How To Analyze Your Email Campaign Performance And Ways To Optimize It
The victory of any marketing campaign is dependent on how effectively you can analyze your data and make changes based on that analysis. Email marketing is no different.
It is no mystery that email marketing is a vital part of your business's marketing strategy for any business such as E-commerce stores, Saas product companies, or owners who sell online courses. But did you know that the success of your email campaigns is directly tied to how well they're optimized? In this blog, we'll discuss what factors you should look at when analyzing your email campaign performances: open rates, click-through rates, and bounce rates, as well as how to optimize them. By using these tips, you'll be able to optimize your campaigns from start to finish.
What Is The Importance Of Analyzing Your Email Campaign Performance?
If you're wondering why it's so important to analyze your email campaign performance, then you should know that it can help you:
Identify what works and what doesn't. Analyzing your campaign will allow you to see exactly which aspects are working well and which need improvement. It also allows you to identify other areas to explore in future campaigns.
Understand how customers respond to certain offers or content. If customers engage with certain types of content or offer more than others, this can help inform future strategies around product offerings, & pricing points, etc.
Also, this knowledge can help you make changes to your campaigns that will improve their performance and boost overall ROI.
How To Measure The Success Of Your Email Campaign Performance?
To measure your email marketing performance, you need to look at a few different factors.
Measure open rates
The open rate is one of the primary metrics in understanding your email marketing performance. It's a metric that measures how many people have opened your email. This can be compared to the number of emails sent to determine how many people opened your email.
There are two ways you can measure this: 1. Automated - Most email marketing services will automatically track your open rates for you, so you don't need to do anything! If you're using an online service, like EngageBay, or MailChimp then they'll track this for you automatically. If you're using an offline service like Microsoft Outlook or Thunderbird, several different plugins are available for manually monitoring open rates.
2. Manual - You can also get a rough idea of how well your emails are doing by manually tracking them yourself! To do this, download the email addresses from your list and then check them all periodically (once every week or two) until they've all been opened at least once and add up the total number of opens on each list member's name card.
Measure click-through rates
Click-through rate is the number of people who click on your email divided by the number of people who see it. It's measured by tracking how many times users click on a link in an email, then dividing that number by the total number of users who saw the email. To measure the click-through rate, you'll need to set up campaign tracking to track all clicks from your emails. You can then divide those clicks by the number of unique users that received each email, giving you a click-through rate for each campaign. For example, if you have 1,000 impressions for an email and 200 clicks, your click-through rate would be 20%.
Analyze bounce rate
Bounce rate is a metric that measures the percentage of undeliverable emails sent from your company. It's calculated by dividing the number of bounced emails by the total number of emails sent. For an email to be undeliverable, it must not have been delivered, nor it has been delivered to a spam or junk mail folder. If your email bounce rate is high, it means that you're sending out too many emails to a list that can't receive them properly.
Measure conversion rate
The email conversion rate is a metric that calculates how many people click through your email and complete the action you want them to take. You can measure the email conversion rate by counting the number of people who completed an action in your email and dividing it by the total number of subscribers who received it.
Find unsubscribe rate
The email unsubscribe rate is the number of people who have unsubscribed from your emails. It measures how many people haven't opened your emails within a given period and if they've unsubscribed from your list.
It's important to monitor this rate because it tells you how many users are not interested in receiving emails from your brand. This data can help you make changes to your email marketing strategy by targeting different demographics or adjusting the content of each message.
Calculate overall ROI
The overall ROI of your email marketing campaign is the sum of all the revenue you make from your emails minus the cost of sending them. This calculation can be done using two different methods. The first is to divide your total revenue by the total number of emails sent during the campaign. This gives you a simple "per email" ROI that measures how much money each email is generating for you. The other method is adding up all the costs associated with sending your emails and subtracting them from your total revenue. This gives you a more accurate representation of your actual ROI as it accounts for any costs that might have been incurred during the period but not directly related to sending out these particular emails.
