As much as I am a fan of all the latest and greatest Social Media and Digital Platforms for Marketers…in my mind and personal experience nothing comes close to plain ol’ fashion, boring e-mail!
Allow me to explain…believe me that I am a HUGE supporter with both my time and money of marketing on Facebook, Twitter, Pinterest, YouTube, LinkedIn, etc. However, in the current digital marketplace, if e-mail marketing is executed correctly, there is no greater ROI on money and effort spent. As we transition our information consumption habits from static to streaming (picture a traditional email inbox vs a twitter feed), anticipated email messages will have greater impact and engagment from your customers than a quick post, tweet or pin that they might never see.
Having an email address is more intimate and personal. I would rather have 1,000 email addresses from customers who have raised their hand to hear from me, than to have 100,000 Facebook fans who may never care whether they hear from me or not! The problem with most brands and brand marketers is that they only fall in love with the cursory numbers of their campaigns. If they garner 200,000 new fans, they are dancing in their cubicle and high-fiving their teams. However, as most anyone who has been marketing online for more than 5 minutes understands, it’s all about engagement, conversion and rank. When I look at the analytics and scores of most brand pages, it is absolutely dismal how low the metrics are and worse, the marketing teams don’t have a clue!
It’s time to take a renewed interest in proper e-mail techniques and best practices. In the recent MarketingSherpa 2013 Marketing Analytics
Benchmark Report, it revealed that over 60% of marketers gain little to no insight from the analytics they track. Read that stat again…That’s 60% of marketers unable to gauge the effectiveness of their marketing!!!
Too often marketers are tracking the wrong metrics. Worse yet, they don’t even know to ask what metrics they SHOULD be tracking. They either blindly listen to their agency “experts” or they get distracted by the numerous statistics available and fail to focus and track the only email marketing metric that matters.
* It’s not your email open rate.
* It’s not your email click through rate.
* It’s not your email unsubscribe rate.
* It’s not your email delivery rate.
* It’s not your forwards and social media shares.
What is the most important email marketing metric? Your Conversion Rate!
Your Conversion Rate answers the question – How many subscribers completed the action that you wanted? (Your CTA)
Did your email achieve the goal of getting subscribers to view a video, redeem a coupon or register for your product/service?
Your conversion rate measures the effectiveness of your email. If you fail to track your conversion rate, you won’t know if the
emails you send are working or not. You will venture down the path of ineffectiveness because you are not asking the right questions!
How do you track your conversion rate?
The easiest tool to use is also free. It’s Google Analytics.
With Google Analytics you create tags that you add to the links in your email marketing messages. Google Analytics then tracks the actions subscribers take after they have clicked through from your email to your website.
When you start monitoring your conversion rates, you’ll have the knowledge you need to succeed with email marketing.