With email marketing being the marketing channel of choice for many due to its high ROI, every wise marketer will make sure to employ it to its fullest potential.
What is the conversion rate for email marketing?
While running an email campaign may seem like a simple matter of creating amazing emails and sending them out, there’s actually more to the process.
One of the most important aspects of running an email campaign is tracking and understanding your metrics, with one of them being your email marketing conversion rates.
Source: Campaign Monitor
What is an email marketing conversion rate?
The conversion rate for email marketing refers to the percentage of subscribers who received your email and completed a goal you set.
Your goals for a campaign depend on your business type and what you want to achieve. Some of them include:
- Downloading a resource
- Buying a product
- Clicking a link
How is the conversion rate for email marketing calculated?
Your conversion rate can be calculated using the following formula:
Email Marketing Conversion Rate = Number of Conversions / Number of Delivered Emails ×100
In your calculations, be sure to subtract bounced emails from the total number of emails to ensure you have an accurate figure.
Does it really matter?
Knowing the conversion rates for email marketing—yours and the industry average—is essential.
Here are some implications of the conversion rate:
1. It shows the effectiveness of your campaign
Your email conversion rate is an indicator of the effectiveness of your email campaign. The purpose of most, if not all, email campaigns is to get your subscribers to take a certain action (or convert). Therefore, the conversion rate is the best metric to gauge whether your email campaign is meeting its goals or not.
2. Helps you optimize your campaigns
Keeping tabs on your email marketing conversion rates is a great way to tell if your campaign has some weak areas that need to be fixed. When it comes to conversion, there are 3 elements that have a direct impact on your rates:
- Email subject line: A poor email subject line leads to low open rates and, thus, low conversion rates.
- Email copy: Your email copy should encourage your reader to take action. Weak email copy will result in most of your readers failing to convert.
- Your CTA: Your CTA, both the text and the button design, are critical in ensuring that your readers convert. If your CTA is poorly designed and misplaced in your email, it will result in fewer conversions.
3. Helps determine your email marketing ROI
Your email marketing conversion rate is also helpful when determining your email marketing ROI, as your conversions are the main purpose of running your campaign.
As a savvy marketer, you will have to harness this important piece of data and put it to good use in running your next campaign.
Conversion rates are not to be ignored as you analyze your email campaign’s progress and effectiveness. The higher the conversion, rate the better.
To help you achieve your goals of improving the conversion rate of the email marketing campaign in your business or organization, we have created a number of resources to help you. In particular, check out this article on improving email engagement rates.