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5 new metrics to improve your email marketing!

When we think about email marketing metrics, the first things that come to mind are definitely opened and clicked rates. When thinking a little further, we also take unsubscribe rates, delivery rates, bounce rates, date and time reports into account. And let's be frank about it: these metrics are the backbone of any solid reporting… but they don't completely reveal how your email marketing strategy affects your business.

Over the past years, two main drivers have taken email reporting to the next level: the technological evolution and the changes in the marketplace.

Technological improvements have allowed us to track the complete relationship between brand and customer throughout the entire sales funnel. We can now effectively measure the relationship from first point of contact to after-sales, without loss of data.

The changing of the marketplace, meaning the impact of SoLoMo (SOcial, LOcal, MObile), challenged email marketers to find specific reports for this market.
Feel like you've missed out on something? No worries, here's an overview of 5 reports to take your email marketing to the next level.

1. Share rate

This is a submetric of the clickrate. It measures how shareable (or viral) your content is. It tells you a lot on the true value of your content to your contact and their network. You can crank it up a notch by measuring the network size and discover how many extra impressions one share truly has.

2. Email contact life span

An easy, but not very widespread metric is to calculate the average customer email life span. Simply put: on average, how long will someone stay subscribed - from signup to unsubscribe. Knowing this, you can set up a program before the potential unsubscribe, to get people re-engaged.

3. Cost per contact/revenue per contact

The exact cost per new signup and the revenue this contact generates. Bet those are the kind of reports your CEO will love! Need extra budget? Calculate these two metrics and you'll have a well-funded base to calculate the revenue per extra contact. What more could you possibly need to get you those extra funds?

4. PC/tablet/mobile spread

Which devices do people use to read your emails? Many email marketers make the mistake of thinking the answer lies in finding out how much you should invest in mobile-friendly emails. That's just a part of the answer. Because the way people are dealing with your email has changed, so should your entire story after the click. An example? If you send a nice responsive HTML email to your contacts, but offer a flash-based site after the click, you'll probably lose your iPad and iPhone readers. So make sure you have a logical flow ready for your pc, tablet and mobile readers.

5. Sign-up spread

Most companies have multiple sign-up possibilities for their email marketing service. You can sign up via their website, offline, Facebook, …but what's really interesting is to see which percentage of your database comes from which channel. Or even better: how are you converting on every page separately?  Calculate the percentage of website visitors who actually subscribe, or compare the percentage of likes on Facebook to new subscribes on Facebook… you'll have a solid base to make the right investments in other channels.

Conclusion

Basic reporting is still a solid backbone to any email marketing strategy. But keep the 5 metrics above in mind to really start optimizing your email marketing campaigns.

Posted on
Apr 18, 2013