsletter. Don't send the tea people material about coffee and vice versa. Segment your lists based off of your buyer personas.
Like with most marketing tactics the number one thing to consider when setting up your email marketing campaign is the objective of sending the email in the first place. And if you can't come up with one, don't send the email!