So what's all this buzz about e-mail marketing? E-mail marketing is becoming increasingly popular because it is easily customizable yet can be sent out in bulk. However, for it to be successful, it's important to track the right metrics so you can adjust your tactic appropriately. Here are three metrics you can use to to determine profit and effectiveness of your e-mail marketing:
1. Bounce rate
Bouncing is when the e-mail address you sent your e-mail too is invalid, meaning the person discontinued it, there was a typo, etc. This unnecessarily includes people that aren't receiving your e-mail, wasting both time and resources. Be sure to take these e-mails out of your list so you can get a more accurate representation of other metrics. The average bounce rate is a little under one percent.
2. Open rate
The open rate is the percentage of people that actually open the e-mail once it lands in their inbox. The ideal open rate is about 10 to 15 percent, but this number can highly vary depending on what type of business you are involved in. If not many of your prospects are opening your email, you may have a problem. It might be time to start thinking about strategically removing part of your customer base from your list so you don't appear to be excessive.
3. Conversion rate
This metric should be one of the most important things you are concerned with regarding your e-mail campaign. This is the number of people that actually follow through with your marketing tactic, whether that be purchasing your product, downloading something, or simply just entering in their information. Again, this number varies quite a bit depending on a lot of different factors, so be sure to set a realistic number as your goal.
Bare Bones Marketing is happy to help you get your e-mail campaign going, along with any other marketing needs you may have! Give us a call at 512.571.2296 and let's talk marketing.