Enhancing your E-Marketing Campaigns Part III – E-Marketing KPI’s‏

15 במאי 2011

Overview

This post will mainly explain E-Marketing KPI’s, why and how to set them.

Main Topics

  • Why do I need KPI’s for E-Marketing?
  • What are E-marketing KPI's examples?
  • How to set KPI’s for my E-Campaign?

Why I need KPI’s for E-Marketing?

Companies invest a lot of funds in marketing; it’s no secret that every company expects some bang for their buck from the campaign.
Sometimes you are able to provide an accurate ROI (Return on investment), in other cases it’s may be hard to provide or calculate ROI accurately, however it can give you some measure of success of that particular activity.
In order to do so you must have a solid and clear set of KPI’s (Key Performance Indicator).
KPI’s allow you to define your strategic goals in the terms of measureable parameters to estimate the success of your current activity/campaign by it.
There is a particular set of KPI’s for your e-campaign which will allow you to understand and measure your progress.

What are E-marketing KPI's Examples?

Some of the most common E-marketing KPI’s examples and tips on how to improve your E-campaign are listed in the table below:

KPI

What’s it mean

How to measure (in %)

Email Open Rate

If you get low Open Rate it’s usually means that your subject line is unattractive.  Consider sending the same email with different subject line to the subscribers that didn’t open the previous one to increase your campaign stats.

(Mail opened / total mails sent) X 100

Click Thru Rate

If you didn’t reach the desired click rate, it means that your offering’s content wasn’t clear or attractive enough, maybe you placed your action items not in a “visible” enough location. Try changing your content or make Call for Action item more attractive.

(Unique Clicks / total Opened) X 100

Bounce-Back Emails Rate

If you see that your Bounce-Back rate is increasing from campaign to campaign, it is a good practice to check and clean your customer database.
Be sure to notice difference between soft and hard Bounce-Back.

100 X (Total bounce-back email count / Total mails sent)

Unsubscribe Rate

If your campaigns unsubscribe rate is high, it means that your offering generally is irrelevant to that campaign’s audience. The lack of attraction in your offering may also be the reason. Try to present your content in a more attractive and innovative way.
Exclude irrelevant customers if you know they won’t be interested in your current offering. You can read more about how to target your audience correctly in my previous post.

100 X (Total unsubscribe recipients  / Total recipients sent)

Subscribe Rate

If you want to increase the number of subscribers, it will be wise to appeal to the relevant audience group through social media and introduce your offering to them, nudging them to learn more about your offering by subscribing to your communications.
You may add several social media share buttons to your email; also you may add a “share to colleague” button. But keep it in proportion you do not want to draw your subscriber’s attention away from your main offering.

100 X (New Subscribers / Total Subscribers )

There are a lot more KPI’s you can set in your  campaign in more customized way, for example if your campaign is sales driven, you can track the percentage of sales  resulting from that communication, or how many potential leads you generated.

It’s very important to set a solid KPI’s list for your E-Campaign, and keep measuring the progress from campaign to campaign. It will help you understand if you are moving in the right direction, or that it is a time to review your methods.

How to set KPI’s for my E-Campaign?

Setting KPI’s for E-campaign is a task that requires, planning, and a lot of learning especially in the beginning. KPI’s results are usually very case specific and can’t be compared to results of other companies. It’s depends on and differs by your audience type, your line of business, current state of your market, your competitors, your company size, number of your customers. Consequently it’s not wise to compare yourself to other companies especially if you are not aware of every detail involved, but it is always a good practice to learn from others and see what they do and how they achieved success.

With time, when you  learn to set your KPI rates right, try to increase the required  results from campaign to campaign, and see if you successfully achieve your goals, if not, try to understand what prevents you  from succeeding and improve that fault in your campaign.
The most important thing is to learn more constantly, and try to understand your target audience better.

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