Email is one of the most important marketing channels for businesses of any type, size, or scope. Email tracking and analytics are key for gaining meaningful insight into email campaign performance, gaining insight into customer email activities, and fully leveraging email marketing data readily at your disposal.
Why is email marketing important?
Email marketing is the act of sending targeted emails to your audience to promote your business’s products or services. When strategically intertwined with your overall marketing strategy, email marketing helps with brand awareness, lead generation, relationship building, and customer engagement.
When it comes to engaging with prospective and current customers, there are many popular and “clever” methods available, most of which rely on social media. While there is certainly a place for social media in your overall marketing strategy it should not replace that of email marketing. Because, unlike all social media platforms, you own your email list of subscribers. Social media is rented ground and a risky place to put all your customer engagement marketing strategies because those accounts can and often are shut down without warning or algorithms change harming your ability to reach your target audience. Enter email marking. Email marketing stands out from the crowd, not only because you own your list, but also because more than 70% of consumers prefer communicating via email, whether for personal purchases or for business transactions. For every $1 spent, email marketing generates at least $38 in ROI. According to McKinsey, email is 40 times more effective than Facebook and Twitter for customer acquisition – and email isn’t rented ground.
Simply put, email marketing is well worth the effort and a strong bet for business growth.
However, not all companies see the value in email marketing, which is reflected in their boring, poorly formatted emails sent to the wrong audience at the wrong time. These emails are either repeatedly ignored or labeled as spam. The email size may grow but it doesn’t always translate to viable profits.
A straightforward solution for marketers is to understand the audience better and to genuinely engage in what they want and expect. Using email tracking and analytics is the only approach to achieve these goals.
Which KPI’s matter?
- Click-through rate. This refers to the number of recipients who clicked links in your email. Brainstorm and create content that is valuable, relevant, and interesting to your subscribers’ interests.
- Open rate. This refers to the number of opened emails vs. the number of emails delivered. Intriguing or catchy subject lines that match the email content will encourage more opens.
- Email deliverability. This refers to the number of emails delivered to subscribers’ inboxes vs. the total number of messages sent. Key here is to keep your email list current and free of broken or bounced email addresses.
- Unsubscribe rate. This refers to the number of users who clicked the unsubscribe link. Whenyour unsubscribe rate is more than 0.05%, evaluate the content quality, sending frequency, or the email personalization level.
- Bounce rate. This refers to the number of emails that are not delivered successfully. A hard bounce indicates an invalid email address or domain name. A soft bounce indicates temporary issues such as maintenance of the recipient’s server or a full inbox.
- Conversion rate. This refers to the number of subscribers that converted to customers.
What are the benefits of email tracking and analytics?
Email tracking and analytics is the process of monitoring the delivery of emails and the actions made by the recipients – time or day the content has been viewed, if the attachments have been opened, or how many seconds or minutes are spent reading the email.
- Better ROI Tracking. SwaysEast’s Riptide email tracking tool monitors recipients’ actions, e.g., when they clicked on the CTA, when they viewed the landing page, or when they visited the website. This will help determine the ROI of any email marketing campaign.
- Better Email Creative. Email tracking and analytics can help determine link placement, subject lines, and other email aspects that would yield the highest ROI. Do A/B testing using a small group of subscribers to monitor which email generated the more clickthrough’s, referrals, and conversions.
- Accurate Marketing Strategy. Knowing which email gets opened the most and other data-driven insights can inform about the message type, content length, or the best time and day that work for specific groups of audiences.
- Effective Prospect Targeting. With email tracking and analytics, it is easier to monitor subscribers interested in your products or services – allowing you to channel your effort, time, and resources toward engaging with them instead of working blindly.
- Improved Customer Journey. Tracking email campaigns is useful for improving messaging strategy, site design, and other features that can lead to higher conversion rates.
SwaysEasts’s Riptide is the only Email Tracking Tool you need.
Send personalized emails to your target audience using data-driven metrics. Try Riptide for FREE. See what it can do for you today.