In Episode 60 of the podcast, I talked about how to use key performance indicators and metrics as levers in your business. One of the things I cautioned about was spending a lot of time tracking vanity metrics.
If you are serious about email marketing, and it is a proven sales channel for your business, there are some key metrics that you should monitor (but not until you have a mature email marketing process).
In this episode, I go over 7 key metrics, how to calculate them, and why they are important. Hopefully, this episode will help you if you are doing a lot of email marketing or trying to grow into email marketing as a channel that moves the needle for your business.
02:52 Key metrics you should measure in your email marketing
04:07 Different types of email
06:44 Knowing what the outcome of your email is
09:02 7 metrics you should monitor in your email program
09:28 Monitoring your subscriber count
10:25 Growth equation
11:46 Monitoring the unsubscribe rate
12:06 Number of emails sent in a month divided by the number of people who unsubscribed
14:07 List segmentation
14:46 Bounce rate
16:57 What soft and hard bounces are
17:00 Bounce rate formula
18:09 Warm list versus cold list
19:32 The inbox placement test
21:23 The open rate
21:48 Number of unique opens divided by the total numbers of mail sent
24:50 Tracking engagement
26:45 The click-through rate
26:49 Click-through rate formula
28:22 Conversion rate
05:31 “Being an entrepreneur means you want to do 99 things really well.”
30:37 “The importance of email to your organization goes back to your goals.”
26:23 “Track it but don’t pay to much attention.”
Thanks for listening and checking out the show notes, any feedback, comments, or questions, send me an email at david@techsmartboss.com
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