When it comes to email marketing, there are some key metrics you can use to track and improve the efficiency of your email marketing. If your list is targeted well, if your messaging is spot on, and you have effective calls to action, then your stats or analytics will look great.
On the other hand, if your funnel isn't working, then the analytics will help ou figure out what's wrong.
If you're paying attention to the stats, you can spot the problems and make the changes that make a huge difference in the results you get from your list. But first, you must know your stats.
It’s important before looking at any stats to understand what your goals are for your email list and for each individual message that you send to them. With your analytics, you can start to see the best time to send your messages, what type of subject lines are more likely to get opened, and what type of messages work best to improve conversions. Let’s look at a few things you can learn by looking at your stats.
Sign Up Rates
How many people are actually signing up for your freebie, lead magnet? How many of those stay on your list after they get your freebie? If a lot of people are grabbing it, then leaving, it’s not the right item for your target audience. If people are grabbing the freebie and then opening your emails you’ve set it up right. If not, you’ll need to adjust something about your opt-in form, opt-in page, or offer.
If your open rates are lower than you want them to be, try changing the subject lines to see if that increases open rates. A well-phrased subject line can peak the curiosity of your list member enough to get them to open the message. It’s important to write compelling subject lines that don’t trick your audience into clicking through. You really want them to click through because they want to know more, not to trick them.
Open Rates vs. Conversions
If you have a good open rate, but little to no conversions then you can assume that the message needs to be reworked. Try improving your message to improve conversions. Read the message from your customers’ point of view to ensure that you’ve made your message clear to the reader. Tell them a story that engages, informs, and makes them want to do more.
Conversions vs. Purchases
If you have a good open rate plus people are clicking through your links but they’re landing on your offer and doing nothing then the problem is likely with the offer. You can tell because they were curious enough to open the email, click through to your landing page, and then they stopped there. That means you need to make your landing page better.
One small change in each of these areas can make a huge difference in conversions. Every little improvement adds up over time. Just moving your sign-up form out of the side bar to an overlay or slide as well as a feature box, can improve conversions but multiple percentage points depending on your audience.
It's important to test different types of forms, subject lines, messages, and freebies to ensure that you’re reaching your email list building goals. You need to keep trying different looks, different angles, hooks, landing page format... all the things that can effect visitors signing up to your list, staying subscribed, clicking links and making purchases.
You can use analytics to track each of those areas and get them dialed in.