Email has over 4.1 billion human users. This is more than half the population on Planet Earth. It's definitely more than the largest social media networks of the world.
Unlike every other communication media out there, no one really owns 'email'. And because of this, sending an email to anyone in the world is free (well, almost!). It's the cheapest marketing channel out there. If one aspires to grow their business online, then email marketing is indeed a fascinating platform.
However, there are various platforms where you can connect with your targeted audience like social media handles, live chats, etc. But Email is one of the oldest communication methods but still, it is the king of all times when it comes to usage. In addition to this, email marketing has an ROI of $38 for every $1 spent. This simply means email marketing must be there in a campaign if one wants to increase his business.
Email marketing is still one of the popular and effective marketing tools, winning against social media handles, SEO and affiliate marketing. Why is so two-decades-old strategies is still getting the limelight? Why email marketing is still in vogue? Despite the social media blooming, people nonetheless prefer email for marketing or campaigns. The average opening rate of an average email depends on you because you own the connections. You don’t have to worry about algorithm changes hampering your reach.
That is why a good email marketing build-up is important than ever. The impactful execution of email marketing is crucial to growing more. This blog will guide you on every aspect of email marketing and the average open rate for email marketing. You will also get to know how to increase your email open rate with some effective strategies and tools. You will also learn the good open rates for emails.
Table of Contents
- What is Email Open Rate?
- What is a good email marketing open rate in 2021?
- How to Increase your Open Rate
- How does Open Rate affect other metrics
- Track your Email Marketing Metrics and Optimize
A digital marketing strategy must comprise email marketing as one of its athletic pillars. Not knowing the leverage of email marketing is as foolish as anything can be. Email marketing is the most profitable strategy or tool, generating an average return on investment of $42 for every $1spent, DMA reports 2019 says. It’s okay to get confused or failed but without trying you cannot defeat your challenges.
If you’re worried about where to start email marketing them that’s normal. No worries! It is always better to learn email marketing than to start a campaign for your business. The success of a campaign is relying on how you well crafted your email.
What is Email Open Rate
Email Open Rate helps in knowing the success of your email campaign. Email Open Rate is the percentage of subscribers who opens a specific mail out of your total number of subscribers. Knowing your average email opening rate will facilitate you to determine how successful was your email marketing strategy. Here email open rate is important then no other metric should determine strategy. One has to think about multiple metrics and the goals that you have for your email marketing strategy.
You also need to look at the improvements of your average email open rates over time. Here you should not judge your email strategy by industry specification. This will let you know how often people open your email and the links you provided in it. In this way, you’ll also determine the types of content that truly attracts your audience or subscribers.
What is a Good Open Rate
Your goals behind your email campaign must be cleared before building it up because this will tell you the success of your email campaign. How many people have engaged with your email is the total of your creative elements and tools you used.
If we look at the industry benchmark across the board, we can estimate the performance of our email campaign. The idol email campaign must comprise an email open rate between 12-25%, the average click-through rate must be between 2-5% and the average click-to-open rate between 10-22%. These statistics is the idol parameter but your success of email campaign depends on the area of industry. For instance, if your campaign has beauty or fashion elements then its expected rate would be high as compared to the automobile or IT industry.
How to Increase Your Open Rate
One of the most crucial elements of successful email marketing is the sender name and the subject line in getting them opened and read. An estimate says 45% of people are interested in reading your mail by reading your name and 33% on what subject it may concern.
- Add Sender’s Name: Adding your name in the mail will make a huge difference instead of using the company's name. When you send bulk marketing email, your email “From” name (the display name, also known as the email Sender name) tells your recipients who sent them the message. It is just as important as your subject line and can be the determining factor as to whether your email is opened, or ignored.
- Add a Subject Line: A well-crafted email subject line is the vitality of your mail. Spend as much time as you could in deciding the headline or email subject line of your mail as you spend with the content. One thing to be noticed here is to keep the email subject line shorter, especially for mobile users. Below are few examples for email subject line:
- 10 Pieces to add to your wardrobe now
- Don’t miss these great deals
- Thanks for joining us. Joe.
- Big News: New stores opening near you.
- Use Recipient’s Name: Another reason for opening an email is when the subject line is addressed to the recipient. This is because the subject lines are usually with a recipient’s first name. For instance, it can lift open rates by as much as 20%.
- Use Song or Movie Name: It is always good to be more creative in terms of email marketing. Of course, if you are feeling super creative, you can take it one step further. Use movie or song names in your subject line as estimates say it increases the average open rate of email to 26%.
- Add Video: Try to add a video within your email, you can also include the word "video" in your subject line. As it is tested and including the word video increased open rates by 6%.
