Email marketing is the most effective way to engage with prospective leads and customers. But, with that being said, not all campaigns are equally effective.
So, how do you know which campaigns are driving the best results? In order to answer this question, you need to be regularly tracking your email marketing performance to determine what is working and what is not. This means understanding your email marketing metrics and KPIs.
When determining the metrics you will use to track your performance, you need to first identify your goals. So ask yourself, ‘what is my objective with this campaign?’ Is it to generate more leads? Are you looking to increase engagement?
Whatever goals you are looking to achieve, you will want to use metrics that can measure both your outcomes and your progress towards reaching those goals.
Top 10 Metrics To Track Your Email Marketing Performance
Each campaign will have its unique set of priorities, but, there are a few metrics you should always consider when tracking your email marketing performance. Let’s take a look at them in more detail:
When running your email campaigns, tracking open rate will give you a good indication of the success of your marketing efforts. This metric will tell you the percentage of recipients who opened your email, in other words, it will highlight how engaging your subject line is.
When creating your email campaigns, your subject line should be engaging enough to compel recipients to open your email. So if you notice your open rate is low, you may want to A/B test a few different subject lines to see which one best resonates with your audience.
Calculation: (Total number of people who opened the emails / Total number of people who received the email) x 100
Click Through Rate (CTR)
CTR will tell you the percentage of people who clicked on a link in your email. This is important because once a recipient opens your email, you want to ensure you increase your chances of achieving a conversion.
As more recipients click a link in your email, the higher your chances will be of getting that recipient to perform your desired action. If you notice a decrease in CTR this could indicate that your audience may not be finding your content relevant.
Calculation: (Total number of people who clicked a link in your email / Total number of emails delivered) x 100
Unsubscribe rate will measure the percentage of users that unsubscribe from your mailing list. Even though this may sound like a negative metric, a change in your unsubscribe rate does not necessarily mean you need to change your strategy. Your subscribers will naturally unsubscribe from mailing lists over time, so by regularly monitoring this metric, you will have a better understanding of what normal rates look like for you.
You can also use this metric to monitor the quality of your mailing list. You want to ensure that engaged contacts remain on your mailing list and that unengaged contacts unsubscribe.
Calculation: (The number of unsubscribes / the number of emails delivered) x 100
Conversions will look at the number of people who completed a desired action. This metric can be used to highlight the impact of your marketing efforts. To clarify, a conversion does not necessarily mean a purchase; it can be anything that you identify as valuable such as signing up for a free trial, downloading an ebook, watching a video, and more.
If you notice your conversions are low, you may want to review the content on your landing page or optimize your email call to action (CTA).
Nowadays, email providers make it easy for recipients to use filters to mark emails as spam, making it harder to ensure your email finds its way into the inbox. Your spam score will highlight the inbox friendliness of your emails. So with this in mind, it is essential to regularly monitor this metric.
A high spam score will affect the deliverability of your email campaigns and damage your domain reputation. It can also indicate your recipients are not valuing your content so if you keep receiving a high spam score you may want to think about readjusting your strategy.
You can use bounce rate to measure the number of emails that were sent and were not successfully delivered. Bounce rate can be categorized into soft bounces and hard bounces.
Soft bounces refer to emails that were not delivered due to a temporary problem with the recipient server. In contrast, hard bounces are emails that were not delivered due to the address being invalid or non-existent. Emails that have hard bounces should be immediately removed from your mailing list. Even though bounce rate is not used to track the progress towards your goals, it can help you flag any issue you may have with your mailing list.
When running an email campaign you want to keep your bounce rate as low as possible. A high bounce rate will affect your sender’s reputation consequently impacting the overall success of your campaign.
Calculation: (The total number of bounced emails / the total number of emails sent) x 100
List Growth Rate
Your list growth rate will allow you to monitor the rate at which your mailing list has grown. When building your email list, you want to ensure you always maintain a healthy size in order to expand your audience and extend your reach.
Over time, your mailing list will naturally decrease in size as contacts will unsubscribe, change their email addresses, delete accounts, and more. With this in mind, make sure to put strategies in place around lead generation to replace those lost contacts.
Calculation: (Total number of new subscribers – total number of unsubscribes) x 100
Social Shares and Forwards Rate
Social shares and forwards rate is an often overlooked metric, but the truth is that it can provide you with a lot of insight into your email marketing campaign. This metric will tell you the percentage of people who click on the ‘Share’ button in your emails.
Encouraging your recipients to share your emails with friends, family, or colleagues will allow you to attract more leads. You can also use this information to understand the content types that are most engaging to your audience and can be useful in shaping future campaigns.
Calculation: (Total number of forwards & shares / total number emails delivered) x 100
Return On Investment (ROI)
Return on investment (ROI) will help you track the value you receive from your email marketing campaign. This metric will give you tangible results that allows you to highlight the effectiveness of your marketing efforts.
