The purpose of your marketing is getting more business – and therefore the ultimate measurement of success is your revenue growth. But that’s the end game. In order to get there you need metrics that will indicate that your communication strategy is heading in the right direction.
Here are a few things you might want to look at:
This is your first step towards a successful email campaign. And it’s not as straightforward as you might think. There will be spam filters in the recipients email settings and if your email doesn’t seem genuine enough, the recipient will never see it. The other reason why they might not being delivered is because you have incorrect contact details. So if the difference between sent and delivered emails is significant have a look at your marketing database.
Once your email has made to the recipient’s inbox, you want to be sure they read your email. There is a lot of data on best practice in different industries, but there are also a lot of other factors such as frequency of your email communication, the seniority of the recipient and the size of the organisation. However if your open rates are repeatedly under 10% maybe it’s time to review your email subject lines, the email formats, who are you sending it from and your messaging.
When your readers click on links in your email, you know that at least they glanced at it . Even better if you are asking them to complete a form to download any asset and they do so. That’s a clear sign of engagement. Again, there is no universal number, but if your rates are repeatedly below 1% you should review your email content and the assets you are linking the email to.
Email unsubscribe rates
When people unsubscribe from emails, it’s because they are no longer relevant to them, or they don’t like the content or their frequency. So if you are losing your subscribers in big chunks month on month it’s time to do an audit. You wouldn’t want your unsubscribe rates to be above 2% at any point as that is a clear sign of a disengaged audience. If your other stats are booming, it might be as easy as slowing down on the frequency.
Following up on the call to action
You approach your audience with a message and something you would like them to do – visit your website, give you a call, purchase your product etc. Set up clear measures after each campaign and have a look at things such as website visits, increased social media activities and most importantly new business opportunities created.
Social media interactions
The truth is that having a lot of likes will not boost your revenue. But the more people engage with your business, the more exposure your brand is getting. So it’s worth having a lot of followers and likes, but more importantly you want them to be engaged with your brand – share your updates, talk about it or click through to your website.
Your website is your brand’s main representation online and measuring the traffic will give you a good idea of how well your brand is known and received. Have a look at your visitor numbers but also bounce rates and the time spent on specific pages. You will also be able to identify the most effective referral resources, search keywords and pages that your audience is interested in.