Email Analytics: The 8 Email Marketing Metrics & KPIs You Should Be Tracking (2022)

There's a lot to say when it comes to how to do email marketing well.

Email Analytics: The 8 Email Marketing Metrics & KPIs You Should Be Tracking (1)

We could talk for days about the most critical components of an optimized email, common email marketing mistakesyou might be making, and examples of brilliant email marketingthat will inspire you.

But at the end of the day, it doesn't matter how optimized your emails are if you can't see the results of your efforts -- not to mention measure whether email is helping you hit your goals.

So before sending your next email, pause for a few minutes and ask yourself: "What is the goal of my email marketing?"

Is it to grow a subscriber database? Generate more leads? To convert more existing leads into customers?

Whatever you decide your goal is (and you can have more than one), the next thing you need to do is figure out which metrics you'll need to track in order to determine how you're progressing toward that goal.

Let's take a look at the metrics you should be paying attention to in your email marketing efforts. We'll start with the metricsevery email marketer should be tracking, and then we'll take a look at how to tie certain metrics to your specific goals.

Email Marketing Metrics

  1. Clickthrough Rate
  2. Conversion Rate
  3. Bounce Rate
  4. List Growth Rate
  5. Email Sharing/Forwarding Rate
  6. Overall ROI
  7. Open Rate
  8. Unsubscribe Rate
(Video) The TOP Email Marketing Metrics...YOU NEED TO BE TRACKING

1. Clickthrough Rate

  • What It Is:The percentage of email recipientswho clicked on one or more links contained in a given email.
  • How to Calculate It: (Total clicks OR unique clicks ÷ Number of delivered emails) * 100
  • Example:500 total clicks ÷ 10,000 delivered emails * 100 = 5% clickthrough rate

(Using either total clicks or unique clicks in the calculation above works, as long as you use the same approach consistently.)

Clickthrough rate (CTR) is likely the first answer you'll get when you ask an email marketer what metrics they track.It's what I like to call the "day-to-day" email marketing metric, because it lets you easily calculate performance for every individual email you send. From there, you can track how your CTR changes over time.

CTR is also frequently used for determining the results of A/B tests, as these tests are often designed with the intention of finding new ways to get more clicks in your emails.

How valuable is a clickthrough rate?

Clickthrough rate is a very important metric for all email marketers to be tracking, as it gives you direct insight into how many people on your list are engaging with your content and interested in learning more about your brand or your offer. Read this blog post to learn what a "good" clickthrough rate is, according to industry benchmarks.

(HubSpot customers: Click here to learn how to easily set up click tracking in your emailsusing HubSpot.)

2. Conversion Rate

  • What It Is:The percentage of email recipients who clicked on a link within an email and completed a desired action, such as filling out a lead generation form or purchasing a product.
  • How to Calculate It: (Number of peoplewho completed the desired action÷ Number of total emails delivered) * 100
  • Example:400 people who completed the desired action÷ 10,000 total email delivered * 100 =4% conversion rate

After an email recipient has clicked through on your email, the next goal is typically to get them to convert on your offer -- in other words, to take the action that your email has asked them to take. Soif you're sending an email to offer your audience the chance to download, say, a free ebook, you'd consider anyone who actually downloads that ebook to be a conversion.

Because your definition of a conversion is directly tied to the call-to-action in your email, and your call-to-action should be directly tied to the overall goal of your email marketing, conversion rate is one of the most important metrics for determining the extent to which you're achieving your goals. (We'll discuss more specific goal-related metrics later.)

In order to measure conversion rate on your emails, you'll need to integrateyour email platform and your web analytics. You can do this bycreating unique tracking URLs for your email links that identify the source of the click as coming from a specific email campaign.

How valuable is your conversion rate?

If your goal is to generate leads, conversion rates are incredibly important as they show you how successful your newsletters are at actually generating prospects and leads.

Free Template

Free Email Metrics Tracker

Use this template to document, track, and analyze your email KPIs.

