By monitoring KPIs, you can adjust your strategy and optimize your campaigns for better results. This blog post will explore three email marketing KPIs you should track.
Click-to-Open Rate
The CTOR tells you the percentage of people who opened your emails and clicked a link. It’s a great metric to determine the engagement of your email list. It is also a good predictor of future conversions. Remember, people need an average of seven touchpoints before they convert.
Use this formula to calculate your click-to-open rate – (unique clicks ÷ unique opens) × 100
List Growth Rate
Your list growth rate is a valuable metric to determine how fast your email list grows. Some business owners mistakenly look at the number of new subscribers daily. However, that doesn’t consider the number of subscribers you may have lost. An example is if you gain 100 new subscribers this month and lose 100 subscribers, your email list growth rate is 0. To get the most precise picture of email list growth, you want to look at subscribers and unsubscribers.
Use this formula to calculate your list growth rate – [(number of new subscribers) – (number of unsubscribers + spam complaints)] ÷ total number of subscribers} × 100
Conversion Rate
The conversion rate measures the percentage of subscribers who answers your CTA (call-to-action) after opening your email. This could be purchasing a product or service. But it could also be enrolling in a webinar or simply clicking a link (like the one you clicked to read this blog post). The core idea is that conversion rates measure action, not just purchases.
Use this formula to calculate your conversion rate – (number of conversions ÷ total number of emails sent) * 100
It is important to remember that while these email marketing KPIs give you a lot of valuable information, you want to monitor KPIs directly related to the email marketing goals. You have to determine if your strategies are leading to the outcomes you want.
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