Success rates for email marketing are higher than any other channel when it refers to sales and marketing. There are, however, many marketers that view email marketing as a bit of a riddle.
Because you've accomplished some of your objectives, but others were not, your campaign didn't meet its full potential (e.g., if it gets a high email open rate, but it's conversion rates are pretty low).
Conversion rates can be determined in email marketing using this method.
Constant low email conversion rates mean you must fine-tune your email marketing campaign to perform better.
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How many email subscribers convert into paying customers?
Email campaigns must have an aim. You may use this to motivate your audience to take action by persuading them to download a helpful tool, purchase a product, or register for a service. Conversions are the subscribers who react positively and do your intended actions.
Your email conversion rate is the percentage of subscribers or users that follow through with your email campaign by doing the needed action.
Easy Formula to Determine your Email Campaign's Conversion Rate
The email marketing conversion rate is equal to the number of conversions divided by the number of emails sent.
Email conversion rates must be calculated correctly, as they vary depending on the number of emails that have been delivered. An estimated 50% of all emails are neither delivered nor undeliverable.
Another example: If out of the 20 emails you sent, 4 bounce, the total number of emails delivered is 16. If 8 out of the 16 emails you sent convert into customers, your conversion rate is 8.
50% of the conversion rate is obtained by entering all this data into the calculation.
Email marketing ROI is a crucial calculation, as it helps you assess the return on investment. The ultimate response about whether your email campaign was effective or not is the conversion rate.
What's a good conversion rate?
There is no fixed answer to this issue because elements like your target audience, company culture, and industry practices affect your email marketing in various ways. Email type is one of these criteria.
Additionally, some of those elements include:
- Email copy,
- Your proposal
An excellent solution to this topic is: If the conversion rate is adequate to reach your goals, it is a great conversion rate. However, we should emphasize that the primary focus of your future email campaigns should be increasing your email response rates.
You can find out how many of your visitors to your website become customers by looking at the conversion rates of other companies in your industry.
What should you do?
Keep an eye on various metrics to obtain the best outcomes from your email marketing. One such indicator is your email conversion rate. It's now time for you to learn what it is, how and when to identify it, and how to estimate it. Now go ahead and do another audit of your previous marketing efforts and practices.
A good email marketing conversion rate is around 1.5 percent.
In short, no one has come up with a solution other than the one that's better than what you already have.
Before we go
Have you heard this expression before: "Only you should be your competition"? Of course, it's clichéd to say, "As cliché as that sounds, it's true." Suppose you want good email marketing conversion rates. In that case, you must pay attention to your data to find areas in which you are running low and then utilize various optimization approaches to improve your conversion rate.
Of course, you can use industry standards to evaluate your email conversion rates. But as a result, many significant factors are left out of the analysis. It follows, then, that only conversion rates that are higher than your existing ones are excellent.