If you are thinking about re-vamping your email marketing strategy, before you start updating or creating anything new, look at your email marketing performance.
By identifying your open rates, your click rates and most importantly, your click-to-open rates, you can learn more about your mailing list, their interests and where they're at in their buyer journey so you can align helpful content to move them closer to making a purchase.
Here are the three email marketing metrics to look at:
1. Your Open Rates
Higher open rates suggest the headline and relevance of the email’s subject line caught the attention of your lead (prospect). The average for email open rates average at 20%.
2. Your Click Rates
Click rate shows the number of your email subscribers are ready to take action in these three ways:
- Your emails have interesting content that subscribers want to read
- Your emails have content which compels readers to take action
- Your emails have very clear calls-to-action
Click rates average between 3-5%.
3. Your Click-to-Open Rate
Before taking action to radically overhaul or change emails based on these email marketing benchmarks, calculate your click-to-open rates (CTOR).
Neither open rate nor click rates tell us about the true level of engagement of our email audience.
People who did NOT open the emails can’t click within them, so this skews click rates.
The CTOR formula = # of clicks / # of opens.
Using the CTOR rate we can gather valuable info about exactly how engaged our target audience is
An email that had a poor open rate (6.0%) and a poor click rate (3.0%), making the CTOR rate of 50% high.
From this measurement, we can derive that most were NOT interested in opening up the email.
Yet those who did were very active.
Create a new segment or tag contacts with a high CTOR engagement rate so you can identify your highly engaged contacts.
For those who didn’t open your email - you can try to reengage them with new subject lines and content to identify where your contacts are sitting in the buyers journey.
Pro Tip: calculate click-to-open rates (CTOR). Neither open rate nor click rates tell us about the true level of engagement of our email audience. People who did NOT open the emails can’t click within them, so this skews click rates. The CTOR formula = # of clicks / # of opens. With CTOR rate we can gather valuable info about exactly how engaged our target audience is.