Studying your email campaign metrics is a very useful undertaking, from open rates to CTRs and conversation rates. But how much can these three email metrics really tell you?
These traditional metrics can tell you the bare facts about what your campaign achieves, from how successful your subject line may be, to how engaging your email content is, to how successful your campaigns are in recovering otherwise lost revenue. It can help teach you for future campaigns.
But what they don't tell you the true extent of customer engagement, which remains hidden behind these blockbuster metrics.
Not to put a dampener on them; these traditional metrics play a crucial part in any campaign analysis. But they shouldn't be the only benchmark.
How new email metrics are becoming more important
Real-time data has changed the playing field completely. And with it, a few new metrics have popped up too. These metrics can shed light on the link between customer engagement and conversion.
For example, if a beer stand sells 1,000 pints at one event and then sells 1,200 pints at another gig, that is a 20% increase in sales! Incredible increase in sales... isn’t it?
But what if the second gig had a crowd twice as large as the first? This perspective allows you to take a step back and ask, “How come we only got a 20% increase in sales from a crowd that was double the size?”
6 metrics you haven’t used before
With Triggered Messaging (an ExactTarget HubExchange partner) you can look at post-click metrics. You can see what happens between the time someone clicks on your campaign and converts or browses. You can overlay these post-click metrics with your email marketing metrics to make better decisions. These metrics include:
Total browsed value. The total value of items customers browsed on your site after clicking on your email.
Total carted value. The total value of items customers put in their cart, after clicking from your campaign.
Email click abandonment rate. The percentage of people who click from the email, but don’t go beyond the first click.
Email cart abandonment rate. The percentage of people who cart something from an email and abandon their cart
Average carted value. The value of items that every customer carted, on average
Average browsed value. The value of items that every customer browsed, on average
Why do you need to know these numbers?
All these metrics aren't just about the end result in isolation (i.e., conversion rate). Rather, they analyse how conversions relate to the activity between emails sent and conversion.
Knowing these numbers gives you an idea of what the customer is doing once they are on your campaign, throughout the journey that starts with your email.
With Triggered Messaging, you can know what the real reason for the conversion rate increases are. And with that knowledge, you can act appropriately, either by opening the champagne cork or getting to work on improving that conversion rate.