CAMPAIGN METRICS – DELIVERY RATE, OPEN RATE, CLICK RATE, CTOR, CONVERSION RATE
When you’re a marketer, a beginner, or an advanced one, your campaign metrics help you track the success of your campaigns, thereby leading you to understand your key performance indicators (KPIs).
In 2022, there are over 100 metrics one can use to test the effectiveness and success.
Each metric is also dependent upon what channel of communication you’re using. Be it email marketing, digital marketing, social media, your website, content marketing, video, sales, revenue, SEO, quality, etc., each has metrics to show success and scope for improvement. These insights help a marketing team understand if it has achieved its goals in reaching new customers, awareness, engagement, sales, lead generation, and more.
The appropriate metrics vary vastly from campaign to campaign, but we’ve collated some key metrics that might help you analyze your campaigns better.
They are as follows:
- Delivery Rate
- Open Rate
- Click Rate
- Click to Open Rate/Ratio
- Conversion Rate
- Engagement Rate
- Marketing Qualified Leads
- Sales Qualified Leads
- ROI
- Lead generation
- Win-back Rate
- Revenue Rate
- DAU / WAU / MAU
- Unsubscribe Rate
- Impression share
- Bounce Rate
- Follower Increase Rate
- Domain Reputation,
Among others.
We’ll explain the first 5 to you today.
DELIVERY RATE
What is it Delivery rate?
The percentage of emails delivered divided by the number of emails sent is your delivery rate.
Why is Delivery rate important?
It helps you understand if your emails are reaching your target audience and if internet providers are blocking your IP address, which leads to higher conversion and revenue rates in the long run.
You might also want to read up on hard and soft email bounces, domain reputation, and dropping your unsubscribe rate.
OPEN RATE
What is it Open rate?
The number of people who opened an email sent by you.
Why is Open Rate important?
Is your subject line appealing enough? Does the body have enough material? Does the body NOT have enough material?
The answer to all these questions lies in your open rate.
CLICK RATE
What is it Click rate?
The percentage of people who clicked a link in your email out of the people who were delivered said email.
Why is Click rate important?
It helps you analyze how many active & inactive email users you have, thereby helping you understand if you should segment inactive users for less frequent but more essential emails.
CLICK TO OPEN RATE (CTOR)
What is it Click to Open Rate/Ratio?
It is calculated by the number of clicks divided by the number of total emails opened X 100
Why is Click to Open Rate/Ratio important?
Firstly, no, it’s not the same as your Click Rate.
Click rate tells you about the people who clicked through on your email.
Whereas the CTOR tells you about the total number of unique opens as opposed to the total number of recipients.
A good CTOR also tells you more about your content, design, body, etc., to better create content suitable for your audience.
CONVERSION RATE
What is it Conversion Rate?
The total number of conversions divided by the total number of users X 100
Why is Conversion Rate important?
Conversion rate helps you understand more about the multiple campaigns running on multiple channels for various devices. A conversion rate measures the performance of multiple advertising channels.
How to optimize these metrics for overall campaign success?
In an email campaign, tweaking and optimizing all 5 of these metrics can make for a robust revenue rate. Checking with spam checkers and testing for good body & design can help improve delivery rates. You can increase your open rate and CTOR by personalizing email subjects, alt text, and/or first lines. Make sure you personalize your products via catalog and recommendation to ensure your click rate and conversion rates are higher.
Summary:
No two metrics work the same way for one campaign.
We’ve given you an example for email campaigns, but there are a few hundred metrics that can make for good conversions and reasonable revenue for your business.
Not every metric carries the same weight, hence measuring marketing performance becomes a rather tricky task.
And WebEngage, with its omnichannel campaign manager and an analytics engine all baked into one seamless full-stack Retention OS, aims to measure the impact of advertising accurately and make it easy to plan, optimize, and measure marketing campaigns.
All the best!