Understand list growth rate
The list growth rate is a metric that measures how quickly your email subscriber list is growing. It's measured by the number of new subscribers that you add to your list each month over some time. To calculate your list growth rate, take the total number of new subscribers during a specific period and divide it by the average number of subscribers on your list during the same period. This will show you how fast your email subscriber count is growing.
Guidelines For Optimizing Your Email Campaign Performance:
Write Captivating Subject Lines to Increase Your Open Rate
As the phrase goes, you only get one chance to create a good first impression. The same is true for the subject lines of your emails. If you want to increase your open rate, you need to write captivating email subject lines that compel people to click and read what you've written. It's good practice to keep your subject line between 5 and 10 words in length. This way, it's short enough not to feel overwhelming or like a burden but also long enough to convey the main point of your message.
Applying Good Email Hygiene Practices Can Reduce Your Bounce Rate
Your bounce rate is the rate of emails that are returned as undeliverable. A high bounce rate can have a harmful impact on your deliverability, which means that you will have trouble reaching your audience through email marketing campaigns.
A good way to reduce your bounce rate is by applying good email hygiene practices, such as:
Email authentication is necessary to prove that you are original and not frauds to both ESPs and your subscribers. It helps to identify where the email has come from and increases your email deliverability rate.
Avoid the email list purchasing practice and build the email list organically.
Use a double opt-in method or real-time email verification to ensure that only valid leads and email addresses are being captured into your database. This will help you build a high quality email list that would result in better campaign performance.
Always verify your email lists before they are sent. Email validation helps you to reduce email bounces and protect your emails from spam traps. Clearout.io Email Verification helps you identify the email addresses that might harm your campaigns with 98% accuracy and thus helps in better email deliverability, and engagement. .
Share Relevant Content With Proper Clickable CTAs To Increase CTR
- Make sure you're sending relevant content
The first step to increasing your click-through rate is ensuring the content you send is relevant and personalized. If it's not, recipients will be less interested in clicking through because they don't see an immediate benefit.
- Use proper CTAs
Use a CTA that makes sense for your email and what you're trying to achieve. If you're trying to get people to fill out a survey, don't use a CTA that says, "Subscribe to our newsletter." Instead, use something like "Take Our Survey" or "Enter Your Email Address Here."
Reduce The Unsubscribe Rate by Letting Users Set Their Preferences
You can reduce the unsubscribe rate by letting users set their preferences in your emails. For example, if they prefer not to get promotional emails, let them opt out of receiving them. Encourage people who subscribe to your email list to unsubscribe if they're not interested in receiving your content anymore. This will make it more comfortable for them to unsubscribe if they decide they don't want your content anymore and will reduce your unsubscribe rate.
Create Brief Sign-up Forms To Boost Email List Growth
If you want to boost your email list, make sure your sign-up forms are short and easy to fill out. Make sure you ask for the bare minimum necessary information to get started, which will help keep people from abandoning their sign-up process altogether. If you can't think of any other information you might need later on, don't ask for it right now.
Persuade Subscribers To Buy With Valuable Content
The first step to improving your email campaign performance is to persuade subscribers to buy with valuable content. There are many ways to do this. Some brands choose to offer free samples or discounts, while others opt for a more educational approach with tips and tricks. You can also use a combination of both strategies: offer a discount or sample when someone signs up for your list and then follow up with helpful information about the product or service you're offering. Invest in a good email design adding visual design assets to improve your email campaign performance.
There are a lot of factors to consider when it comes to email marketing. It's more involved than just sending a bunch of emails and hoping for the best. You need to know what you're doing and how you can optimize your campaign for success. You should always analyze your current campaign performance, and improvise on what and what is not working for you. This ensures that you're continuously improving and getting the best out of your email campaigns. If you follow these tips, I guarantee your results will improve dramatically!
Divya is a marketer, nature lover & startup enthusiast. Founder of Unifiedist. She has an immaculate experience in GTM strategy & SEO. She always follows her instinct and travels with her Ikigai.