When it comes to measuring your email marketing results, you may be so obsessed with measuring the basic things like opens, clicks, and the like that you forget about the other important metrics you need to be measuring. Sure, basic metrics are still important in many cases, but by missing out on bottom-line success metrics, there’s no way you can fully make the most out of your email marketing efforts!
That said, we want to share with you the essential email marketing metrics you need to be tracking to achieve success:
You may be familiar with the term “conversion” already, but why is it important to track it with your email program? Conversion is a term used to define the action you want your audience to take. In email marketing, the most common actions are to make purchases, set appointments, download a file, etc.
What type of conversions you are trying to achieve exactly will depend on your goals. Regardless, conversions help you track just how successful you are at doing it, from finding out how many people end up buying your stuff or signing up for subscriptions and more.
Revenue is the ultimate bottom line metric. While it’s great to know you’re providing value to your audience, it’s not until you know exactly how much you’ve made from your email marketing efforts that you’ll know for sure.
When measuring revenue, make sure to track it from your email marketing campaigns, website, and social media. This way, you have a clear idea of how much specific activities are contributing to your bottom line. This will help you make the best decisions for promoting your company and your email marketing campaigns.
If you want to expand on this, you can measure revenue per email address, which is highly relevant to email marketing efforts.
3. Return On Investment
Return on Investment, or ROI, is another important metric for the bottom line. ROI is proof of how well an investment pays off over the span of time. In email marketing, you can use ROI in different ways. You can measure how much each email program contributes to your bottom line. Also, you can calculate the return on every hour you invested in your email marketing efforts.
Regardless, ROI is a metric that you must measure simply for the fact that it shows you just how well your investment is doing.
4. Average Conversion Value
Average conversion value is the average amount of money you make from each conversion. Knowing this metric is essential, as it lets you know if the price you’re charging is something your audience can afford.
In an email-marketing sense, this can also show you where you can better position your product and service offers. As a result, you minimize money wasted and maximize the value you are getting out of your marketing efforts.
As you can see, there are other important metrics for your email marketing efforts. We want you to know that tracking these metrics doesn’t have to take a lot of effort on your end, as long as you already have the right tools in place. Otherwise, it could mean investing a lot of time and effort into a program that doesn’t actually work for you.
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