Are these numbers actually helpful to track?
Data driven marketing is definitely all the rage right now. Numbers can certainly be helpful—if you don’t know whether or not you’re hitting your Key Performance Indicators, it can be hard to tell how close you are to reaching your business goals. But there’s also the possibility of Analytics Fatigue—being hit with so many numbers that you don’t know what to do. Which ones are essential? Which ones can be ignored? Which ones are game changers?
E-mail marketing has a ton of analytics you can track. But are they worth your time and energy?
Open Rates: YES
How many people are opening your e-mails? This rate is important because it has to do with your bottom line. E-mail marketing isn’t cheap, and if you have a ton of people on your list who haven’t opened an e-mail in over a year, you’re just spending money to keep people on your list that aren’t doing anything for you. A large e-mail list with a low open rate is just a vanity metric.
Unsubscribe Rates: NO
If people are unsubscribing from your list, that means they don’t want your content in their inbox. Guess what? That’s a good thing—you don’t want people on your list that don’t want to hear from you. Don’t stress out over unsubscribes.
Conversion Rates: YES
If you send out an e-mail with a call to action, how many of your subscribers take that action? This is an important metric because it shows how effective your e-mail marketing actually is. A large list with a lot of people reading is great—but are they taking the next step of actually buying your products and services?
Number of Subscribers: NO
Your number of subscribers seems like it should be the most important metric. But instead of having a goal subscriber number, try having a goal conversion rate and then growing your list as rapidly as you can. If you’re putting out great content, your list will grow without a ton of additional effort.
If you try and initiate a conversation within your e-mail marketing, like asking a question of your subscribers, do people actually jump into a conversation with you? This helps you identify how engaged your subscriber list is and whether they see you as actual humans or just a faceless brand.
Many e-mail marketing platforms allow you to see how many people are forwarding your e-mails to others. Is it a fun number to check out? Sure. But is it one you should lose sleep over? Probably not.