{"id":11370,"date":"2018-08-09T18:54:33","date_gmt":"2018-08-09T13:24:33","guid":{"rendered":"https:\/\/email.uplers.com\/blogs\/?p=11370"},"modified":"2020-09-13T17:50:48","modified_gmt":"2020-09-13T12:20:48","slug":"email-metrics-analysis-how-to-create-better-campaigns","status":"publish","type":"post","link":"https:\/\/email.uplers.com\/blog\/email-metrics-analysis-how-to-create-better-campaigns\/","title":{"rendered":"INTERVIEWING Kath Pay: Email Metrics Analysis & How to Create Better Campaigns"},"content":{"rendered":"

Hey Kath, you being an expert in the email marketing industry offering holistic services, I\u2019m sure fellow marketers would love to be enlightened with your insights into Email Metrics Analysis & How to Create Better Campaigns from it.<\/strong><\/p>\n

Well to start with, what are the most important email metrics you can measure from an email campaign?<\/strong><\/p>\n

Kath Pay:<\/strong> It all depends upon what your objective is. For example, if you are a publisher and are paid by advertisers on opens, then opens will be. If you\u2019re a retailer and you want to sell items then AOV, number of items sold, and purchase value will be your key metrics. That isn\u2019t to say that you ignore all the other metrics, such as Opens, Clicks, Click-to-Open Rate, time on site, bounce rate <\/b>etc. These should all be used in conjunction with your key metrics.<\/p>\n

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\u00a0How long should you ideally wait after sending an email campaign before you can begin measuring the metrics?<\/strong><\/p>\n

Kath Pay:<\/strong> Again, it depends (sorry!) – this time on your sales cycle as well as your objective. If you\u2019re B2B or sell high-value items<\/b>, then reporting on the campaign within one week probably isn\u2019t going to do you any favors. Whilst most companies should start looking at the metrics within a couple of hours, this shouldn\u2019t be when you record them.<\/p>\n

Interrogate your full customer data to find the right time to be reporting on these metrics. It will not only help you when it comes to testing, but you may find out, as a brand I know did, that those who open your emails immediately, may be fans and are engaged but not necessarily buyers. They found that those who opened the email on day 2 & 3, were much more likely to purchase than those who opened on day 1.<\/p>\n

Other than open rates, click rates and unsubscribes, what other email metrics should an email marketer measure?<\/strong><\/p>\n

Kath Pay:<\/strong> Metrics \u2013 especially campaign metrics \u2013 generally fall into two general categories: process metrics<\/b>, which measure activity on your email messages, and output metrics<\/b>, which measure how well your emails achieved your business objectives, whether at campaign level or company-wide.<\/p>\n

Process metrics<\/b> are the easiest to track but don\u2019t always deliver the greatest insight on how well you achieved your objectives. Marketers often use process metrics to determine success or failure of a campaign, but that\u2019s not what they\u2019re intended to show. Each of these metrics is more meaningful as trend indicators over time rather than a measure of individual campaign success or failure:<\/p>\n

\"Process<\/p>\n

<\/i>Note: There are certain loopholes. For instance, when you are measuring Open Rates, in devices such as the iPhone all images render by default, which may show as an open when the recipient was merely flipping through their inbox. They may have technically opened the email but certainly did not have the time to read it.<\/i><\/p>\n

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Output metrics<\/b> measure business objectives and are much more reliable when assessing campaign and email programme performance:<\/p>\n

\"Interview<\/p>\n

Should we be measuring metrics beyond campaigns?<\/strong><\/p>\n

Kath Pay:<\/strong> Email marketers tend to be very campaign-oriented. This is logical, as we send campaigns, so we measure success in terms of campaign metrics.<\/p>\n

But, beyond measuring the success of our individual campaigns or even collective campaigns over a period such as a month, there are many other valuable metrics we should be measuring other than campaign metrics. Here are a few of them:<\/p>\n

Customer Lifetime Value (CLTV)<\/b><\/p>\n

In a recent report we wrote on email marketing personalization, we found an incredibly valuable insight. All marketers who measured the success of email personalization<\/a> using subscriber-metrics such as Customer Lifetime Value along with campaign metrics like clicks and conversions, saw a lift, while only 89% of those who used only campaign metrics saw a lift.<\/p>\n

These results confirm that personalization is a customer tactic\u00a0 and as such, we should be using subscriber metrics such Customer Lifetime Value to be measuring the success of it. This also clearly shows that what we measure must map back to our objective. There isn\u2019t just one set of metrics we should all measure.<\/p>\n

CLTV also comes to play when we are requested to send that last minute, discount-driven email campaign to ensure the company meets their monthly targets. What long-term price are we paying for these short-term target successes? I\u2019m not saying that we don\u2019t do this, but let\u2019s just be aware that these types of last-minute campaigns can often have a negative effect on our CLTV<\/em>.<\/p>\n

The more we know, the more we can make decisions accordingly. For example, if your company\u2019s goal is to hit their targets on a monthly basis, fully knowing that they\u2019re reducing the CLTV, and you have a robust and successful acquisition programme in place, then that\u2019s fine. If, however, your company\u2019s goal is to drive increased CLTV, and you\u2019ve done your analysis and found that these campaigns do have a negative impact on CLTV, then you now know that you need to find alternative tactics to drive those monthly sales<\/strong> to reach the targets.<\/p>\n

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Subscriber vs Non-Subscriber Value<\/b><\/p>\n

This is an incredibly helpful analysis to perform, and as shown in the below analysis that Mailchimp conducted, of 6 billion emails<\/a>, it can be used to provide evidence of the value of email as a channel and if used as a business case, it can potentially deliver more budget to email.<\/p>\n

Mailchimp found:<\/p>\n