(Video) Email marketing metrics KPI

3. Bounce Rate

  • What It Is:The percentage of your total emails sent that could not be successfully delivered to the recipient's inbox.
  • How to Calculate It:(Total number of bounced emails÷ Number of emails sent) * 100
  • Example:75 bounced emails ÷ 10,000 total emails sent * 100 = 0.75% bounce rate

There are two kinds of bounces to track: “hard” bounces and “soft” bounces.

Soft bounces are the result of a temporary problem with a valid email address, such as a full inbox or a problem with the recipient’s server. The recipient’s server may hold these emails for delivery once the problem clears up, or you may try re-sending your email message to soft bounces.

Hard bounces are the result of an invalid, closed, or non-existent email address, and these emails will never be successfully delivered. You should immediately remove hard bounce addresses from your email list, because internet service providers (ISPs) use bounce rates as one of the key factors to determine an email sender’s reputation.

Email Analytics: The 8 Email Marketing Metrics & KPIs You Should Be Tracking (3)

How valuable is a bounce rate?

While a bounce rate doesn't directly link to your goals, you should still look at it to make sure there are no deep issues with your emails. Having too many hard bounces can make your company look like a spammer in the eyes of an ISP. Read this blog post to learn more about the difference between hard and soft bounces.

4. List Growth Rate

  • What It Is:The rate at which your email list is growing.
  • How to Calculate It: ([(Number of new subscribers) minus (Number of unsubscribes + email/spamcomplaints)]÷ Total number of email addresses on your list]) * 100
  • Example:(500 new subscribers - 100 unsubscribes and email/spam complaints) ÷10,000 email addresses on the list * 100 = 4% list growth rate

Aside from the call-to-action metrics (CTR, conversion rates), you'll also want to be keeping tabs on your list growth and loss. Of course, you should be aiming to grow your list in order to extend your reach, expand your audience, and position yourself as an industry thought leader.

How valuable is your list growth rate?

Believe it or not, there's a natural decay of your email marketing list, and it expires by about 22.5% every year -- which means that it's more important than ever to pay attention to growing your subscriber list and keeping it at a healthy size.

5. Email Sharing/Forwarding Rate

  • What It Is:The percentage of email recipients who clicked on a “share this” button to post email content to a social network, and/or who clicked on a “forward to a friend” button.
  • How to Calculate It:(Number ofclicks on a share and/or forward button ÷ Number of total delivered emails) * 100
  • Example:100 clicks on a share/forward button ÷10,000 total delivered emails * 100 = 1% email sharing/forwarding rate

The rate at which your email recipients forward or share your email with others may not seem all that significant, but it's arguably one of the most important metrics you should be tracking.

Why? Because this is how you generatenew contacts. The folks on your email list are already in your database. So while conversion is still a primary focus, this doesn't help you attractnew leads. Encourage your readers to pass along your email to a friend or colleague if they found the content useful, and start tracking how many new people you can add to your database this way. Read this blog post for tips on getting people to forward your emails.

Why Email Sharing and Forwarding Rates Are Valuable

Keep a careful eye onyour sharing rates to discover which types of articles and offers tend to get shared the most, and use that insightwhen you plan email campaigns in the future.

6. Overall ROI

  • What It Is: The overall return on investment for your email campaigns. In other words, total revenue divided by total spend.
  • How to Calculate It:[($ in additional sales made minus $ invested in the campaign) ÷ $ invested in the campaign] * 100
  • Example: ($1,000 in additional sales - $100 invested in the campaign / $100 invested in the campaign) * 100 = a 900% return on investment for the campaign

This is the most basic formula to calculate ROI — but there are several ways to approach calculating the ROI of your email campaigns. Depending on your type of business, you might prefer a different one.)

As with every marketing channel, you should be able to determine the overall ROI of your email marketing. If you haven't yet, set up an SLA system whereby you assign different values to various types of leads based on their likelihood to generate revenue for your company.

(Video) Email Marketing: 6 Key Email Metrics

How valuable is ROI?

How many of each of these types of leads did you generate via email marketing? How does this translate to potential revenue? Actual revenue? These are the types of metrics that will help you show your boss and your sales team how valuable email marketing is as a channel that drives real, tangible results.

