3 Ways To Measure The Success Of eCommerce Email Marketing

3 Ways To Measure The Success Of eCommerce Email Marketing
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Looking closely into emails as a marketing tool, it has been one of the most reliable sources of income for businesses to incorporate into their strategy. Retaining potentially lost customers, bringing interest to those unsure and further talents - email marketing can and continues to create wonderful results for businesses worldwide. 

If you have not implemented this into your digital marketing strategy, you will miss out on a lot of free money. Email marketing has the potential to assist you in creating a long-term brand, loyal following and help repeat customer purchase behaviour on your website. 

Even if you do have this marketing tool in play and top-tier email marketing software installed, there are still some misconceptions about how to measure the success of email marketing campaigns in order to reap maximum results. 

Carry on reading to learn how you can add this to your end-of-month report. 

What Are 3 Ways of Measuring Success in Email Marketing?

Whether you have email marketing software installed or not - it goes without saying that Klaviyo email marketing is the most effective tool for analysing metrics for email marketing in obtaining email addresses for your email list. 

Besides that, once you’re all set up and ready to put out campaigns - there are 3 ways that you can measure the success of email marketing. Let’s take a closer look in detail!

1 - Click-Through Rate (CTR)

We’ll begin this list with the most important… because if no one clicks through your email and clicks on a link within the copy, you’re never going to see the sales on the email marketing dashboard.

If you know that your target audience has layers, sending email marketing campaigns to customers that have had previous history buying the specific product (or enjoys the topic), you will receive much higher CTRs - with it being relevant to their interests. 

2 - Open Rate

Open rates are at which your emails entice the reader to open your message and continue to see what you have to offer. Therefore, your email must be able to grab the reader's attention in order for them to click on the email. Additionally, you should only be offering the customers relevant offers that suit their previous buying history - this way more emails are opened. 

3 - Delivery Rate

Every business has to rack up an email list before they send out their emails to a desired number of people. Therefore, you have to ensure that you’re collecting valuable audience members that will interact with your emails in the future. 

If you begin seeing that the two mentioned above are performing well, then you can be satisfied with who your emails are being sent out to. However, if they’re not opening and engaging - you may want to look at improving the health of your email list and A/B test to different audiences. 

DON'T MISS: Messy email marketing practices damage your long-term productivity

Are There Any Additional Metrics That You Can Measure For Email Marketing?

Of course, the 3 main email marketing metrics that you should look at when beginning email marketing are your delivery rate, open rate and click-through rate. However, there are some advanced analytics that take your performance a step further if you look at and optimise them effectively. 

Previously, we were just talking about the main aspects of the email itself… but what happens when people click through to your email and either make a purchase or don’t. Let’s take a closer look. 

Bounce Rate

Depending on what your main focus is with the email, monitoring the bounce rate will differ. For example, let’s say your email focuses on gaining traction on your landing page for a specific product in your line. This is something that you would want your bounce rate to be extremely low for. 

If your offer for the product that you're promoting isn’t persuasive, added to your website's usability being poor (amongst all the other factors that could be displaced) - this could have a detrimental impact on why your bounce rate is so high.

Assessing your bounce rate and even unsubscribe rates using your email marketing software or Google Analytics will allow you to see where website visitors are clicking off the website. This way, if you find a pattern, you’ll know exactly the marketing solution to put in place for better results.

Conversion Rate 

Taking each individual email at face value and using the analytics dashboard to assess how the email is performing is paramount. You should always be optimising your emails and trying different subject lines, email designs, templates, call-to-actions, etc and if you find something that works - you should definitely double down on that tactic. 

However, your audience will change and this will not always work. You have to become adaptable to what your audience wants and if you cater for what the customer wants - you will boast a much higher conversion rate, long-term. 

This should not stop you from segmenting your email to what is working at that given time. By all means, take advantage of the tactics in the email that are performing the best and implement them across all of your emails. 

We’re just reminding you that people change and using the same marketing efforts all the time will not always perform best in the long run. 

DON'T MISS: Your email flows should never be “set it and forget it” - here’s why

Final Reflections

Whether you’re just starting email marketing for your small business or you’re trying to optimise your email marketing strategy for a large company that has already had success in other marketing perspectives - you should always be measuring your email performance.

Regardless of the size of your business, there are always areas to improve and locating these issues using analytics will help you to finally execute on the mistakes you’re making. 

We at Magnet Monster offer free consultations for anyone looking to bump up their email and SMS marketing strategies and profits. Click the link below to contact us 

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If you’re a beginner, we would recommend that you begin with the basic 3 measurements of success with email marketing (analysing delivery rate, open rate and click-through rate). Once you begin to become more advanced and are beginning to plateau with your production levels, we would urge you to begin assessing your emails deeper by looking at each individual email.

The bounce rate and conversion rate after the 3 main components are essential for boosting your results further. Having software or a marketing team around you that serves as an assessor will allow you to replace low-performing emails with superior email marketing - key for an optimal growth rate.

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