FALL IN LOVE with STATS
Valentine Day is a great occasion to look at the numbers with love.
They won’t tell everything but understanding numbers can offer valuable insights into the current state of email campaign.
If you've found yourself at a place where you’re running an email campaign and suspect that you could achieve better results or maybe you're just starting out and exploring the possibilities.
Whatever your situation is - let’s take a deeper look at the numbers. They won’t tell everything but understanding numbers can offer valuable insights into the current state of email campaign.
So, what are the key metrics you should be monitoring when running an email campaign?
1. Open rate - Typically, when sending emails in Europe, you'd want to see an open rate of at least 30%, and in many cases, it should be even higher. Some campaigns have achieved open rates of 60-70%.
- Problem - If you're below 30% you're likely either landing in spam or have a poor subject line.
- What’s the solution?
- Ensure proper technical mailbox preparation - Before starting the campaign check your SPF and DKIM - you can do it with many free softwares for example mailtester. Also take time to warm up your domain. If you want good email delivery this is a critical step that often goes ignored. What does it mean to"warm up" a new email account? "Warming up" an account means establishing its legitimacy before emailing prospects to avoid going into a spam account. We generate email traffic to achieve this.
- Be creative with subject lines - Prepare multiple subject lines to test during your campaigns. Analyze the statistics daily to determine which subject line performs best. Finding the most effective subject line often involves trial and error.
- Consider Timing: Best practices suggest that sending emails on Tuesday through Thursday tends to yield better results.
2. Response rate - Of course the higher the better - 10% is what we aim for. Working with different companies showed us that it all depends; with some we got around 25%, with some 2-5%,and with the most successful ones around 40-50% - and all of them were successful.
- Problem: Low response rates may be due to factors such as your key selling point not resonating with recipients or a lack of a clear call to action (CTA) in your email.
- What’s the solution? Take a deep look at the structure of the email - check if your key selling point and call to action are clear. It's a good practice to get fresh perspectives from colleagues by sharing your email for feedback. You may be surprised how many great ideas you may get by simply doing it.
3. Bouncing rate - when the bouncing rate is higher than 5% you should start worrying. This number shows you how many of our emails are not reaching the recipient mailbox and are rejected by the server.
- Problem. A high number of bounced emails can negatively impact your domain's reputation.
- What’s the solution? When building your email list or using an old list from your CRM, validate email addresses using tools like Usebouncer to reduce bounce rates.
4. Conversion from the emails to the meetings - No good or bad number here - sometimes five meetings may bring you zero new business and this one may change it completely.
- Problem. You get responses but they are negative - people are not interested.
- What’s the solution? At this point you should check again your KSP and maybe think deeper if you approach the right person - in the right position, in the right industry etc. Sometimes you may try to approach the Sales Director, but the real person who is making decisions and should get your email is the CEO. Sometimes you may also think about changing your CTA.
Numbers are valuable sources of information, especially in email campaigns. Small details can significantly impact your chances of reaching your prospects and making your campaign successful.
The solutions mentioned are the most common ones, but there are many more nuances to consider, like the format of your signature, the tone of your email (formal or informal), creating a buying atmosphere, and personalization, to name a few.