In email marketing, key performance indicators (KPIs) measure an email campaign’s effectiveness and help identify areas for improvement.
⚡️Standard email KPIs #
- Open rate: the percentage of people who opened your email. A good open rate benchmark is between 17% and 28%.
- Unsubscribe rate: the number of people who have opted out of receiving your emails. Ideally, this should be between 0% and 0.5%.
- Conversion rate: the number of people who clicked on a link and performed a specific action. Falling between 2% and 5% is a good measure to aim for across all industries.
- Click-through rate: the number of people clicking on the links in your emails. An optimal CTR lies between 1% and 5%.
- List-growth rate: the rate at which your email list grows. The average list growth rate is around 2.5% per month.
- Bounce rate: the percentage of emails returned to the sender instead of delivered to the recipient. A good benchmark to strive for is below 0.5%.
⚡️What can these KPIs be used for? #
- Compare your email performance over time
- Compare your email performance against industry criteria
- Pinpoint which email campaigns work with your subscribers
- Gather insight on how to make your email campaign more engaging
⚡️Setting your KPI benchmarks #
When establishing your KPI benchmarks, ensure that:
- They are achievable in your set time frame
- They follow your campaign objectives
- They are specific and measurable
- You are only tracking the most relevant KPIs
⚡️Analyse KPIs #
To collect your KPI data, you can either use formulas to calculate it yourself or use an email marketing provider — such as Klaviyo — to automatically track your KPI metrics. Analysing your KPI performance will help you gauge the effectiveness of your email campaigns.
⚡️Reinvent and experiment #
Once you have your KPI data, compare it to your benchmarks and learn where your strengths and weaknesses lie to become the best that you can be.
Sometimes, experimenting with your email campaign can give you the best results and teach you more about your audience.
If you’d like to explore more ways to perfect your email campaign, contact us today.
