Email Marketing and the metrics that matter the most!
It is quite certain that many of you really know what you are doing and absolutely can work your way around thousands of numbers, stats and metrics. You really rock at reporting, do your magic with presentations and are really confident when it comes to calculating your efforts’ ROI.
But… we now would like to address to the few of you that are really lost through numbers and percentages and don’t really know where to look for and get the gist out of your insights and analytics tools.
Do not worry. It happens to lots of marketers… They sometimes look at their stats after a campaign and see a plethora of information, all of which could be useful in some way or another. The question arises…
Where do I begin? And, really: What matters the most?
Unfortunately there isn’t a simple single answer, there are however two words you can add to the end of that question that makes answering it easier.
And these two words are: “To whom?”
When you add these two magic words, this seemingly unanswerable question becomes a lot simpler. So let’s look at who those two magic words might be referring to.
1. The Design Team
Now for these guys… There a few specifics they always need to know. Some of these on the list are necessities and some are niceties:
1. Mobile Vs Desktop (The difference of openers on Desktop Vs Mobile)
2. Mobile Platform (Apple mail, Android)
3. Desktop Mail Provider (Openers on Gmail, Hotmail, Yahoo etc.)
4. Click Through Rate (The percentage of people who clicked a link excluding your unsubscribers)
5. Read Time (How long subscribers read the message for)
These stats will let your design team know, where to focus their efforts: if 95% of your subscribers open on mobile they’ll want to work on the mobile version. If it’s a mail provider that supports GIFs, they might experiment on how that could incorporate into their designs.
2. Marketing Director/ Managing Director
Now for the directors, most of the time they are interested on one thing and that’s: the success of the campaigns. While some might care what your open rate was or if they open on mobiles, most of the times, they are interested on the following list:
1. Conversion Rate (The percentage of subscribers that went on to purchase as a result of the email)
2. Conversion Value (The total value of all sales as a result of the email)
3. Click Through Rate (The percentage of people who clicked a link excluding your unsubscribers)
4. Cross list comparison (How does the conversions from your USA list compare to the UK list)
Putting it simple: They want to know where the money came from and how much of it were made through the campaign/ campaigns. They trust you to make sure the design is right and that everything else is in order. They’re there just to make sure it’s a profitable channel. (If your company doesn’t directly sell something, you can relate this to downloads, subscriptions, sign up forms… The list is endless.)
3. Marketing Manager & You
This one’s easy peasy: They want to know everything. You don’t necessarily need to do anything with every metric but you should know which metrics go to who after the campaign has finished. You need to have a brief understanding of what each of them mean and in turn what action points they create for you and your department.
If one of the stats isn’t as good as expected, you need to know what needs to be done about it, you use the metrics to back up your case and assign that task to the relevant team.
You need to be the “oracle” of all and have your finger on the pulse always. Because let’s face it, if the campaigns are under-performing it’s you and no one else who gets pulled into the office.
In summary, know everything, delegate the right tasks to the right people and use the team you have around you to avoid overwhelm and increase your results.
Did we miss anyone? Let’s start talking in the comments!