Email remains to be one of the most popular marketing channels, helping marketers to reach a wide audience, convert leads and re-engage existing customers. Last year saw 36% of respondents say they had experienced a slight increase in their email marketing effectiveness , but this dropped to just 28% in 2019 .
To calculate email conversion rate , divide the number of recipients who took the action you were looking for by the number of emails delivered to recipients. Multiply the result by 100 to express the outcome as a percentage .
Email marketing is up to 40 times more effective than social media, according to a study done by McKinsey & Company. The same study also shows that the buying process happens 3 times faster than in social media. Statistically, there are indicators that show the growing potential of email marketing .
Tuesday , Wednesday , and Thursday have traditionally been favorite days to send email campaigns, as email marketers seek to avoid the Monday angst and Friday’s itchy-feet. MailChimp confirms that Tuesday and Thursday are the two most popular days to send email newsletters.
Here’s the key points for you to take away and use the next time you send an email to increase email open rates : Use 6 to 10 words in your subject lines to get the best open rate . Send your email campaigns during the work day and after lunch. Personalize subject lines with the reader’s name. Use a recognizable sender name.
The benchmark for bounces is less than 2% . Anything above a 2% bounce rate for your email campaign is worthy of your attention. If you’re seeing bounce rates over 5% , or even as high as 10% or greater, this suggests a significant problem that you will want to resolve.
Age of list – One reason for low open rates could be the list you are sending to is old/outdated. It may be that the contacts on your list have since closed down those email addresses and moved on to newer ones. If this is the case, there isn’t much you can do because those contacts are no longer able to be reached.
A conversion rate records the percentage of users who have completed a desired action. Conversion rates are calculated by taking the total number of users who ‘convert’ (for example, by clicking on an advertisement), dividing it by the overall size of the audience and converting that figure into a percentage.
Email Marketing Open, Click-Through, and Conversion Rates by Email Type
|Email Type||Open Rate||Conversion Rate|
E – mail is still a significantly more effective way to acquire customers than social media. Investments in these new channels are absolutely necessary for marketers to make increasingly sophisticated use of social networks and other channels to engage with consumers and convert interest to sales.
The reason is clear: For ten years in a row, email generates the highest ROI for marketers . For every $1 spent, email marketing generates $38 in ROI and gives marketers the broadest reach of all the channels available to them.
You don’t always have to sell your products or services to monetize email marketing . Instead, you can be an affiliate for other businesses’ products or services. As an affiliate, you get commissions from a business that you generate for the company.