- Don’t Use These Words: One thing that needs to be noticed here is emails are mostly reported as spam included the words "confirm", "features" and "upgrade". People are less likely to open emails that include a question mark or a hashtag.
- Don’t use Emoji: The last tip, never to use emoji in your subject line as it creates negative sentiments sometimes and does not increase the likelihood of an email being opened.
How does Open Rate affect other metrics?
There are around 8 metrics that are affected by the open rate of email marketing. Let us see one by one how it affects these metrics below:-
- Click-through Rate:
The percentage of email recipients who clicked on one or more links contained in a given email is called CTR. Click-through rate is essential for marketers as it gives insight into how many people have opened your mail.
- Conversion Rate:
The percentage of email recipients who clicked on a link within an email and completed the desired action, such as filling out a lead generation form or purchasing a product. If your goal is to generate leads, conversion rates are incredibly important as they show you how successful your newsletters are at actually generating prospects and leads.
Formula: (Number of people who completed the desired action ÷ Number of total emails delivered)x100
- Bounce Rate:
The percentage of your total emails sent that could not be successfully delivered to the recipient's inbox. While a bounce rate doesn't a direct link to your goals, you should still look at it to make sure there are no deep issues with your emails. Having too many hard bounces can make your company look like a spammer in the eyes of an ISP.
Formula: (Total number of bounced emails ÷ Number of emails sent)x100
- List Growth Rate:
The rate at which your email list is growing is called list growth rate. There's a natural decay of your email marketing list, and it expires by about 22.5% every year which means that it's more important than ever to pay attention to growing your subscriber list and keeping it at a healthy size.
Formula: ([(Number of new subscribers) minus (Number of unsubscribes + email/spam complaints)] ÷ Total number of email addresses on your list])x100
- Email Sharing Rate:
The percentage of email recipients who clicked on a “share this” button to post email content to a social network, or who clicked on a “forward to a friend” button is known as the email sharing rate. Keep a careful eye on your sharing rates to discover which types of articles and offers tend to get shared the most and use that insight when you plan email campaigns in the future.
Formula: (Number of clicks on a share and/or forward button ÷ Number of total delivered emails)x100
- Overall ROI:
The overall return on investment for your email campaigns. In other words, total revenue is divided by the total spending is known as overall ROI. These are the types of metrics that will help you show your boss and your sales team how valuable email marketing is a channel that drives real, tangible results.
Formula: [($ in additional sales made minus $ invested in the campaign) ÷ $ invested in the campaign]x100
- Unsubscribe Rate:
The percentage of email recipients who unsubscribe from your send list after opening a given email is known as unsubscribe rate. As with open rates, the unsubscribe rate isn’t a reliable picture of the health of your email list. Your unsubscribe rate doesn't directly relate to your goals, checking it monthly helps calculate your overall list growth rate. That’s why do keep an eye on it every once in a while.
Track your Email Marketing Metrics and Optimize
Every company has their own set of email marketing or campaign based on its agenda. But still, you need to determine your tools to achieve your goals of an email campaign.
- The number of New Leads Generated: You perhaps want to focus on generating new leads instead of focusing on your existing subscriber. It means content that requires the viewer to fill out a lead capture form in order to access it.
- Unengaged Subscribers: As you keep an eye on your existing subscriber, you also need to acknowledge your engaged subscribers as well and consider moving them from your desired list. Because overall, it will hamper the deliverability of your email campaign.
- Subscriber Growth List Rate: You want to grow the top of your funnel then attracting more visitors to your site, signing up more blog subscribers, getting more people to use your free tools, etc. Our goal will probably be growing your subscriber list.
- Lead-to-Consumer Conversion Rate: If you want to focus more toward the middle or bottom of your marketing funnel, and convert more of your existing leads into customers. You're sending will likely provide content more closely related to your business and your product or service. If this is your goal, you should be tracking changes in your lead-to-customer conversion rate.
MuxEmail automatically tracks all the email marketing metrics you need and displays it on your broadcast report dashboard.
Email is one of the oldest forms of online communication and marketing is the backbone of any campaign. Email marketing comprises elements or tools that will help you in growing your business or strategy. All you need to do is take into consideration of the crucial points that will not accelerate your campaign.
Email Marketing within your marketing efforts to promote a business’s products and services, as well as to increase your customer loyalty. When you want to grow your brand or sell your stuff, email marketing is one of the most popular and effective tools around for marketing campaigns.
Email marketing is a powerful strategy of sales & revenue for your business, and has a greater reach and return on investment than any other channel available to marketers today. Follow the steps outlined in this guide for a quick start to email marketing and campaign success.