Metrics such as clicks and openings are critical for determining campaign performance. Other metrics, though, have a greater impact on your business and marketing strategy.
Here are some additional indicators that can help your business besides opens and clicks.
Beyond openings and clicks, looking at the conversion rate helps paint a more complete picture of the client journey.
Typically, conversion rates are measured by dividing the number of conversions on your site by the number of visitors. To assess the impact of email marketing on the total business, marketers should consider the full customer journey, which includes email.
Value of an email address
Marketers should also calculate the value of each email in their database.
This will aid in determining whether paid media initiatives on other channels are worthwhile. Email campaigns are less expensive than digital or conventional media ad campaigns. As a result of the potentially high return on investment, the value of emails is an important measure to understand.
Also, if the purpose of a campaign on other media is to attract customers to sign up with their email address, the value of the emails can be used to calculate the entire worth of the campaign.
Customer behaviour behind the campaign
Email campaigns can have an impact on client behavior, but not always in the way you anticipated. So, pay special attention to how customers respond to emails. For example, instead of going through to a website, customers may open your brand's email and conduct a Google search about your product before opting to purchase.
They may even pay a visit to a competitor. Alternatively, people notice your company in the subject line or address and go directly to Google without even opening the email.
As previously said, email is a low-cost marketing channel that can produce significant results. As a result, ROI is a critical measure to use when presenting your business case to your peers.
To calculate email ROI, add the total sales generated by email, deduct the costs of the email campaigns, and divide the total by the expenditures. The percentage is obtained by multiplying that amount by 100.
Open-reach and click-reach
These two indicators are more subscriber-focused and can be measured monthly, quarterly, or however the company prefers.
Measuring clicks and openings for a given campaign or across a month might reveal how effective the efforts were in producing meaningful outcomes.
Open-reach and click-reach have a long-term cumulative effect. Customers who did not click on an email during one campaign but did so during another are added together. This way, the percentage becomes closer to 100% over the course of the measurement.