There are all kinds of email marketing metrics that digital marketers may want to track, analyze, and present to stakeholders. The metrics that your team chooses to measure will depend on what your overall business goals are and what your campaign goals are. Once you know that information, you can decide which metrics make sense for your team to focus on. In previous videos, you were introduced to common email marketing metrics. In this reading, we’ll revisit those metrics so that you have a resource to refer back to.
Digital marketers rely on tools to track metrics and create reports to help them gain insights from their campaigns. However, it’s possible to calculate these metrics yourself, if you ever need to. Below are some of the most common metrics you learned about in previous videos, along with their corresponding calculations.
Open rate is the percentage of users who open your email. Your open rate is important because it indicates how engaged your subscribers are. A high open rate might mean you are writing effective subject lines, while a low open rate may suggest that your subject lines need some work.
- Number of people who open the email / Number of people who received the email
Click-to-open rate is the percentage of email recipients who clicked on one or more links in an email. This metric is often used in A/B testing, where two versions of an email are sent out at the same time to determine which version performs better. Digital marketers typically pay very close attention to their click-to-open rate.
- Total clicks / Number of unique opens
Unsubscribe rate is the percentage of email recipients who unsubscribe from your send list after opening an email. This metric is useful because it indicates whether you are delivering content that your audience enjoys.
- Number of unsubscribes / Emails delivered
Complaint rate is the percentage of complaints recipients send to mailbox providers about your email. This metric can help you gauge how happy your subscribers are. Since you’re serving them, you want to be sure you aren’t offending them or getting something wrong.
- Number of complaints / Total number of messages from recipients
Conversion rate is the percentage of email recipients who clicked on a link in your email and took a desired action, like making a purchase.
- Number of conversions / Total ad interactions
Forward rate is the percentage of recipients who click on the “share” button to post to social media or who click the “forward” button to send to others. A forward rate is a valuable metric because when an email is forwarded, it means you are generating new leads.
- Number of forwards / Total number of emails delivered
List growth rate is the rate at which your list grows. This number is helpful to track because a high list growth rate may translate to a higher volume of sales.
- (Number of new subscribers − number of unsubscribes) / Total number of email addresses x 100
Bounce rate is the percentage of emails sent that could not be delivered to the recipient’s inbox. If you find your bounce rate is higher than the industry average, you may need to do some investigating. A bounced email is caused by incorrect or inactive email addresses or an import error with your email list.
- (Total number of bounced emails / Emails sent) x 100
Campaign return on investment (ROI) is the ratio of money made and money spent. This important metric tells you whether your email marketing strategy is productive.
- (Total revenue / Total spent) x 100
There are all kinds of metrics you can use in email marketing. Depending on the campaign, you might find that some provide you more relevant information than others. The important thing is that you understand that pulling insights from your metrics is how you will achieve your marketing goals.