One of the most appealing aspects of email marketing is the ability to measure its success. As the mid-year approaches, let’s get back to basics and review some campaign metrics and their usefulness in measuring email marketing success. This is particularly important before attempting to integrate with other digital channels and trying to quantify the relative impact of email as a business driver.
Analyzing performance metrics can be a bit more challenging than it may initially seem. Because there is so much data available, it can be difficult to sift through and identify the metrics that give you the quickest feedback on your success. Add to that the lack of standardization around email metric definitions and you may be left scratching your head.
There are two categories of basic email metrics. The first consists of the classic engagement metrics. The second category looks more deeply into the conversion aspect of your email programs and typically involves monetary analysis. (Of course, there are many other components to consider when evaluating your email program’s success, but getting the basics right is a vital first step.)
Classic Engagement Metrics
Classic engagement metrics, or those that indicate campaign activity, are the metrics with which we are all most familiar. And with that familiarity comes a bit of convolution as we consider several varieties of these basic metrics. What is most accurate, relevant, and/or usable? We primarily consider measurements of opens and clicks in this category. And we often consider both total and unique counts and rates for each. These metrics are aimed at evaluating different aspects of your email efforts as follows:
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