We recently spoke about why newsletters are still important to SMEs. But, we didn’t go into too much detail about data or metrics. Measuring the success of a newsletter is something that is always up for debate. Many marketers focus on the open rate, which corresponds to how many people opened your email. However, as an SME, we don’t think open rates are the be-all and end-all. In fact, there are a few other newsletter metrics we think are more worthwhile investing time in and looking into in more detail.
Click-through rate (CTR)
Click-through rates, or CTRs, indicate how many times links in your email were uniquely clicked in comparison to how many people opened your email. For example, if 100 people opened your email and you received 5 unique clicks your CTR would be 5%. This is great to monitor because you can see how those who have opened your email have interacted with your content without “non-openers” skewing the data. Click rates are important to monitor especially if you are sending out emails with links directing customers to buy products, read certain articles or look at promotions.
Whilst click-through rates are important, we believe nothing beats an engagement rate. Engagement based metrics are more relevant because they take into consideration more actions than just clicks. For example, if you were sending out an email with a video, you’d probably also consider people watching the video to be an important metric to monitor. This is where engagement rates come in. Engagement rates take a lot into consideration like clicks, video views, amount of time spent reading the email and even how far people scroll down.
A lot of marketers see the unsubscribe rate as a negative metric. However that is most certainly not the case. Of course, unsubscribe rates do indicate that people are no longer interested in the content you’re sending them. But they can also help you understand the content of your emails better. Perhaps your unsubscribe rate for your monthly newsletters have gone down. This is probably because users are finding your content more valuable and still want to stay in the loop. Correlate your unsubscribe rate with your content and you’re sure to see some connections.
We hope you learnt something interesting about newsletter metrics that are more important than open rates. We also hope we’ve inspired you to dig into your newsletter data even more to find the true key to your digital marketing success. If you have any questions about marketing newsletters or any other digital marketing projects then please get in touch with us. We’d love to hear from you. Until next time – happy marketing!