One of the most imprudent decisions email marketers make is relying heavily (or even worse, solely) upon email opens and click rate and skipping deeper parameters that measure ROI. Though open and click metrics are vital parameters to maintain email deliverability, marketers need to look beyond these metrics and take a holistic view on all the metrics and parameters to fathom how campaigns are performing from delivery, visibility, spam complaints, devices being used, revenue per subscribers, email read time, subscriber lifetime and unsubscribe rate, email conversion and many more. Lack of wider perspectives hinders marketers from monitoring, measuring and evaluating effectiveness of email campaigns accurately.
There are several reasons marketers need to widen from vain email metrics to be able to take well-informed decisions to understand how their email subscribers are behaving, their email usage, actions taken, scope of opportunities, sales and many others.
Not worth if it’s not the North Star
One of the most failsafe tricks to select the right set of KPIs for an email campaign is that the chosen metrics should be able to guide marketers in which way to steer their campaigns like a ‘North Star’. The metrics should be closely tied to the campaign goals and budget, and marketers should not be stuck with other metrics that hardly indicate if emails are meeting the goals. Ideally marketers and brands should evaluate if they are using too many or useless KPIs or if they are goal oriented. The more you focus on all those opens and clicks related metrics, bigger the risks of them fixated on wrong KPIs.
Over emphasis on vain metrics
We recommend our clients and marketers not stressing on surface or vain metrics such as email opens, web traffic, and email clicks etc., while there are deeper metrics that bind subscription, email content consumption, sales conversions etc. Some companies may claim they do not wish to measure sales or ROI of their email campaigns, however, they do not need to measure ROI or other deeper metrics, why should they focus on clicks or other metrics? Surface metrics often distract marketers from overseeing their actual business and marketing goals and keeping them away from their subscribers’ preferences, uses, actions, experience or their satisfactions. That’s why measuring success of email subject lines by open rates would be an unwise metric decision, since the aim of subject lines is not limited to just getting emails opened, but to engage the right segment of prospects and customers who are interested or willing to spend time in your information or make purchases. Thus, the right audience will be the segment that will be converted and take the intended actions that emails ask or guide them to do. Hence, associating subject line success with the conversions will lead email campaigns toward success and help alleviate bounce rates that clickbait subject lines are most likely to produce.
Inadequate funnel visibility
One of the most prominent research findings from 2018 State of Email Analytics report concluded that funnel visibility into campaign performance starts plummeting after focusing too much on metrics like email opens and email clicks. If the performance starts diminishing after measuring campaigns by some metrics, then how come those metrics become email marketing KPIs? Hence, selecting the right set of metrics which are able to deep scan your email campaigns and can tell the value per subscriber, spam complaint rates, unsubscribe rate, hard bounce and soft bounce rates, new subscriber acquisition, acquisition cost, sales conversion data, overall email revenue etc. These metrics are usually the ones that brands target to track their next six months or 12 months email campaign performance.
So, are you selecting the right set of email metrics that your email marketing campaigns were actually designed to perform and achieve? Want to know if your email marketing campaigns are aligned to the right side of metrics? We are here to clear the air and make you focus and steer toward the email marketing success. Your small comment below is all we need and to start discussing 1:1. Just write down your email metric dilemma and we will take over from there.