Emails are one of the main ways in which a company promotes itself. Email helps the company keep in touch with the customer on a regular basis and let them know of any update or promotion offer that might be happening.
Be it an event that the brand might be hosting or the launch of a new product or a promotional sale, the companies let the customers know everything thorough emails that reach the customers at a pre-determined frequency. But the work does not end with sending an email. The company has to keep track of the progress through emails.
|Benefits of email marketing analytics||Drawbacks of email marketing analytics|
|Get to know the click through rate||Not always easy|
|Direct insight into effect||Need to set up|
|Know about the conversion rate||Might need expert|
|Know where the company stands||Expense involved|
|Creating unique tracking URL||Might get obsessed with analytics|
|Determine bounce rate||Might fail to face failure headfirst|
|Helps to hold on to reputation|
|Can list growth rate|
|Helps keep subscriber count healthy|
|Know email sharing rate|
ADVANTAGES OF EMAIL MARKETING ANALYTICS:
- Get to know the click through rate:
A company sends an email to a customer with the hope that they will open the mail and click on the designated link to know more about what is going on. But if the customer does not even click on the link, the email is of no use.
Click Through Rate is the percentage of clicks that the company is getting on the link that they send by mail. The company needs to know the Click Through Rate in order to know and understand if its strategy of email marketing is working or not.
- Direct insight into effect:
To solve a problem, a person first needs to know about the problem and its existence, only then they can think of the problem and formulate a solution. If the company sees its Click Through Rate, they will gain direct insight of the problem, if there is any. Once they see the problem, they can focus on working out a solution that would suit the problem. In this way the problem can be solved in a much easier way.
- Know about the conversion rate:
Once a person clicks on the link provided by the company through email, the next thing that they need to do is the task or the participation that the company expected from them. They might need to fill up a form or something as such.
If they complete this task, it is called conversion. Email marketing analytics also help the company look at the conversion rate and give them a direct insight into it. If the company is sending out a form to its customers in the hope that they fill it, it is important for them to know what percentage of customers actually fill out the form.
- Know where the company stands:
Once the company knows the percentage of people who are clicking on the link provided by them and the percentage of people who complete the task after clicking on the form, they would know where they stand as a business. Knowing the position that one is in is very essential for business as it is only then that they can think out working their way up from there.
- Creating unique tracking URL:
To foster email marketing analytics, the company can create a unique tracking URL for each mail they send out. This will help determine the conversion. If a potential buyer clicks on a product, the company can track the source of the click and determine if it comes from an email campaign.
- Determine bounce rate:
Sometimes emails do not get delivered because the email services filter out mails with keywords and consider them spam. Other times, the inbox of the customer might be full or the email addresses might be invalid. Determining the bounce rate will help the company remove those addresses from the list.
- Helps to hold on to reputation:
If there are too many bounces for a certain company, internet service provider might consider you to be a spammer. This is why it is important to know the bounce rate so that the company can remove specific addresses that bounce the email and save the reputation of the company.
- Can list growth rate:
List rate is the rate at which the subscriber count of the emails of the company is growing. If the company knows this rate, they will know if they have opted for the right marketing strategy or not.
- Helps keep subscriber count healthy:
If the list growth of the company is falling, it means the subscriber count is reducing. To avoid this, the company can target a new set of customers so that the subscriber count remains healthy.
DISADVANTAGES OF EMAIL MARKETING ANALYTICS:
- Not always easy:
To become a good marketer, one needs to fathom the power that email marketing analytics have. It is a huge game of numbers that can confuse people more often than not.
- Need to set up:
The company needs to set up the software that might be needed to track the email marketing analytics. This requires time and efficiency.
- Need for expert:
All the calculations and technical efficiency required for determining the email marketing analytics warrants the need of a professional person.
- Expense involved:
The expense involved in determining the email marketing analytics of a company by setting up a software and hiring a professional is a lot and cannot be afforded by every company.
- Might get obsessed with analytics:
The company might end up focusing too much on the analytics instead of thinking of how to grow the business.
- Might fail to handle failure:
Email marketing analytics show how a person is affecting its customers and how well the business is doing. If the analytics point towards negative, company might not be able to handle the frustration.
Email marketing analytics are like report cards for business. The company need to be equipped to handle a bad time and emerge successful.