How do you set and track email marketing goals and KPIs?

First stop on the road to email marketing mastery? Setting clear, sharp goals! You gotta know your destination before charting your course, right? Next up, track those emails like a hawk scanning the sky for prey. Now, for Gmail users, Streak CRM is a fantastic option, a cozy cardigan for your workflow. But for me, an Outlook enthusiast, CRM/Clikup are the perfect tools. And hey, even the humble Outlook flag can be a lifesaver, a little reminder to follow up. But the real secret ingredient? A/B testing. Test everything! Subject lines, email content, calls to action, send times. Discover what makes your audience tick, then amplify what works. E-mail marketing is a journey, an ever-evolving adventure.

As you are establishing email marketing goals, you should create a baseline. If you just starting out, then the goal likely shouldn't be "increase you email open rate by 10%", because there's no baseline or benchmark. To define your goal, it may be helpful to dive into research to understand industry standard for other businesses similar to yours in the market. Doing this will help you understand feasibility of the the goals you're setting.

Effective email marketing starts with a well-defined plan. Establish SMART goals (specific, measurable, achievable, relevant, and time-bound) before clicking "send." Whether your goal is to generate 50 new leads or raise open rates by 10%, be sure these targets are in line with your larger business objectives. With this method, emails become tactical instruments that increase income, client loyalty, and brand recognition. Every message turns into a calculated move in the direction of real success.

To set and track email marketing goals and KPIs: Define specific goals such as increasing open rates, click-through rates, conversions, or revenue generated from email campaigns. Set measurable KPIs aligned with your goals, such as open rates, click-through rates, conversion rates, revenue per email, or subscriber growth. Utilize email marketing software to track metrics like open rates, click-through rates, conversions, and revenue. Regularly analyze and compare performance metrics against your goals and benchmarks. Adjust email marketing strategies and tactics based on performance insights to optimize results over time.

Set Clear Objectives: Determine the purpose of your email marketing. Common goals include increasing sales, improving customer engagement, boosting website traffic, growing your subscriber list, or promoting new products/services. Align with Business Goals: Make sure your email marketing goals align with your broader business or marketing objectives. For example, if the company’s focus is customer retention, your email goal might be to increase engagement through personalized content.

When choosing your KPIs you want to align them with your goals. If you want to improve your engagement, then CTR and open rate will be important to you. Is you have monetization goals, then subscriber rates should be important to you!

I would suggest starting small. The best way to grow is to buy using a channel that relates to your target audience. Business newsletters would be better on LinkedIn and Instagram.

Key Metrics to Monitor: 1. Open Rate: Percentage of recipients who open your email. 2. Click-Through Rate (CTR): Percentage of recipients clicking links within your email. 3. Conversion Rate: Percentage of recipients who take a desired action after clicking a link. 4. Bounce Rate: Percentage of emails that couldn't be delivered. 5. Unsubscribe Rate: Percentage of recipients who opt out after receiving your email. 6. Forwarding/Sharing Rate: Percentage of recipients who forward or share your email. 7. Engagement Over Time: Track how engagement metrics evolve. 8. Regular Analysis: Review your metrics weekly or monthly to spot trends and identify areas for improvement.

You should definitely consider email newsletters as a value-driven business. The more you give value the more you will get back in return.