There are some relevant metrics that you should track regularly if you want to maintain a healthy email list and improve the profits of your campaigns. Paying attention to and analyzing your data will lead to better outcomes for your business. Let's get to it...
6 Areas To Keep An Eye On
1. Messages That Don't Get Delivered
Are your messages getting delivered to your email list subscriber's inbox? Email that isn't delivered doesn't do you any good, and you end up paying your email list provider for subscribers that aren't getting what you sent them.
An email will remain in the inbox until it’s deleted. This makes email more effective in staying in front of your reader for longer periods of time.
If an email bounces, it can’t get to the recipients’ inboxes. These can be “soft” bounces—temporary problems because of server problems or they can be “hard” bounces from invalid email list addresses.
Several hard bounces will make your ISP to flag you as a spammer, hurting your marketing efforts. Once you're aware of a problem, you either have to see if there is something that you can do to get them delivered, or delete the subscribers from your email list.
2. Are People Leaving Your List?
You may notice your conversion rate is high, and recipients are opening and clicking through your campaigns. You still have to keep an eye on your data. Consider unsubscribe requests.
People are going to leave your list. You can't please everybody, and it's a part of doing business. What you want to keep track of is how many unsubscribe and when they did it.
Was it immediately after you sent out an email series? You have to constantly monitor your email list to make sure you're not doing something that is driving subscribers away.
What you can do is to provide a form on the unsubscribe page that asks them to tell you why they left. It can be hard to hear some of the feedback, but if you see a pattern, there is an opportunity to fix any problems that you weren't aware of.
Another thing you can do to nurture a responsive email list is to make sure to include an invitation in every email you send to contact you with questions and feedback. Taking time to interact with your readers will help to keep the people on your email list.
3. Click-through Rate (CTR)
This is arguably the most important metric worth measuring. Whether you’re promoting a blog or registering subscribers for a new online course, you’ll want recipients to click on links and the share button in your emails. Right? Engaging email campaigns generate more clicks. So if your CTR is low; this means your message needs improvement.
What you are looking for are what calls to action (CTA) is getting more or less clicks. What type of link or ad copy is getting the better response. Toss the losers and improve the winners.
Your click-through rate varies depending on the size of your email list, and the content of your email. But a healthy CTR is in the 15% range.
So, your CTR is an indicator of how valuable your email’s content is to your audience and the call to action associated with it.
4. How Many Shares Do You Get?
Once a recipient shares your email with someone else, they become a part of your forwarding rate. You can calculate this rate by taking the total number of subscribers and determining the percentage of those who forwarded your email campaign.
To make it more likely that your email will be forwarded, ask your reader to do just that. It never hurts to ask, and it may give them the push they need to send it to others.
Forwarding rate is an interesting metric because it shows how enthusiastic your subscribers are about your content. So, if someone shares your email, it shows they consider the content to be relevant.
You can track this rate using your email marketing service. Most of them allow you to add a Forward to a Friend link in your emails, which offers data on how many subscribers used it.
5. Time Reading Your Message
This metric helps to figure out the time a subscriber spent checking out your email. Your email marketing service adds these times to get an average, which is the rate of time spent on your emails.
Usually, the more time recipients spend on your emails, the better. This means they’re paying attention to your content; they find it relevant, and they’re more willing to convert.
If they open the email and close it in 5 seconds, and you find that a lot of your readers are doing that, it's time to find out what's going on.
The messages that are getting more reading time are the ones you want to study and send more of.
Email Campaign Profitability
This metric gives you a deeper insight into your campaign value.
Just like any other marketing campaign, take your sales revenue and subtract the cost of running the campaign and the costs of goods sold.
This is a useful metric, and you can use it on each campaign you run and on each list you send to. For each campaign, figure out how much it is costing for your email service provider and hosting costs for the period of the campaign.
Take the size of your list - the number of people who are going to get the email in their inbox - and total up all of the sales you make. You now know how much you made on average for each subscriber.
Subtract the cost as noted above, and you will know how profitable your campaign was. Do this with every campaign, and over time you will get to know what is working with your list and what to avoid doing in the future.
If you track and test, you will improve your email list profits and the effectiveness of every promotion you send out. If you're not doing it now, get started and you'll soon see the results.
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