Your frustration is natural.
You have been doing email marketing since long. You have a fat list. You are regularly sending both promotional and non-promotional emails to your subscribers.
But despite that you are earning hardly hundred dollars a month or even lesser from your every email campaign.
Your per month expenses are nearly 20 dollars that you pay to your email marketing service provider. So you are earning net 80 dollars.
In a bid to get better results you are doing your best to create irresistible subject line and contents of your each email.
You waste no time to introduce a mouth-watering offer to your subscribers. Sometimes to sell them a product and sometimes just to help them free.
But despite all that your every email campaign sucks terribly.
You don’t know where you are doing mistakes and where you are doing well.
You are very keen to correct your mistakes and to improve further where you are already doing well.
You know a few things about the success of an email campaign like open rate and unsubscribe rate.
But you have realized after improving them a little that they are not the only yardsticks to fully know how you are doing.
Don’t worry initially this happens to all who just try to evaluate their campaign’s performance in isolation. They apply their guesses to know if they are doing well.
Money is the final yardstick to know how successful your email campaign was. The main thing is to monitor it while it’s working to improve it for higher rewards.
How your email campaign is going?
I would tell you nine parameters that you must know to examine if your email campaign is doing well.
Also this would encourage those who are afraid of failing and yet to start their first email campaign.
Ask the following questions one by one to yourself and then check their answers from your email marketing company’s metrics.
If you yet to debut your campaign note these questions to ask as and when you start this surefire way of online earning.
Don’t ask these questions in layman term as I mentioned. I would also let you know its technical terminology. Your email service provider would give you most of the info without charging extra money.
Your monthly performance report would let you know answers a few of these questions. While for a few other you can calculate yourself by following the tips of this post.
1. How many emails not delivered? (bounce rate)
It is not necessary your email is delivered to all your subscribers. Inbox of a few of them may be full and it could not be delivered to them.
Also a few of them have closed their email account or lost their password. So it can’t be delivered to all such addresses.
This is called bounce rate that is calculated by number of emails not delivered divided by number of emails sent.
If it is getting higher it means your several subscribers have changed their email addresses or not cleaned their inbox.
So keep sending to those addresses where from it was returned just because their inboxes were full. Obviously one day they would clear their inboxes and start receiving again.
For those who have changed their email addresses or forgot their passwords it is better to remove them from your list. Otherwise your list will not show the actual number of subscribers who receive your email.
2. How many emails delivered? (delivery rate)
It is opposite of bounce rate. It is called delivery rate and calculated by number of emails delivered divided by number of emails sent.
The total number of emails delivered is calculated by number of subscribers to whom you sent it minus number of subscribers who did not receive it.
No of subscribers to whom an email sent – number of subscribers to whom it could not be sent = Number of subscribers to whom it was delivered.
Delivery rate is the basic information to know how your email campaign is doing. Your huge list is not the main criteria to assess your performance. It is likely that many of them have fake email addresses that they created just to grab your lead magnet.
3. How many new subscribers in a month? (growth rate)
An organic email list is always in transition. Many subscribers quit your list while many new entered into it.
Focus on growing your list all of the time as newer subscribers are more engaged adding to healthier open rates and ROI. Karl Murray
So it is good to know if your list is growing or shrinking. If you made five hundred new subscribers it does not mean it grew by 500. You have to first minus those who quit by clicking the unsubscribe button that you display at the end of your email.
(It shows your professional approach that you offer the option of un-subscribing to your all subscribers if they don’t want to receive it.)
So to calculate the growth rate of your list first minus the subscribers who quit your list from your new subscribers and then divide them with your total number of subscribers.
4. How many clicks on links? (click-through rate)
This is the main objective of your email campaign. Click through rate means how many subscribers click on any link of your email.
It is calculated by number of clicks made on links divided by number subscribers to whom it was delivered.
Higher CTR shows your success if your email has a sales pitch. If it refers a newsletter or a mouth-watering freebie it will not impact your income. But it will show how engaging your campaign is.
So you should equally make your sales pitch engaging to get more clicks on its links.
5. How many emails reshared? (resharing rate)
In your email the social media sharing and “forward this” buttons are also given at its end. This actually helps you multiply your subscribers once your existing subscribers forward it to their friends and social media followers.
Your message should be so viral that your subscribers can’t resist to reshare it. This you can also calculate through dashboard of your service provider’s dashboard.
6. How many emails aroused your desired action? (conversion rate)
The ultimate objective of your email campaign is to make your subscribers perform an action. This could be filling a lead generation form or directly buy a product.
This is called conversion rate and calculated by number of subscribers who were converted divided by number of subscribers to whom an email was delivered.
Your subscribers waste no time to click on a free offer or on a receipt of earlier payment. It wrongly shows as if you are doing great in this metrics.
So just calculate the conversion rate of those emails that you sent to sell a product or service.
7. How is revenue per email? (income per email)
Your total income from your email campaign is not any parameter to know how you are doing. It should also be linked with all your efforts you made to run it.
So first calculate how much expenses you made to run your campaign. This includes a fee to service provider plus promotional charges for lead generation. Subtract your expenses from income to know your net income.
Revenue from email campaign – expenses = net income
Still it is vague to know its accurate performance. So divide the net income with number of subscribers to whom it was delivered and you would get your income per email.
If your list is in thousands of subscribers then your income per email in a few dollar is fine. Otherwise if you have a small list it should be higher to make your total net income quite satisfactory.
8. How many subscribers opened your email? (open rate)
It is not necessary all your subscribers to whom your email was delivered would also open it. It is likely a few of them directly send it into trash can or ignore it. So your open rate is generally lower than its delivery rate.
It is calculated by dividing the number of subscribers who opened it by number of subscribers whom it was delivered.
It is also a little vague yardstick. If your email has images and all your subscribers who disabled the option of image display would not be considered those who opened it. Though they actually have opened it.
So it is a little misleading but you need to improve it by creating its irresistible subject line. They would hardly ignore it and must click on it.
9. How many subscribers quit your list? (unsubscribe rate)
Your email has a built-in option of unsubscribed at its end given by each service provider.
So count the number of subscribers who unsubscribed and then divide them with number of subscribers whom it was delivered. Answer could also be a little misleading that many subscribers don’t unsubscribe and simply ignore your email.
You can make all these calculations in a given period of time depending upon the length of your campaign. In simple terms it could be for a month, quarter, six months or a year.
Open, click and unsubscribe rates are pretty poor measures for email engagement. Jordie van Rijn
So this is all about the parameters through which you can know how your email campaign is performing.
Most of this data you can know from the dashboard of your email marketing service account. While a few you can calculate with the help of data you obtained as above.
How long you have been running your email campaign. How is its performance so far?
Or you are just planning to start it. Let us know and also you can ask me any question to further improve it.
I hope you will reshare this post on social media with your friends and colleagues.
Want More Money Blogging Ideas?
Subscribe to our mailing list and get more contents like this into your inbox
Thank you for subscribing.
Something went wrong.