If you are an online entrepreneur and you have a website, you know that email newsletters remain a very effective tool for keeping in touch with your customers and selling products, particularly if you have special offers. Newsletters can work wonders for you, but you need to be aware of how well you are doing. Here are five of the most basic newsletter metrics you should keep in mind.
1. Your conversion rate. One of the most important metrics for newsletters is their conversion rate. This refers to the total number of Email recipients who click through the contents of a newsletter and actually end up making a purchase or responding to its call. The average conversion rate for newsletters is approximately 2.89%. If you are getting less than that, review your landing pages and make sure they are conversion-friendly.
2. Your open rate. This refers to the number of people who receive your newsletter and actually open it. Industry statistics say the average rate for newsletter opens is from 15 to 20%. If your rate is lower than this, try to find out if your subscriber list does not adequately target people to whom your product is relevant. See if you are sending too few or too many campaigns while not providing enough content. Then, examine your subject line and see if it needs to be more appealing.
3. Your delivery rates. Your delivery rate should not rate lower than 90%. If it is, then perhaps you need to check your subscriber list for dead addresses. Because people are so mobile today, the subscribers on your list may have changed their addresses; this affects the quality of your list.
4. Your spam complaints. All companies experience spam complaints. However, studies show that the average rate hovers around .05%, so the moment your spam complain rate moves close to 1%, it is time to find out if your newsletters are too long or if you are sending them too often. As a rule, sending newsletters more often than once a week can be a turn-of for subscribers. At the same time, check your opt-in process. Make sure you have a quality list that requires people to confirm their subscription by clicking on a link sent to their Email address.
5. Your unsubscribe rates. No list is ever able to keep its subscribers forever; that is one of the realities of online newsletters. However, if your unsubscribe list is in the neighbourhood of 5%, then you need to find out why. It could be that your Emails are not easily accessible on mobile devices, or it could be that the quality of your message needs to be improved.
Newsletters are a vital marketing method, and with a careful eye on metrics, a newsletter can drive sales and create a loyal customer base. Particularly for start-up enterprises and small businesses, newsletters can create a venue where people see that with your company, people get more than what they buy.