Sometimes marketing is a numbers game. While creating value and building relationships are some of the most important things about email campaigns, you also need to know if what you are doing is working for you from a quantitative perspective as well. Have you tried to put down in numbers what each email is worth to you in terms of the value of each email address and the click reach of your emails? While these may come across seeming like fairly advanced metrics, they are in fact easy to calculate and give you a much better understanding of the bigger picture. They are however, often overlooked.
Let’s take a look at these two specific metrics:
Average Email Address Value
This is specifically about determining the value of each email address on your list over a specific period of time – monthly, quarterly or annually for instance. All you need to do is divide the total income for the said period by the average number of users on your email subscription list. The result is the average value of each email address during that time. This will let you know if your email campaigns are actually working and if you have enough subscribers on your list, allowing you room to ascertain your next steps.
This is different to the click through rate or CTR, which you are probably already familiar with. While CTR allows you to measure the success of a single email, Click Reach is measured taking into account a series of emails over a period of time. Let’s say you calculate your Click Reach for the last quarter of 2014. Ideally, you need to take each month into account, dividing the number of unique clicks by the average email sending quantity. Since you are calculating this for 3 months, you will get 3 separate figures that will let you know if your clicks are increasing or decreasing over that period of time. Emails are generally designed to persuade recipients to visit an external element such as your site via a link in the email, Click Rate becomes a good measure to understand your ability drive your audience to that action.
These apparently advanced metrics were not so difficult to calculate after all, were they? At the end of the day, you need to know that what you are doing is working for you. For sure, go ahead and create outstanding content, but also learn