Top 10 KPIs for Email Marketers
Email marketing measurement, reporting, and insights are undergoing a revolution. With the power of automated Marketing Intelligence platforms like Datorama, email marketers have full transparency across their email, web analytics, and sales data. Marketing intelligence solutions integrate this data into one, consistent, unified view so email marketers can expand beyond their traditional email metrics and uncover deeper insights that help drive ROI and growth. The following are 10 KPIs email marketers can measure, optimize, and report on with this new, expanded view:
1. Email Sends
Striking the optimal email frequency, messaging, and volume are key to retaining subscribers and maintaining list health. More isn’t always best. By tracking your sends by segment and against business outcomes such as web traffic and online conversions, you can ensure you’re driving the right impact while not overwhelming customers with too many emails or redundant messaging and offers.
2. Delivery Rate
Did your intended audience receive your email? This is another important metric to understand when reviewing your campaigns. If your emails aren’t successfully delivered to inboxes or are going directly to spam, your offers and content, regardless of how compelling, aren’t being received. With a unified view, you can understand how your delivery rate is affecting your overall campaign goals.
3. Bounce Rate
Sometimes emails don’t reach the intended recipient due to rejection by the recipient’s server. This could occur for a variety of reasons, such as an invalid email address, a full inbox, a down server, or mail that was simply too large for the recipient’s inbox. Therefore, it’s important to track emails that have “bounced”, so you can effectively manage email lists and content, in real-time, against your goals to drive page views, downloads, and more.
4. Open Rate
Open rate indicates the percentage of people who have opened your email. A high open rate likely indicates a favorable subject line, offer, brand, or message. By drilling down into individual sends and subject lines, you can optimize your open rate by audience segment to increase engagement and conversion. This allows emails marketers to take action on test and learn campaigns by capitalizing on top performers.
Click through rate, or CTR, is the percentage of email recipients who not only opened your email, but also clicked on at least one of the links contained in the email. Marketers can use this to measure the strength of the email’s content, messaging, or offers. Combining this with our next metric for web conversion can indicate whether your email and web messaging are aligned to create a relevant, consistent, and successful customer journey.
6. Web Traffic, Conversions, and Sales
Web traffic, conversions, and sales are the bread and butter of what email marketing is all about. These metrics indicate the percentage of recipients who completed the email’s intended purpose, such as converting online to visit, purchase, download, or complete a similar call to action. These are particularly important metrics for measuring ROI and optimizing to meet your campaign goals.
7. Return on Investment
Return on investment percentage, or ROI, is the calculation of your campaign revenue – campaign cost / campaign cost. ROI is a valuable efficiency metric for email marketers regarding sales-focused campaigns, audiences, and offer combinations, by providing a consistent and normalized business metric. While it’s important to measure overall sales and revenue, ROI can help quickly spot opportunities for growth or waste minimization, regardless of different send volumes or send frequencies.
Email marketers generally look at unsubscribes in an unfavorable light. However there is a lot that can be learned from unsubscribes, which can actually help marketers manage their customer targets and list health. Sometimes your lists include customers who’ve outgrown your brand or product – either temporarily or permanently. For example, a company that targets parents with young children will have to continuously scrub and update their lists as those customers’ children outgrow that brand or product. Unsubscribes typically signal a need for change, whether it’s your targeting, frequency, messaging, channel, product offer, etc. By drilling down into the details of the subject lines and content by segment for each send, you can optimize future campaigns and shift unsubscribers to paid 1:1 channels such as Facebook or Instagram.
Complaints are another KPI that is generally frowned upon. However, these can provide direct feedback and insight into areas you can immediately improve upon. Complaints serve as another opportunity to learn more about your customer and optimize campaigns.
10. 30-Day Revenue
30-Day Revenue is the final KPI email marketers should track. A complete view of email, web, and sales data allow you to track incremental lifts in sales over a journey in a 30-day window. This gives you time to build your relationship while giving customers time to complete calls to action. By measuring for email and results metrics, you can fully capture the impact of your journeys for flows such as cart abandonment, onboarding, and loyalty nurturing flows.
The key to tracking and measuring these top 10 KPIs is to capture how they work together across your email and web analytics data. With this unified view, you can gain deeper insights into how your messaging, segments, content, and offers drive results. To learn more on how an automated Marketing Intelligence approach can help you achieve this, view our new webinar, “Optimize Your Email Campaigns for ROI and Growth with Datorama.”