7. Open Rate

What It Is: The percentage ofemail recipients who open a given email.

Most email marketers are still bent over backwards trying to optimize their subject lines for higher open rates. While this can have a positive impact -- and more opens are a great thing -- they really should be focused on optimizing their clickthrough rates, instead.

The fact of the matter is that open rate is actually a very misleading metric for a few reasons. Most importantly,an email is only counted as "opened" if the recipient also receives the images embedded in that message. And a large percentage of your email users likely have image-blocking enabled on their email client. This means that even if they open the email, they won’t be included in your open rate, making it an inaccurate and unreliable metric for marketers, as it underreports on your true numbers.

How valuable is your email open rate?

You can get some value out of open rate as a metric if you use it as a comparative metric. For instance, if you compare the open rates of this week's email send to last week's email send (both to the same lists) it might give you some insight since the variables are somewhat controlled.

8. Unsubscribe Rate

What It Is: The percentage of email recipients unsubscribe from your send list after opening a given email.

As with open rate, the unsubscribe rate isn’t a reliable picture of the health of your email list. Many subscribers who are tired of receiving email messages from your brand won’t bother to go through the formal unsubscribe process. They’ll just stop opening, reading, and clicking on your email messages.

That's why it's much more effective to measure subscriber engagement by clickthrough rates and conversion rates. From there, you can keep an eye out on unengaged subscribers so you can consider removing them at some point, like we went over earlier.

How valuable is an unsubscribe rate?

Although your unsubscribe rate doesn't directly relate to your goals, checking it monthly is helpful for calculating your overall list growth rate. So, do keep an eye on it every once in a while.

How to Know Which Email Metrics to Track, Based on Your Goals

The goal of your email marketing may be very different from the goals of another company like yours, and may even vary within your own company over time. But again, it's crucial that you determine exactly what it is you're looking to achieve with your email marketing before you begin (or continue) to send and measure your emails.

Here's how you can align your specific goal with key metrics.

Subscriber List Growth Rate

If your focus is on growing the top of your funnel -- attracting more visitors to your site, signing up more blog subscribers, getting more people to use your free tools, that kind of thing -- your goal will probably be growing your subscriber list. Your emails will likely contain calls-to-action such as "Subscribe to Our Blog" or "Join Our Weekly Email List." So of course, the most important metric you should be tracking for this goal is the growth rate of your subscriber list. (Read this blog post for more detailed tips on how to grow your subscriber list.)

Email Analytics: The 8 Email Marketing Metrics & KPIs You Should Be Tracking (4)

(Video) Email Marketing Metrics Explained

Unengaged Subscribers

Just as you want to track and grow your subscribers, it's also important to keep an eye on your unengaged subscribers -- and consider removing them from your list altogether. Why? Because sending emails to people who aren't engaged with your emails (called "graymail") can hurt the deliverability of your email overall. Email clientsmight get tipped off by low engagement rates and deliver email from known-graymail senders straight to recipients' "junk" folders, meaning your emails will technically get sentanddelivered, but won't necessarily be seen.

Here at HubSpot, wedeliberatelyunsubscribed 250,000 people from HubSpot's Marketing Blog, which included people who had opted in to receive emails about new content we published on the blog. This subscriber purge brought our total subscriber count from 550,000 down to 300,000. Read this blog post to learn more about why and how we purged our subscriber list, and why you might consider doing the same.

Numberof New (or Total) Leads Generated

Maybe instead of focusing on subscribers, you'd like to work on growing lead generation. If this is the case, you should be sending emails that offer lead generation content -- in other words, content that requires the viewer to fill out a lead capture form in order to access it.

If the goal of your email marketing is lead gen,you should be tracking how many leads you're capturing every day, and every month.You can decide to focus on all leads generated, or only new ones added to your database, depending on your priorities.

Lead-to-Customer Conversion Rate

Finally, let's say you want to focus more toward the middle/bottom of your marketing funnel, and convert more of your existing leads into customers. If this is your goal, the emails you're sending will likely provide content more closely related to your business and your product or service. Your calls-to-action may include "Get a demo," "Watch a Video of Our Product in Action," or "Start a Free Trial."If this is your goal, you should be tracking changes in your lead-to-customer conversion rate.

