What Is An Email Marketing Conversion Rate?
Every marketing campaign is accompanied by the objective of obtaining conversions that report a benefit greater than the investment cost in that campaign, that is, the return on investment (ROI).
Therefore, the conversion rate (in this case in email marketing) is one of the most important email marketing statistics that we must take into account when we carry out a digital marketing campaign. This rate deals with the number of users who have taken the action you had planned. In this article I will discuss details about increasing the email marketing open rate because you have a valid email address checker to send as many emails as you can. But the real question is list recipients are checking your email or not.
Some examples of these actions in email marketing campaigns can be these:
● Complete a subscription form for a course, webinar or other newsletter.
● Make a purchase or encourage the customer to finalize one.
● Download some kind of document.
How To Measure Conversion Rate In Email Marketing
We can calculate the conversion rate of an email marketing campaign with this simple formula:
Let’s say you send an email campaign to 1,000 subscribers with the goal of getting them to use a discount. This discount is used by 15 users. Therefore, applying the formula above it would be like this:
(15/1000) x 100 = 1.5%
In this case, you would get a conversion rate that would be 1.5%. Easy right?
What Actions Can Be Counted As A Conversion?
We can consider conversion various actions such as:
● CTR (Click Through Rate): there are times when the click through rate achieved in the email marketing campaign is what marks the conversion. That is, when the links in the email receive clicks, like a CTA.
● Fill In A Form: it is one of the most typical actions to consider as a conversion, when readers follow the steps to fill in a form with extra data.
● Free Trials: This is a free trial of a product or service. For example, Spotify can send an email with a link to a free trial of its Premium service for one month. The clicks generated on that link are what will mark the conversion rate.
● Downloads: another type of conversion can be the downloads that are achieved through those emails, if that is the main objective of the sender, such as a document, a product, a form, an image, a video, a file, etc. .
● Purchases: in the case of ecommerce newsletters, the normal thing to do would be to establish the conversion rate that revolves around real conversions, that is, purchases from users of the database.
● Subscriptions: if, for example, the objective of your email is aimed at increasing blog subscriptions, it is understood that the conversion rate of said campaign will be the percentage of users who give their consent to receive the next blog posts. Subscriptions can be a newsletter, a mailing service or any other service such as webinars
How Is It Different From The Open Rate?
In order not to make a mess, we are going to clarify the main differences between the conversion rate and the email opening rate.
We have already seen that the conversion is the one that measures the number of people who perform the action for which a certain email has been created, that is, that customers are doing what we want them to do.
Let’s look at the other type of rate calculation for emailing:
Open Rate: This reflects the percentage of emails that have been opened based on the number of emails that have been sent. But, of course, we must bear in mind that it is not the same for a client to only open an email to interact with its elements, because there may be times that he opens it but does not even read it.
Open rate = (unique opens / messages sent) x 100
Obviously, the conversion rate formula is linked to the open rate, because a customer cannot convert without having opened the email. And, the open rate will always be higher (or at best equal to) than the conversion rate. A customer can open an email but not perform the action that we want them to perform.
What Rate Is Suitable And How To Verify If An Email List Or Address Is Valid?
You are probably wondering what conversion rate can be considered normal in an ecommerce. These, depending on the industry globally, can vary from 1% to almost 5% . It is best if you have a 2.5% conversion rate, but aim for at least 4% as a goal (unless it is not feasible for your industry).
If you prefer to focus only on the market, you will see that it varies a bit. According to the study on ecommerce conversion carried out by Flat 101 , the rate is between 1% and 3%. 1.11% is calculated to be the average conversion percentage in online commerce. Also, keep in mind that the conversion rate varies depending on the sector you are in. In this table you can get an idea of the common conversion of emails for each activity. And it not only depends on the sector but also on the age of your ecommerce. The more recent your online business is, the more it will cost you to convert. In fact, the ecommerce businesses that have been around the longest convert much more.
What Is The Average Conversion Rate?
When you are studying the conversion rate, the first question that will come to your mind will be what is the average rate of the industry in which we work. This will always vary, as each campaign differs from the others, each audience is different, and each marketer sees different conversions.
But there are studies that offer information on conversion rates in email marketing in different sectors that can serve as a guide to get an idea of whether your campaigns are working or need improvement. Mailchimp and Smart Insights offer data that can serve as a reference for your future campaigns. In this table we give you a summary of the average rate by industry for email opens and clicks.
Techniques To Optimize Email Validity And Address Verification
Like any marketing campaign, there are several tactics that we can apply to optimize our objective, in this case the conversion rate within our emails.
Let’s see some strategies to improve email marketing conversions.
1. Segment shipments
2. Create an eye-catching affair
4. An attractive design
5. Take care of the copy
6. The CTA
7. Use success stories to attract users
8. Increase the frequency of shipments
9. Emailing as a long-term relationship
10. An effective landing page
Email Marketing Conversions Conclusion
In this article I tried my best to provide you with a complete solution about how to improve your email marketing conversion rate. Email marketing is still essential for your company’s digital marketing strategy, and will be for many years to come.
Hopefully these techniques give you more email clicks, conversions, and income with your future email marketing campaigns.