7 Email Marketing KPIs You Should be Tracking in 2023
In this article, we will discuss KPIs in email marketing, as well as provide you with important email KPIs to track for a successful marketing campaign.
What is a KPI in Email Marketing?
An email KPI is a metric used to measure the performance of an email marketing campaign. It helps businesses understand how well their emails are engaging their audience and achieving their desired goals.
Email KPI Example:
A company's open rate gives it lots of information about the effectiveness of their email blasts. By using the open rate KPI, a company can adjust their tactics to maximize the number of people who open and read their emails.
Important KPIs for Email Campaigns
1. Open Rate
The percentage of recipients who opened your email indicates how engaging your email subject line and preview text are, and can help you optimize these elements to increase engagement.
Formula: (Number of emails opened / Number of emails delivered) x 100
2. Click-Through Rate (CTR)
The percentage of recipients who clicked on a link within your email measures the effectiveness of your email content and calls-to-action, and can help you optimize your messaging to drive more clicks.
Formula: (Number of clicks / Number of emails delivered) x 100
3. Conversion Rate
The percentage of recipients who completed a desired action after clicking through your email is the ultimate goal of email marketing, indicating how effective your email is at driving revenue or other key business metrics.
Formula: (Number of conversions / Number of clicks) x 100
4. Bounce Rate
The percentage of emails that were not delivered to the recipient's inbox can indicate issues with your email list quality or email delivery practices, and should be minimized to ensure maximum reach.
Formula: (Number of bounced emails / Number of emails sent) x 100
5. Unsubscribe Rate
The percentage of recipients who unsubscribed from your email list indicates how well your email content and frequency align with your audience's interests and expectations, and can help you adjust your email strategy accordingly.
Formula: (Number of unsubscribes / Number of emails delivered) x 100
6. Revenue per Email Sent
The amount of revenue generated per email sent measures the ROI of your email campaigns and helps you allocate resources to the most effective campaigns.
Formula: Total Revenue / Number of Emails Sent
7. Forward Rate
The percentage of recipients who forward your email to someone else indicates how engaging and shareable your email content is, and can help you optimize your messaging to increase social sharing and referral traffic.
Formula: (Number of forwards / Number of emails delivered) x 100
How to Track Email KPIs
Email automation services provide detailed reports and analytics to track email KPIs, making it easy for businesses to measure the effectiveness of their email campaigns.
Another option is Lido, which allows you to import your raw data and create personalized dashboards that track the KPIs that are important to you, not only KPIs that these other platforms want to show you. Get started here.
Email marketing success hinges on understanding and optimizing email kpis (key performance indicators) such as open rate, click-through rate, conversion rate, and more. Dashboard tools like lido.app can help you easily track kpis from multiple platforms in a single location.