As obvious as this all seems, you'd be surprised how many email marketers determine their goals and then don't bother to track their progress against them. Make sure that you're able to track how closely you're trending toward your goal at any point during the month, and that you're looking carefully at any changes in these metrics month over month.

Navigating Email Marketing Metrics

The bottom line? Be smart about which metrics you're tracking, and make sure you're able to effectively measure your individual email performance, the health of your email list, and your progress toward your overarching goals. As long as you're able to determine each of those, you're on the right track for more effective email marketing.

Editor's Note: This post was originally published in March 2014and has been updated for accuracy and comprehensiveness.

Topics: Email Marketing Metrics Behavioral Targeting Email Marketing Tools

FAQs

How do you track email marketing performance? ›

Email marketing effectiveness: 7 ways to measure without relying on opens and click-throughs
  1. Check the bounce rate on your email campaign landing pages. ...
  2. Measure website traffic, too. ...
  3. Look at the email conversion rate. ...
  4. Track your email list growth rate. ...
  5. Check the forward/share rate for each email campaign.

What are email marketing analytics? ›

Email analytics is the method of tracking how your subscribers interact with your emails by tracking different metrics that deal with email delivery, engagement, and conversions. Such analytics helps email marketers to draw valuable insights and optimize and strategize email campaigns for better performance.

What are the most important metrics to track in marketing? ›

The most crucial metrics to track for your paid advertising:
  • Keyword rankings metrics. ...
  • Engagement metrics. ...
  • Conversions & clicks. ...
  • Open rate. ...
  • Click-through rate. ...
  • Productivity. ...
  • Return on Investment (ROI) ...
  • Customer satisfaction.
1 Feb 2022

What is the most important metric in email marketing? ›

Email marketing metric #1: Clickthrough rate

The clickthrough rate (CTR) is the most significant metric that email marketers can track right now. This is the number of people who clicked on a link, call-to-action (CTA) button, ad, or piece of content within your email divided by the number of emails sent.

How do you answer how do you use metrics to inform your strategy? ›

How to Use Metrics to Improve Performance
  1. List what you're currently measuring. Close ratios? ...
  2. Find a single additional area that you can measure. Could you use better data from your website? ...
  3. Track and review your measurements. ...
  4. Involve your team. ...
  5. Repeat the process.

How can I improve my email metrics? ›

9 Key Email Marketing Metrics & How to Optimize for Them
  1. Track Sources to Understand Digital Marketing Campaign KPIs. ...
  2. Track Open Rate as an Email Engagement Metric. ...
  3. Always Look to Reduce Email Bounce Rate as You Set Your KPIs. ...
  4. Email Click-Through Rate is a Metric That Proves Performance. ...
  5. Look at Conversion Rates.

How do you Analyse email data? ›

One way to do this is to analyze your email marketing data.
...
Behavior Analysis
  1. How many people open your emails?
  2. How many people click your links?
  3. Which link gets the most clicks?
  4. What time do people open your emails?
  5. How many unsubscribes do you get on average per email sent?
10 Dec 2020

What email tracking tools do you know use? ›

Comparison of Top Email Tracking Software
Tool NameEmail ServiceInstallation or Access
HubSpotGmail & Outlook, Other email clientsSubscription based.
MailTrackGmailBrowser extension. Chrome, Firefox, Opera, & Microsoft Edge.
YeswareGmail & OutlookGoogle Chrome or Mozilla Firefox extension
BoomerangGmailSubscription based.
1 more row
24 Sept 2022

How do you measure engagement in email? ›

Here are the formulas you'll need to know: Open rate: Open rate = (# emails opened ÷ # delivered emails) x 100. Click-through rate: CTR – (total measured clicks ÷ delivered emails) x 100. Click-to-Open rate: CTOR = (# of unique clicks ÷ # of unique opens) x 100.

