The success of email marketing is sometimes difficult to measure. This is especially the case for brands/companies new to this particular form of online advertising. Without a huge budget or proper infrastructure, email marketing can be easy to give up as part of your overall digital strategy.
But with proper planning and execution, you can make email marketing work for your business.
How to measure success rate of email marketing?
With the right marketing statistics email and tools, monitoring your email campaign’s success will be a lot easier. This is especially true when you use A/B testing to segment your email lists and test subject lines. Then, you can track which emails are getting better engagement rates through reporting dashboards available with most email management solutions.
Regardless of whether or not you decide to add this step into your strategy, there are metrics that you can use to measure the success of your email campaigns from an ROI standpoint…
The numbers below were provided by a study done by Experian Marketing Services and Epsilon back in 2011. It might be slightly outdated, but still, it gives us a clear picture of how well email marketing works.
If you want to know How To Improve In Email Marketing, check out other articles!
If used properly, email marketing can help you drive better ROI than other forms of advertising like PPC and social media. So it’s definitely worth testing out for your business. Especially since email marketing is one of the most affordable methods compared to search engine optimization (SEO) or pay-per-click (PPC).
But keep in mind that when using this type of online advertising, you’ll need to have an existing customer base to reach with your emails. This means you either need a solid brand strategy and/or content marketing strategy to build your email list from scratch. Since email marketing requires a lot of preparation and know-how, you might want to consider reading my blog post on setting up an effective automated email campaign or considering taking one of the 3 Email Marketing courses I recommend below.
Did You Know That a Single Email Can Go Up To $44.25 in Revenue Generation?
That’s right, 44% more than the average customer who has no interaction with your company through social media sites or search engines.
But since online advertising is constantly changing and becoming more complex, I recommend using an email marketing service like Aweber, which allows you to send targeted emails and gives you access to other tools such as landing pages and website integration tracking conversions much easier.
For example, their auto-responder feature allows subscribers of a particular list segment to receive automated messages after clicking on a link in one of your email campaigns. In addition, this means less time spent on reporting since most email management services integrated with platforms like WordPress also integrate with popular analytic platforms like Google Analytics.
However, if you plan to get started with email marketing, I would recommend starting small, so it allows you to focus on creating an email campaign that works and ensures your email list is engaged.
Engagement here not only refers to the number of people who click through your links but it also applies to those customers who don’t open or read any of your emails even when they have been added manually into your subscriber lists after signing up using a form on one of your website’s pages. The idea behind this strategy is usually credited to marketing expert Neil Patel since he saw 2x more growth in his targeted emails compared to non-targeted emails sent out in a similar timeframe.
You can get inspired by Neil Patel’s example and refer to the charts below, which demonstrate the difference in ROI between targeted and non-targeted emails using a real-life study done by Return Path back in 2014.
#1: Increase Your Email Open Rates
There are several ways to boost your open rate, depending on how your email management service works. Most services allow you to add images or videos to your email campaigns.
Still, they also have built-in templates for what I consider standard practices in email marketing, such as making sure you include an image with a link to another blog post of yours, creating a clickable header that can be used as an advertisement on social media sites like Facebook and adding links or buttons to your email templates that take customers directly to a landing page on your website.
If you want to learn more about what makes for effective email marketing, I recommend reading this guide from MailChimp, which also includes some email sample templates and recommended practices related to the layout and content of your emails.
#2: Increase Your Click-Through Rates and Email Conversions
If you want higher click-through rates, then you definitely need to create attractive headlines or subject lines in your emails! According to my colleague Mike Siemens, “the rule of thumb is that your subject line should explain exactly why people should open the email.”
Why? If it doesn’t get their attention immediately, they probably will have no interest in clicking, and if they do click, why on earth would they even bother reading your email?
Another strategy you can use to increase clicks is by including links to a landing page which will provide subscribers with more information about the product you are trying to sell. This works really well if you have several different products that customers can choose from. Plus, it also allows them to learn more about your company. What makes it special since depending on how targeted your emails are, you may want them to visit additional pages of your website to learn more about the mission or history behind specific blog posts. Get inspired and read this case study featuring VerticalResponse, which includes examples of their email marketing campaigns using this strategy effectively.
