Metrics and Measures for Ecommerce Emails
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Why Email is Key
Building your marketing strategy is a difficult task which takes time. You need to make sure that you are receiving an adequate level of traffic generated by your marketing activities. In this blog post, we discuss why email is important and the essential metrics and measures for ecommerce emails success.
Delving into metrics and measures for Ecommerce Emails
When drawing up your marketing strategy, there are many channels to choose from. It can be difficult to identify which marketing channel is the most appropriate for your purposes. We have delved into the statistics of Email Marketing to find out why it is one of the most effective channels for businesses. But, even if you develop the most appealing email campaign, you need to understand how to analyse and improve them.
Delivery and Spam Rates
Before an email campaign can perform, it must first reach the inbox. The delivery rate indicates the percentage of emails which reach the intended recipient. There are a number of steps senders can take to optimise email delivery rates. Maintaining good data hygiene and monitoring data input procedures are important steps towards improving deliverability. It is also important to remove contacts who become disengaged with your campaigns over time. There are certain ranking factors showing the trust IPs have in you as a sender, measured as return path sender score.
Econsultancy highlighted email engagement with ecommerce campaigns at the beginning of 2016. The statistics highlighted a mixture of positive and negative aspects of ecommerce email campaigns.
Whilst open rates for order follow-up emails were reported at a healthy 46.1% and 46.6% for abandoned carts, newsletters only resulted in 23.4% opens.
To improve open rates, marketers need to focus on optimising their email subject lines and preview text (see link below). It is important to consider how your emails will be read when writing these text elements as this is likely to affect how your readers will react. Campaign headlines need to be powerful, convey the intent of the email and ultimately drive clicks.
Click Through Rate
The click through rate of your email campaign indicates how many people have clicked on a link or call to action in the email body. If a recipient clicks on your call to action, you can reasonably assume that they are engaged with your campaign. Unlike open rates, which simply show that your campaign was viewed by the recipient, click through demonstrates that the contact found your content engaging.
There are many different contributing factors which may lead to a good click through rate. You can use the inverted pyramid email structure to drive readers eyes towards your call to action.
Ecommerce activities, such as making a purchase, usually take place on a website or landing page. Therefore it is important to get the recipient to click from the email through to the landing page as quickly as possible. All emails should be optimised for this purpose.
The percentage of recipients who completed a desired action after clicking through the email. This metric not only indicates how effective your email campaign is but reflects the conversion funnel as a whole. You shouldn’t just focus on your email campaigns, you need to ensure that people don’t bounce from your landing page and that the conversion rate is high once they reach the landing page.
Conversions don’t have to be sales, these can be measured in the form of newsletter sign ups, downloads, reviews, contact re-engagement, website visits and could even be unsubscribes!
Return On Investment
Email has the highest return on investment of any marketing channel. This means that email marketing campaigns have the highest return per pound spent on a campaign.
The more people invest in email marketing campaigns, they can expect a higher return on investment. Of course, it is important to get your email campaigns right. There is little point in sending an email campaign which does not perform. A poorly designed email campaign will not perform, resulting in a low return on investment regardless of what the statistics say.
In our recent blog post, which you can read by clicking the link below, we highlighted a recent report by the DMA which stated the return on investment for email at an average £38 for every £1 spent at the start of 2015.
Total Campaign Revenue
The total revenue generated by an ecommerce campaign is a key indicator of whether the campaign is fulfilling it’s most important function – making money. The total revenue generated by an email campaign should accelerate over time as you revise and refine it if done correctly.
Marketers need to monitor the performance of ecommerce email campaigns to ensure success. By looking at the metrics we have outlined in this post, you will be able to track the engagement levels of your emails as well as the Return on Investment. These results give you a solid understanding of how you are performing on the whole.
If you have enjoyed reading this blog post about why email is the central hub of marketing, why not download your free copy of The Complete Guide to Email Marketing.