Email analytics on Klaviyo (or any provider) can tell you a lot about your marketing performance. They can indicate what’s working well and where you need to improve. With that in mind, it’s important to check your email stats after every campaign is sent and make adjustments based on the numbers you see.
Keep reading to dive into what each basic analytic means and what growth opportunities it can present.
Open Rates
Open rates are the gateway to your email. If customers aren’t opening your email, then they certainly can’t click or place an order from it. So this is where we need to begin. On average, you should aim for no less than 35% as your base level for open rates. However, this may dip or grow depending on the segmentation you are sending to. For example, resending an email to those who did not open it in the past would warrant a lower open rate! Keep this in mind when analysing your data.
If your open rate is below this benchmark, it may indicate one of two things. Firstly, your email marketing database may be unengaged or you may be targeting the wrong people. Try to tighten up your email marketing segments by only emailing your most engaged subscribers first. If this solves the problem, keep your sending tight for now, then focus on flows, such as the winback and sunset flow, to re-engage those who fall out of this engaged segment.
If this is not the case, it may be your subject line that needs more attention. Try A/B testing your current style of the subject line with something a little more ‘out there.’ Before long, you’ll find what resonates most with your target audience.
Click Rates
Click rates are the next point of focus in your email marketing. Like open rates, they waver from account to account, however, you should aim around the 2% range for your emails. This will ensure you drive enough customers to your website to entice purchases.
If your click rates are dipping below this, there are also a few adjustments you can make. Try making your call to action more visible in your emails, potentially by changing the colour of your buttons. You should also check that the images in your emails are linked to the website and when you mention products in the text you should be hyperlinking it. People may not always click the buttons and may opt to click the image, instead. If this doesn’t divert them to the website, they may instantly drop off and not convert into a sale.
Above this, it’s also important to confirm that the content in your email is enticing enough. Don’t just send an email for the sake of it. Focus on providing value, either through a promotion, educational email or conversational piece.
Placed Order Rates
Placed order rates can be harder to standardise as they differ from business to business. For example, those selling mountain bikes will likely have a longer purchase cycle than those selling make-up. For this reason, it’s important to focus on the value of the sales you are receiving from email to email, and not just the placed order rate.
Aiming for around 1% placed orders is a good benchmark, however, if this 1% only makes $100 in sales, it’s not nearly as good as a lower rate with higher value sales. We recommend setting personal benchmarks around how much revenue you want to drive per email based on your previous results and then working up from there.
Some ways you can insight further orders from emails include adding product recommendations, using lifestyle imagery and highlighting the benefits of the products in your emails. Generating excitement and a ‘need’ for the product or service will also make customers who are umming and ahhing about purchasing feel all the more inclined to.
Ready to take your email analytics to the next level?
The Email By Design team understands the ins and outs of email marketing and is ready to assist you in transforming your current email performance. Get started with us by booking a free 15-minute consultation.
