An email campaign’s success cannot be determined on click rate metrics alone. If, when you look at your email campaigns’ metrics, you only look at the open and click rates then you are not getting the full picture. To see the full picture start by benchmarking your campaign against your industry sector averages for click throughs, open rates and form fills. eConsultancy and signupto.com are the two key places to download full email benchmarking reports.
- Click through rates
- Is your click-through rate lower than the average B2B tech company? If it is you can work on your call to action and email copy; make it as engaging as possible.
- Bounce rate
- Is your bounce rate twice as high as your competitors? The most common cause for this is poor data. Work on cleaning your database as it may be stale and out-of-date.
- Open rates
- Did your campaign achieve a lower than average unique open rate when compared against others in your industry? Consider how your content speaks to the vernacular of your audience’s business.
- Form fills
- Are you getting the % of form fills that your competitors are? Is your overall database increasing in form field completeness? Marketing automation progressive profiling may help you if improvement is needed in this area
Once you have benchmarked yourself against the competition the next step to see the whole picture is to look at what your campaign metrics can tell you. Comparing two or more of your own metrics will give you a far deeper understanding. For example, when you pull your campaign metrics for open and click rates, also pull in the metrics for website traffic. When you send out your emails, how is it affecting the number of visitors to your site?
Using several different metrics will allow you to build a more complete story of how effective your emails really are. You could try looking at:
- Email open times and click rates
- What does this tell you about who you’re targeting? Do pre-9am emails increase click rates?
- Email opening device and website traffic
- Are emails opened on a mobile device generating more traffic?
- Open rates and frequency of emails
- Does the frequency of communication impact on open rates? Are you sending too many communications or perhaps too few. Does one factor affect the other?
Don’t rely on a single metric to benchmark. Ensure you use several different metrics, and importantly, make sure your benchmarking is actionable.
If you need help in understanding which metrics to benchmark and what they really mean, then contact us today.