You’ve decided to take a punt on email marketing. Great idea, if executed correctly you will get an awesome return on your marketing spend. But what exactly is the objective of your campaign? Are you simply using it as a branding exercise and just need the promotional mailer opened? Are you looking for email opens to turn into clicks back to your website? Or are you looking for mailer clicks that turn into leads? Before you sign off a cent of marketing budget here are the 3 email metrics I think are critical to the success measurement of any email campaign:
Sends mean nothing when it comes to email marketing, email deliveries are what really count. Let’s assume that I have a marketing database of 100,000 people and have email addresses for all of them. In my sales pitch I promise to take your marketing message and send it to these 100,000 people. In your mind, you’ve assumed that your marketing message is going to be sent to all 100,000 people and therefore seen by all 100,000 people, right?
I mean, if you send a bulk email message, it goes to everyone, right?
Nope, that is unfortunately not the case.
Truth is, maybe only 40% of 100,000 emails sent might actually get delivered.
If the list is “dirty” and by that I mean it contains invalid email addresses, your message is not going to reach those records.
Clean email data is key, so before you sign off on any email marketing campaign, ask for email delivery stats.
If the email delivery stats are in the 90% range, you’ve got a data partner you should book a campaign with.
If the email delivery stats are anything below that, you need to ask serious questions about the data & most importantly, the management of that data.
Rule of thumb, don’t pick an email data partner who can’t show you 90% & higher email delivery stats. You are wasting your time and money booking a campaign with them.
Now that you know your marketing message is being delivered to valid email addresses and you’ve taken care of the delivery rate question, the next thing you need to ask is “How many people have opened the email? Your email open rate is simply the number of emails opened/the number of emails delivered. If you sent out 10 emails and 1 person opened the mailer, your open rate is 10% (easy enough).
Email open rates can be influenced by a number of different factors including:
Why are open rates important to measure?
Because you can have a 99% email delivery rate, but if nobody opens up the email, the delivery rate metrics count for nothing, right?
If you plan to use an external data provider to send your email marketing message, find out what open rates you can expect upfront, and perhaps look at doing a deal based on open rates, rather than delivered emails.
Very few clients will simply pay for a ‘branded campaign’ – “Just send our offer via email, we only need exposure”. The more likely scenario is “Can we measure how many people clicked on our mailer links?” And that is a fair question. Clients want potential customers to move to action and the beautiful thing about email marketing (and digital marketing overall) is that everything is measurable.
Being able to track how many people clicked on the links in your email campaign is critical in determining how successful the campaign was. The more clicks you achieve, the more successful your campaign is likely to be. You want clicks and you ultimately want those clicks to do something post click. Perhaps it’s signing up to a newsletter, buying something online or requesting a call-back for an insurance offering.
Ask any potential data partner worth their salt, what type of CTR rates they get which is a simple measurement of the amount of clicks divided by the amount of delivered emails. The higher the CTR rates the better the overall campaign has performed.
Ok, so in closing, should you throw some budget into email marketing campaigns? Absolutely, but only once you know what the objective of the campaign is and how you are going to measure it.
Then make your decision based on that. If you need any information on our email metrics, drop me a line.
Until next time.