Whilst reporting can be a little tedious, it is essential to keep track of your email metrics to be able to truly measure your progress and success. How else will you be able to know which Campaigns have been most successful and which ones are not working for your brand?
Here at Email By Design, we have just completed Q1 analysis for all our clients. So, let's take a look at the top 3 email marketing metrics to regularly review.
1. OPEN RATES are an obvious one as they essentially tell if your emails are getting read! Testing your subject line often will help increase open rates and paying attention to your segmentation strategy can also raise the open rates significantly.
2. CLICK RATES indicate how engaged your customers are with the Campaigns. Having customers take action by clicking on different parts of your email will improve the success of your email marketing and send traffic to your website. Testing the position of your Call-To-Action buttons may reveal what works best for your brand. But what if your click rates are low?
3. CONVERSION is just as important as the first two metrics and sometimes you may well find that click rates are low but the Campaign can still generate high revenue. Hence a balanced approach in analysing these figures is valuable to getting a more accurate picture of how effective your email marketing is. When Campaigns have high conversion rates, it should be noted and replicated, with the addition of more testing and tweaking of layout to improve Click Rates.
Finally the dashboard in Klaviyo is particularly helpful as it offers a macro viewpoint, showing total business revenue for any specific period, as well as providing summary breakdowns so you can tell how much of that revenue is coming from Campaigns, how much comes from Flows, and also which portion of revenue is generated by SMS.
Here is an example of the data you can obtain:
As you measure your progress and celebrate your successes, use your metrics to guide your business decisions and assist you to plan future Campaigns well. And should the figures become a little too overwhelming, feel free to reach out to us for a lending hand. We can turn those metrics into actionable monthly Email Strategies!