Elevate your email marketing game with insights from our collaboration with Email Uplers. Explore advanced metrics and cutting-edge strategies to revolutionize your campaigns.
Email marketing remains the pillar of digital marketing even in today’s rapidly changing digital world. So, if you are still wondering what has changed or if there is anything that needs to be changed, the answer is to transition from traditional methods to modern and advanced ways of analyzing and measuring your email marketing strategies.
We believe that open rates and click-through rates are key metrics, but they only scratch the surface. Suppose you receive a high open rate, but what afterward? Did you learn whether the audience that opened your emails actually engaged with your content? Remember that these advanced metrics are what really break the ice for your business needs.
Most businesses look to hire a certified email marketing specialist to measure the effectiveness of their email campaigns and work toward making these advanced metrics easy to execute. These advanced metrics go beyond the basics and offer a deeper understanding of your email marketing campaigns. They extract valuable information that can help you curate and hyper-personalize your campaigns and save a lot of money and resources.
But what exactly are these advanced methods, and how can you implement them in your email marketing strategy? Let’s dive right in and find out for ourselves.
Key Performance Indicators (KPIs) for Email Marketing
When it comes to measuring the effectiveness of your email marketing efforts, understanding the right Key Performance Indicators (KPIs) is crucial. Let’s dive into both the traditional and advanced metrics that can provide deeper insights into your campaigns.
Traditional KPIs
Traditional KPIs are the kind of metrics that most of us are familiar with. That’s because we have been hearing about them for a long time in our generic email marketing campaigns.
- Open Rate: The percentage of people who opened your email.
- Click-Through Rate: The percentage of people who clicked on a link within your email.
- Conversion Rate: The percentage of people who completed a desired action, like making a purchase or signing up for a webinar, after going to a landing page by clicking on the link we talked about in the previous point.
Advanced KPIs for deeper analysis
Now, let’s explore some more advanced metrics that can provide a deeper understanding of your email marketing performance.
- Engagement metrics: They can be anything from “Time Spent Reading” your email to people “Sharing” your email across their social media channels or simply forwarding it to others. They can also be the “Number of Replies” you receive from a particular email.
- Customer Lifetime Value (CLV) from email campaigns: CLV measures the overall revenue your business can potentially generate from a customer throughout their entire relationship with your company. You can attribute your revenue to specific email marketing campaigns to calculate the CLV generated by your overall efforts.
- Revenue per Email (RPE) and Return on Investment (ROI): RPE measures the average revenue generated from each email sent across your audience. It indicates the direct impact of email marketing on revenue. Whereas ROI measures the amount of money you make after putting across the costs of executing your email campaigns.
- Email deliverability and inbox placement rates: Email deliverability tells us how many emails actually make it to our subscribers’ inboxes. Inbox placement rates reveal the percentage of emails that land in the primary inbox instead of the spam folder. These metrics impact the visibility of our emails and help us work toward making more emails land in the right places.
Now, what are some advanced ways to increase the effectiveness of our email marketing strategies? Hold tight because we are about to discuss ways to boost the advanced KPIs we just discussed.
5 Advanced ways to boost the effectiveness of your email marketing strategy
1) Advanced segmentation and personalization
Segmentation plays a major role in ensuring the success of our email marketing campaigns. The earlier we realize we can’t send the same emails to each of our subscribers, the better. In fact, we need advanced segmentation and personalization to curate our emails according to the likes and dislikes of our target audience. We must consider their interests, preferences, behaviors, demographics, psychology, availability, etc., to make more effective groups and sub-groups.
Similarly, we will also be able to personalize those emails by trying dynamic content and dynamic subject lines customized to each segment of our audience. We can also try implementing triggered emails that change on the basis of specific actions and clicks. The idea is to learn about the past and craft a better strategy for the future while our campaigns are still running.
2) A/B testing and experimentation
A/B testing plays a major role in optimizing our email campaigns for the better. After having that advanced segmentation of our audience, we still need to learn what really resonates with which audience group. So, we create two different versions of our emails by changing one variable from the subject line, body content, call-to-action, design element, etc.
If we talk about advanced methods, then we can club multiple A/B testing experiments within the same email. We test more than two variations of the same email to learn about the combined impact of changes to the subject lines, images, body copy, etc., on the overall performance of our campaigns. This is also called Multivariate Testing.
3) Marketing Automation and Attribution Modeling
Now that we have segmented our audience and A/B tested them, it’s time to automate our processes. With marketing automation, we can send personalized emails and track customer interactions in real-time. Besides saving time and enhancing our deliverability, we can also gather crucial data about your customers’ behavior, ROI, etc.
Next, we need to understand the impact of each touchpoint in the customer journey and attribute credit accordingly.
Here are two ways of implementing attribution modeling: Multi-Touch Attribution and Algorithmic Attribution.
Multi-touch attribution assigns values to multiple touchpoints that contribute to conversion instead of only the last interaction just before the conversion. Algorithmic Attribution uses machine learning algorithms to analyze large datasets and determine the most effective touchpoints that drive conversions. The factors these algorithms consider are recency, frequency, and the sequence of interactions to determine accurately what has contributed the most to the conversion.
4) Integration with Customer Relationship Management (CRM) systems
Integrating our campaigns with CRM systems helps us get a 360-degree view of our customers. We can track each individual customer’s journey from opening our email to converting. Knowing this, we can tailor our communication and personalize it to each customer by segmenting them into more specific groups. This will eventually streamline our efforts and create a faster-executing blueprint for our email campaigns.
With this CRM data, we can now track the impact and performance of our campaigns with more precision. This data will also reveal how much email marketing has contributed to our overall sales and revenue.
Eventually, we will also be able to predict and anticipate the behavior of our recipients to curate and craft our email campaigns for the future. With little tweaks, we can boost the effectiveness of our email campaigns.
5) Leveraging advanced analytics tools
Advanced analytics platforms provide robust features and functionalities to track and analyze the performance of your email marketing campaigns. These tools track the key traditional KPIs and advanced KPIs we discussed at the beginning of this article. They help us understand what is working and what hasn’t worked for our campaigns, thereby enabling us to make better decisions.
Two of those advanced analytics tools are Google Analytics and Adobe Analytics.
Google Analytics offers detailed insights on user behavior, eventually teaching us how a recipient interacts with our email, where they clicked, how much time they spent, etc. Adobe Analytics helps us track conversions and engagement metrics and also integrates with other platforms to offer accurate data.
Key takeaways
Advanced measurement techniques provide deeper insights into the performance of your email marketing campaigns, enabling you to make more informed decisions and drive better results. By leveraging data-driven insights and continuously optimizing your campaigns, you can enhance engagement, increase conversions, and ultimately achieve a higher ROI. If you don’t have the expertise to execute these advanced ways with precision, you can easily hire a certified email marketing specialist. I hope you found what you were looking for. If you need any more information, please don’t hesitate to contact us or Email Uplers.