What are the top three metrics you would track to measure the success of a marketing campaign and why? ›

Ultimately, it's all about traffic, reach, and conversions. And to achieve all three, you need a wealth of engaging content campaigns. Many businesses look to track a marketing campaign's success off the leads they get. Success is often down to a low number of leads, but with a large amount of conversions.

How do you analyze marketing metrics? ›

Steps to Take when Analyzing Marketing Data
  1. Begin with focused questions that you know you can answer with the data that you have on hand.
  2. Choose metrics that you analyze on a consistent basis over time.
  3. Create a table or spreadsheet where you can track those metrics.
  4. Tie those metrics back to your business story.

What key metrics do you use to determine the success of your marketing activity and or website changes? ›

10 Marketing KPIs You Should Be Tracking
  • Marketing revenue attribution.
  • Customer acquisition cost.
  • Customer lifetime value.
  • Digital marketing ROI.
  • Traffic-to-lead ratio (new contact rate)
  • Lead-to-customer ratio.
  • Landing page conversion rates.
  • Organic traffic and top 5 entry pages.
3 Mar 2022

What is your KPI answer? ›

What is a KPI? KPI stands for key performance indicator, a quantifiable measure of performance over time for a specific objective. KPIs provide targets for teams to shoot for, milestones to gauge progress, and insights that help people across the organization make better decisions.

What are the 4 main KPIs? ›

Anyway, the four KPIs that always come out of these workshops are:
  • Customer Satisfaction,
  • Internal Process Quality,
  • Employee Satisfaction, and.
  • Financial Performance Index.
25 Sept 2013

What are 5 KPIs? ›

In general, five of the most commonly used KPIs include: Revenue growth. Revenue per client. Profit margin.

What is most important for email analytics? ›

Domain open rate. This rate is extremely important to ensure the success of your deliverability, which makes it one of the most important email marketing stats. This rate allows you to see what percentage of people are opening your emails on a specific email provider.

Which of the following is most important metric to track email? ›

Conversion Rate

It is the metric that matters most when looking at email marketing success. Compare the conversion rate to the overall open rate of your email campaign.

Which KPI can tell you about the performance of the referral email designed to build your subscriber list? ›

Email conversion rate is one of the most important key performance indicators (KPIs) for email marketing. It measures how successful your email marketing campaigns are in terms of generating leads and sales.

What are examples of metrics? ›

Examples of Metrics

Key financial statement metrics include sales, earnings before interest and tax (EBIT), net income, earnings per share, margins, efficiency ratios, liquidity ratios, leverage ratios, and rates of return. Each of these metrics provides a different insight into the operational efficiency of a company.

What are KPIs and metrics? ›

KPIs measure performance based on key business goals while metrics measure performance or progress for specific business activities. KPIs are strategic while metrics are often operational or tactical.

What is email tracking and explain its methods? ›

Email tracking is the process of tracking sent emails and using that data to inform business decisions. Most email tracking tools capture data on open rates, times, and locations, as well as click-throughs on links and attachments.

What is an email metric? ›

What are email metrics? Email metrics (or KPIs) are how we measure the success of a campaign. Having an email marketing tool is the best way to calculate and keep track of these scores, and is an invaluable tool for effective marketing campaigns.

What is the average open rate for email marketing? ›

The average email open rate for all industries we analyzed is 21.33%. Open rates are one of the best ways to tell whether your email strategy is working. This number shows what percentage of your audience opens the emails you send them.

Which tools do you use to report on the success of your email campaigns? ›

4 Tools to Help You Track Your Email Marketing Metrics
  • Bloom. Before you can actually track your email marketing metrics, you need to build an email list. ...
  • MailChimp. ...
  • Benchmark Email. ...
  • Google Analytics. ...
  • Open Rate. ...
  • Click-Through Rate. ...
  • Clicks per Link. ...
  • Conversion Rate.
3 Jan 2017

How do you measure engagement in email? ›

Here are the formulas you'll need to know: Open rate: Open rate = (# emails opened ÷ # delivered emails) x 100. Click-through rate: CTR – (total measured clicks ÷ delivered emails) x 100. Click-to-Open rate: CTOR = (# of unique clicks ÷ # of unique opens) x 100.