Calculation: (Total revenue – total spend) / Total spend
An email client is a program that allows users to access and manage their emails. Knowing your recipient’s email client is a great way to impact the performance of other metrics.
As an example, if you know the majority of your recipients use Outlook, you can use this information to create email templates that are optimized for their specific email client. Knowing this will help you maximize your campaign performance.
Track Your Email Marketing Efforts With Databox
Databox is a Business Analytics platform designed to help companies monitor, analyze, and improve on the performance of the metrics that matter the most. With Databox, you have access to a variety of reporting features that allow you to track data from multiple platforms in one centralized place.
Let’s take a look at a few features that you can use to track, automate and report on your email marketing performance:
Rather than jumping from platform to platform trying to understand your email campaign performance, you can easily sync all of your data into Databox in just one click. Databox’s Data Manager gives you access to 70+ integrations including the most popular email marketing platforms like Mailchimp, HubSpot, Klaviyo, ActiveCampaign, and more.
If you want to sync data that is not natively available to Databox, you can use the SQL database, Google Sheets, Excel, and third-party tools like Integromat and Zapier.
Each integration connection will give you access to hundreds of pre-built metrics that you can pick from to facilitate your ability to track your performance.
With Databox’s Metric Library you can browse through 3,000 different pre-built Datablocks that combine commonly used metrics and visualization types. You can easily drag and drop the Datablocks into a dashboard allowing you to create a custom dashboard in a matter of minutes.
If you are looking to provide more context into your email marketing performance, you can use Data Calculations to manipulate your data through an equation. With Databox’s easy-to-use interface, no coding experience or spreadsheets are required to create new calculated metrics.
Common use cases for data calculations include ROI, unsubscribe rate, open rates, and much more!
If you are looking to track your progress towards reaching your goals, you can use Databox’s Goals feature to stay up-to-date with your performance. As an example, if the goal of your email marketing campaign is to generate more leads, you can set a Goal in Databox around the number of new contacts that have subscribed to your mailing list. You can combine goals with notifications so you are automatically notified when your goal has been reached!
Databox Alerts can be used to automatically notify you when there are any changes in your campaign performance. When an Alert is triggered, it may indicate you need to adjust your strategy and include an Annotation in your charts to highlight significant activities.
When running an email campaign, you can use Alerts to get notifications on metrics like bounce rate, spam score, unsubscribe rate, and more. With this feature, you can use conditioning statements to send an alert when a metric is greater than/ less than your desired value.
Databox’s Dashboards allow you to combine data from multiple platforms into a single view, facilitating your ability to monitor and report on your email marketing performance. You can also create dashboards to drilldown into the performance of one specific campaign. This is a great way to gain a better understanding of the ways you improve performance and maximize your ROI.
Once you have created your dashboard, you can easily share your data and track your goals. The most common ways are by using a shared link, scheduling automatic dashboard sends or c
asting it on a TV. No matter what device you are using, Databox Dashboards are optimized to adapt to any device and any screen size.
5 Free Dashboards Templates To Track Email Marketing Performance
With Databox, you get access to free ready-to-use email marketing dashboard templates that include the data and metrics from the most popular email marketing platforms.
HubSpot Email Marketing Overview Dashboard Template
The HubSpot Email Marketing Overview Dashboard template includes all metrics you need to track and measure the success of your email marketing efforts. This dashboard template will help you understand your overall open rate, email click rate, clicks, and new subscribers, providing you with a great view into your email marketing pipeline.
Integration: HubSpot Marketing
Klaviyo Dashboard Template
You can use the Klaviyo Dashboard template to learn more about how your emails are performing in real-time. The insights generated from this dashboard will enable you to improve your email marketing campaigns and business at large.
Mailchimp Dashboard Template
With the MailChimp Dashboard template, you can measure the overall performance of your email campaigns. With its easy-to-understand data visualization, you can monitor metrics like unsubscribe rate, open rate, and click rate, while also identifying your most successful campaign.
ActiveCampaign Overview Dashboard Template
The ActiveCampaign Overview Dashboard template provides you with a complete picture of your email marketing and sales performance. You can use this dashboard to help you answer questions related to the health of your email list and deals.
Sendgrid Global Stats Dashboard Template
With the SendGrid Global Stats Dashboard template, you can learn more about your email deliverability, open rate, and click rate performance. You can use the data in this dashboard to determine your list growth rate as well as your top-performing campaigns.
Start Tracking Your Email Marketing Performance
When you are running an email marketing campaign, it’s important to determine the metrics and goals that you will use to track your performance. Using a third-party tool like Databox, you can easily drill down into the performance of your campaigns in order to understand how to optimize your results.
Databox allows you to connect your email marketing platforms and easily create visually appealing and intuitive dashboards in a matter of minutes. Sharing your dashboards will allow you to automatically track your performance across all of your campaigns, giving you more visibility into the ways you can improve your strategies moving forward.