34 target audience and optimise what’s working and what’s not. KPIS to track and evaluate Click through rate Looking at how many users have clicked on the link in the email is a reflection of how good the content is. This is best tracked when you have a Call to Act (CTA) embedded in the email. Formula: Clicks / emails sent x 100 = % Conversion rate This indicates the success of the key message in the email, and the percentage of users that followed the instruction in it, ie ‘sign up here’ ‘buy now’. Formula: Conversions / emails sent x 100 = % Delivery rate This is the percentage of emails delivered to people’s inboxes. Within this determiner, you can also monitor: • Bounces - the number of emails rejected by servers - if it’s a lot, why? Fix it! Poor figures of lots of undelivered emails means there’s a risk of being classed as spam. Remove addresses not being delivered to. • Spam score - the percentage of emails that went into someone’s spam/ junk. If this is happening, look at why? • Open rate A company may have a high delivery rate, but that doesn’t correlate to a high open rate which is more important. • Subscriber retention Montior the quantity of unsubscribes during the email campaign, if it’s high then why are people disengaging with the brand/content. Companies are going to want list growth, so negative need addressing, if subscriber numbers increase, then this is an indicator of what’s working. • Cost per Acquisition (SPQ) This is where companies should look at how much has been spent on the email campaign compared to the gain of new customers. Formula: Total cost of campaign / Paying customer = CPA PROS AND CONS In summary, there are advantages and disadvantages to continuously run email campaigns and the decisions on a plan of action come down to a business’s needs. Advantages Financial - a business can save money on print advertising costs, as well as digital media costs such as TV and radio. As email campaigns can be repeated regularly to a customer database, it’s also a long-term costeffective option. Permissions - as a customer would have given prior consent to using their email address for marketing material, this will increase the engagement of the mailer, therefore improving the ROI outcome. Web analytics - unlike print advertising, the success rate of an email campaign can be evaluated with web analytic software. This can be everything from the text, the design layout and the CTR rate, the results will enable a company to optimise what they do to make them as successful as possible. Disadvantages Spamming - repeatedly emailing customers could be seen as spamming. They could lose interest in what you’re promoting if too frequent and ‘unsubscribe’ reducing the database a company has of potential customers. Privacy and legal stipulations - General Data Protection Regulations have to be adhered to, so you can only use a data subject if you have consent, (although existing customers can receive marketing emails they may have not opted in for). The limitations mean databases need to be constantly checked and updated. Staffing - although digital email campaigns are, in the most part costeffective, consideration should be given to staff resourcing as you will need: someone to write/proof the text, someone to design the email and create it in a programme such as MailChimp; the mailer would need to be scheduled, fired, and have the responses monitored.
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