It’s well known that email marketing is a ‘gold mine’ for marketers, offering a captive audience that is likely to convert into buyers. As a result, it is not surprising that every major marketing player has dipped their toe into the waters of email marketing.
However, just because a campaign worked for one brand or product doesn’t mean it will work for your company too. The success of an email marketing campaign depends on many factors, such as;
The Type Of Email Marketing You’re Doing
Depending on your target audience, you may want to consider some form of digital marketing over traditional forms of advertising. For instance, luxury brands that target millennials might choose to build their brand on social media channels instead of TV commercials.
This is because millennials are more likely to have a personal connection to someone they are engaging with online versus watching TV. In addition, millennials prefer shorter videos, so you may want to consider using videos in your marketing strategy.
The Type Of Content You’re Using
The content you use for your marketing emails will affect the success of your campaign. Ensure you choose content that is relevant and of good quality. If you’re looking to optimize email campaigns, you may want to consider using content curation rather than creating new content.
Why? Because content curation allows you to effectively pull content from all over the web, into one place, making it easily digestible and more engaging for your audience. Plus, you can always use content from different publishers to show varying perspectives. When generating content for your email marketing campaigns, take a little bit of everything into consideration, and don’t be afraid to try new things. This will make your emails stand out, and ensure your potential customers remember you.
The Type Of Delivery Method You’re Using
If you’re sending an email, you might want to consider using a specific email provider’s software to do so. This will ensure your emails look consistent and are delivered in a timely manner. On the subject of delivering emails, make sure you test different methods of contact to see which one is most effective. You may want to consider sending out a weekly digest of the most recent articles, rather than a standalone email every month. This way, you’ll keep your audience engaged and ensure they remember you.
How Many People You’re Aiming To Reach
The number of people you want to reach with your email marketing campaign is known as your ‘viewership.’ When determining how many people to aim for, take into consideration how often your target audience interacts with other content creators in your industry. For example, if you’re an e-commerce store owner, you may want to consider sending out an email every time a customer makes a purchase. This way, you’ll stay top of mind when they are planning to make a purchase in the future.
To calculate how many people you should aim to reach, use this formula:
- the total number of people you want to reach (viewership)
- the average number of times your audience interacts with other content (social shares)
- multiply the two to get your total ‘reach’
- divide by 2
What Is Your Conversion Rate?
Your conversion rate is the number of people who take some action after being contacted by you. Typically, you’ll want your conversion rate to be as high as possible, and there are a number of ways you can go about achieving this.
For example, you can use lead magnets to get people to sign up for your email list. Alternatively, you can ask them to fill out a form or take a survey. Once you have their contact details, you can use automated email campaigns to stay in touch, and promote your products or services.
To calculate your conversion rate, use the following formula:
- the total number of leads or customers (subscribers or trialists)
- divide this number by the total number of contacts you have
How Many Times Do You Send Each Email?
As a rule of thumb, you should aim to send out a fresh email every two weeks. This will help you keep your audience engaged, and ensure they remember you when you next send them marketing material. If you have more complex marketing material, such as a large product catalog, you may want to consider sending out a digest every week.
To calculate how many times you should send a specific email, use this formula:
- the total number of times you want to send the email
- subtract this number by 2
- this is how many days you should wait before sending out the next email
- the total number of people who opened the email
- divide this number by the total number of people who received the email
- the total number of people who clicked on a link
- divide this number by the total number of people who opened the email.
- the total number of interactions with your content (likes, comments, and shares)
- divide this number by the total number of people who interacted with your content
What Is Your Open Rate And Click-Through Rate?
An ‘open rate’ is simply the percentage of emails that were delivered to your audience, regardless of whether or not they opened the email. Your ‘click-through rate’ is similar, but it also takes into consideration whether or not your audience clicked on a link within the email.
To calculate your open rate, use this formula:
To calculate your click-through rate, use this formula:
How Is Your Engagement Rate?
Your ‘engagement rate’ is the number of people who took an active role in your email marketing campaign, either by liking your content, sharing your content, or leaving a comment on one of your blog posts.
To calculate your engagement rate, use this formula:
When developing your email marketing strategy, it is important to consider everything from the point-of-view of the customer. By doing this, you will ensure you choose content that is relevant and of good quality. In addition, try new things, ensure you test different methods of engagement and track the results of these tests to determine which one is most effective. As marketers, we are always looking for ways to improve our results and ensure we are achieving maximum returns on our investment. At the very least, these benchmarks can help you determine if your current approach to email marketing is working, or if you should try a new strategy.