Which KPI can tell you about the performance of the referral email designed to build your subscriber list? ›

Email conversion rate is one of the most important key performance indicators (KPIs) for email marketing. It measures how successful your email marketing campaigns are in terms of generating leads and sales.

What is email tracking and explain its methods? ›

Email tracking is the process of tracking sent emails and using that data to inform business decisions. Most email tracking tools capture data on open rates, times, and locations, as well as click-throughs on links and attachments.

What email tracking tools do you know use? ›

Comparison of Top Email Tracking Software
Tool NameEmail ServiceInstallation or Access
HubSpotGmail & Outlook, Other email clientsSubscription based.
MailTrackGmailBrowser extension. Chrome, Firefox, Opera, & Microsoft Edge.
YeswareGmail & OutlookGoogle Chrome or Mozilla Firefox extension
BoomerangGmailSubscription based.
1 more row
24 Sept 2022

How can I improve my email metrics? ›

9 Key Email Marketing Metrics & How to Optimize for Them
  1. Track Sources to Understand Digital Marketing Campaign KPIs. ...
  2. Track Open Rate as an Email Engagement Metric. ...
  3. Always Look to Reduce Email Bounce Rate as You Set Your KPIs. ...
  4. Email Click-Through Rate is a Metric That Proves Performance. ...
  5. Look at Conversion Rates.

How do you Analyse email data? ›

One way to do this is to analyze your email marketing data.
...
Behavior Analysis
  1. How many people open your emails?
  2. How many people click your links?
  3. Which link gets the most clicks?
  4. What time do people open your emails?
  5. How many unsubscribes do you get on average per email sent?
10 Dec 2020

What is good email engagement rate? ›

As a rule of thumb you should look for 10 to 15% CTOR, so can compare emails against this benchmark. Finally, from this benchmark, I thought it would be useful to share the data on list churn as indicated by hard bounce rates and spam complaint rates.

How do you measure the result of content marketing? ›

Here are some things to consider:
  1. Revenue: This goal is obvious. ...
  2. Loyalty/retention: Customer relationships are crucial when it comes to content marketing. ...
  3. Leads: In marketing, leads define a real contact between the company and potential customers. ...
  4. Number of visitors. ...
  5. Page Views. ...
  6. Bounce rate. ...
  7. Time spent on page.
19 Jun 2018

What are the key metrics you look at when searching for influencers? ›

Check whether the influencer has been mentioning the names of your competitors in their posts. They might have mentioned the brands because they like using them. Check the metrics (comments and likes) on the brand mention posts. If the brands they mention are aligned with your brand, the influencer could be a good fit.

What are content marketing metrics? ›

Content marketing metrics are standards of measurement that show you how well your content creation is doing. From metrics to determine how well you're creating brand awareness to how many new leads you're adding to your sales funnel, there are a variety of numbers to track.

What is an email marketing strategy? ›

An email marketing strategy is a set of procedures that a marketer identifies and follows to achieve desired marketing goals with email advertising. This plan of action gives the businesses a direct channel of communication with prospects and customers for brand promotion.

What is an email metric? ›

What are email metrics? Email metrics (or KPIs) are how we measure the success of a campaign. Having an email marketing tool is the best way to calculate and keep track of these scores, and is an invaluable tool for effective marketing campaigns.

Why are KPIs metrics but not all metrics are KPIs? ›

KPIs measure performance based on key business goals while metrics measure performance or progress for specific business activities. KPIs are strategic while metrics are often operational or tactical.

Videos

1. 6 Important Outbound Email Campaign Metrics To Track
(Revenue Accelerator Inc)
2. 5 Metrics & KPIs You Should Be Tracking for Business Resilience
(Business Resilience DECODED)
3. Let’s talk marketing analytics! Which web, email, and social metrics should you track?
(Channel Marketing Academy)
4. The Most Important KPIs for Measuring Your Email Marketing Success
(health and beauty)
5. 5 Fundamental Sales KPIs you Need to Track
(Azamba)
6. 9 Top eCommerce Metrics and KPIs to Track in Google Analytics
(MonsterInsights)

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