Top 8 Essential Email Marketing KPIs And Metrics
What are email marketing KPIs?
Let us say that you started building your own email list for your business and have a visually appealing email template ready. After testing the campaign on your devices, it has now been triggered. How do you know the performance of your email campaign after sending it out? This is what email marketing KPIs or Key Performance Indicators are for.
In this article, we will help you identify and track important KPIs and metrics that reflect how your email campaigns perform so that you can take corrective action wherever required. Let us dive in.
How do you track KPIs for email marketing?
A KPI or a Key Performance Indicator measures your campaign performance against set objectives.
It is not just about sending the right campaigns at the right time, you should also learn what works for you and what does not work for you, or rather for your users. This is an ongoing process.
8 Most Common KPIs
You do not need to feel overwhelmed if you have not previously worked with email marketing. We are here to guide you. Take a look at the 8 most common KPIs that all email marketers need to start tracking:
Email open rate
Email open rate is probably the most basic metric every marketer needs to look at. It defines the total number of emails that were opened divided by the total number of emails that were sent, excluding bounces.
Email open rate is a function of email subject lines, preview texts, and some other important factors.
Pro tip: Use A/B testing and experiment with different subject lines.
Email delivery rate
The number of emails that get delivered is often not the same as the number of emails that were sent out. Some of the emails result in bounces.
Email delivery rate is obtained by dividing the total number of emails delivered by the total number of emails that were sent. Multiply it by 100 to get a percentage.
CTR or Click-Through Rate defines the percentage of people that click on at least one link in an email campaign. Total CTR and unique CTR are two types of CTRs often used to gauge the email campaign's performance.
CTR = Total number of clicks in your emails / Total number of emails delivered * 100
Unsubscribe rate is defined as the number of unsubscribes by the number of delivered emails * 100
You should always have an easy way for the users to opt out or unsubscribe from your email communication if they think that it is not relevant for them.
Pro tip: Ask them about their feedback while they unsubscribe. You know why they unsubscribed.
Email bounce occurs when an email campaign does not reach the intended recipient for some reason. It may be due to a soft bounce or a hard bounce. Remove consistent hard bounce cases to improve the performance of your email campaign.
Read more about Email Bounce: Definition, Types, What to Do About Them?
Email sharing and forwarding rate
Email sharing rate or forwarding rate is obtained by dividing the number of clicks that the share and/or forward button receives by the number of delivered emails * 100
Peer-to-peer sharing provides a great opportunity to reach a lot of new users by the creation of viral content that the customers share in their groups.
List Growth Rate
List growth rate tells you how fast or slow your email list is growing. For running successful email marketing campaigns, you need to keep ethically building your email list to increase the scope of your email marketing.
Read 6 Email List Building Strategies for 2022 in detail.
Cost per conversion rate
The ultimate goal of measuring these KPIs is to get more people to convert. Conversion may be for sign-up, increasing web traffic, up-selling, cross-selling, first-time purchases, or any other action.
The cost per conversion rate considers the goal achieved against the total cost of the campaign.
Advice for improving email marketing KPIs
By now, you have an idea of what email marketing KPIs are and their importance.
You should be consistent in tracking and studying email marketing KPIs and shaping future campaigns based on learnings from the past.
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Frequently Asked Questions
What is the KPI of email marketing?
KPIs are Key Performance Indicators that help you gain insights into your email campaigns' performance. Start measuring KPIs like open rates, bounce rates, unsubscribe rates, and others mentioned above from day one, and keep correcting the course as you go.
How can I improve my email KPI?
Improving one or more KPIs for your email campaigns is not a humongous task. All you need to do is to let the numbers do the talking. Use A/B testing for subject lines, preview texts, email templates, and copy. Make sure that you know what your users are looking for and share it with them when they want to receive communications from you.
What are the 5 key performance indicators?
Many key performance indicators are important in email marketing campaigns. Listing 5 of them below:
- Email open rate
- Email bounce rate
- Unsubscribe rate
- Click-through rate
- CPC rate