#3: Understand Your Customer’s Behavior and Use The Data For Your Advantage
So you are using analytics software to check how your website is performing? Why not use it to gain better insight into what your customers are looking for in terms of products and services and even when they think about making a purchase. Best of all, if you know ahead of time that a certain segment of your customer base may be interested in a product or service feature, then you can include links to related content or products within email campaigns, which will make sure potential clients stay engaged with your brand without having to lose them to competitors who send out emails faster than you do!
#4: Increase Your Email Conversion Rates through Targeted Emails
Some companies might say that email marketing is dead, but I’m sure most people would wish to argue that point since it’s hard to compete with the level of engagement email, offers compared to other forms of marketing. The trick is staying ahead of your competition by using targeted emails.
What Is The Average ROI In Email Marketing Strategy?
There are numerous ways that you can measure the ROI of email marketing stats, with some metrics offering more insight than others. Brands that describe their email marketing programs as successful report generating an average email marketing ROI of 42:1
Here’s a list of the different types of common online advertising measurements for e-marketing:
Email Marketing Return On Investment (ROI):
The percentage increase in revenue after all expenses related to a specific email campaign. This could include costs associated with developing an email template, copywriting, and other assets used throughout your entire campaign.
It also includes any infrastructure needed to set up the drip campaign, such as inbox placement value (data fees) and third-party services along with internal resources such as employees needed to create these types of campaigns. And finally, you would need to factor in how each email was tracked (e.g., open rates, click rates, click-through rates) to appropriately attribute your sales to the email marketing channel.
Email Marketing Cost per Lead (CPL):
The cost associated with creating an individual lead includes the company’s time and resources needed to complete each stage of a customer’s journey, such as identifying their needs and nurturing them through different stages of the funnel until they make a purchase and beyond.
It also determines how much money is spent on developing an email template, copywriting, and other assets used throughout your entire campaign. It also includes any infrastructure needed to set up the drip campaign, such as inbox placement value (data fees) and third-party services along with internal resources such as employees needed to create these types of campaigns.
The average return generated from an email campaign, after taking into consideration all costs related to the email program, including any infrastructure needed to set up the drip and other third party services along with internal resources such as employees needed to create these types of campaigns.
And finally, you would need to factor in how each email was tracked (e.g., open rates, click-through rates) so you can appropriately attribute your sales to the email marketing channel.
Email Marketing Cost per Click or Activated Contact:
The amount of money a company spends on each person driven to its website from an email campaign. Basically, it’s the cost associated with creating an individual lead, which includes the company’s time and resources needed to complete each stage of a customer’s journey, such as identifying their needs, nurturing them through different stages of the funnel until they make a purchase and beyond.
It also includes any infrastructure needed to set up the drip campaign, such as inbox placement value (data fees) and third-party services along with internal resources such as employees needed to create these types of campaigns. And finally, you would need to factor in how each email was tracked (e.g., open rates, click-through rates) so you can appropriately attribute your sales to the email marketing channel.
What Are Good Stats For Email Marketing Strategy?
There are a few email marketing statistics that indicate how effective your campaign will be. We’ve covered the overall success of using email as an online advertising strategy at first, but let’s take a look at specific numbers that can help you make smarter business decisions concerning your email marketing statisefforts from here on out.
The number of people who read emails:
So, it’s safe to say that email is still one of the most popular ways for businesses to reach their clientele worldwide. What’s even more interesting is that people are spending around 50 minutes on email every single day.
That’s a lot of time online! And it definitely screams for businesses to start taking advantage of the massive interest in email and provide offerings their target audience wants (which could be anything, really). So, don’t put off creating your next email marketing campaign – take action today!
What is Email Open Rate in Percentage?
According to research conducted by Litmus, 92% of all emails received are never opened. When you break this statistic down further, in fact, most interest comes from transactional emails like bills, invoices, or subscription services with an open rate between 30-40%. But when we’re talking about sales-oriented emails (emails offering discounts, coupons, or promotions), they struggle to get even a 10% open rate.
Can An Email List Help Boost SEO?
An e-mail database can help you promote your content through social media channels and build links back to your website with their permission. Plus, it helps your website rank higher than others on search engine results pages (SERPs). Of course, building a solid email subscriber list takes hard work. But the long-term marketing benefits make it worth the effort, especially if you’re doing content marketing.
Email marketing is still a powerful way for businesses to reach their target market, and it can be even more effective when you have the right tools in place. In fact, email campaigns are just as important (if not more so) than other online advertising strategies like social media or paid search because of how much time people spend reading them every day.