There’s no doubt about it, email is an exciting channel for any B2B marketer.
Because there’s so much that can be done with email. Personalisation, automation, segmentation, the list goes on.
However, implementing innovative strategies and campaigns is pointless unless you are actually tracking the results.
And by results, we don’t just mean opens and clicks. To fully understand the success of your campaigns, you need to delve a little deeper and pinpoint the metrics that really matter to your business.
In this blog post, we will look at some of the most insightful metrics B2B email marketers should be tracking.
Setting clear KPIs
Before we begin to look at metrics, let’s discuss KPIs.
Because if you aren’t clear on exactly what you want to achieve, then you cannot be clear on the relevant metrics to track.
As a consequence, you may find yourself drowning in data and analytics.
KPIs shouldn’t simply be vanity metrics such as opens and clicks. Instead, they should delve into the performance of your email marketing in a way that links directly back to business goals and strategic focus areas.
By identifying and measuring the correct KPIs, you can focus time and resource in the areas of email marketing which will truly impact the business.
SMART goals
If you’re feeling a little lost when it comes to setting KPIs, then we suggest beginning with SMART goals.
When we refer to SMART goals, we don’t just mean being smart with your B2B email marketing strategy.
SMART goals are a method that B2B email marketers can utilise to choose and plan their goals to ensure they are executed in a focused manner. Giving marketers the best chance for success.
SMART goals are created intentionally by including 5 essential elements:
- Specific
- Measurable
- Achievable
- Relevant
- Time-bound
Here’s an example to get you started:
Grow newsletter database by 10% within the next six months so that the business can communicate with and nurture engaged potential customers.
7 metrics B2B email marketers should be tracking
Once you’ve taken the time to consider the B2B email marketing goals that will genuinely make a difference to your business, it’s time to track them.
Whether you are focused on email performance, insight, or engagement, there is a variety of metrics that can be tracked by any email marketer.
Here are seven that we regularly find most useful:
1. Inbox placement
If your emails aren’t even landing in the inbox, there’s no point in looking at other areas of email performance.
So let’s begin with email placement.
This metric identifies how successful your email delivery performance is. Whether your emails are landing in the inbox, or the dreaded junk folder.
2. Conversion rate
Opens and clicks are good indications of engagement with an email. But are recipients taking the actions you truly want?
You can set your own definition for what a conversion is, based on the goals of your email campaigns. For instance filling out a form, purchasing, or making an enquiry.
Conversion rate tracking helps to identify if recipients are taking these meaningful actions, or disengaging after the open or click.
3. Unsubscribe rate
A small amount of unsubscribes is not unusual for any business. In fact, it can help you to keep your list targeted with engaged recipients.
However, it’s important to monitor your unsubscribe rate for any peaks, which could suggest that your emails aren’t useful to your recipients, or potentially that your data isn’t healthy.
4. Email client
Emails can render differently on different clients, so understanding the client that your recipients are opening your emails on should be key to your email design and build strategy.
You can also build on this metric by identifying the devices that recipients are using, such as desktop or mobile, to support your design process.
5. Lead source
It’s essential to understand email’s role in the conversion process.
For many businesses, lead generation is an essential KPI. One which all marketing channels are expected to feed into.
By tracking lead source, you can identify where your leads and opportunities are coming from. And the impact that email is having on these results.
6. Heatmapping
Heatmapping allows B2B email marketers to understand how their recipients are engaging with their emails.
They can identify areas of the email most viewed, clicked, and how far the recipient has scrolled.
All of which offer useful insight when it comes to email design, copy, and calls to action.
7. Target market engagement
Whilst not a specific metric, tracking engagement with your target market ensures that your email marketing is connecting with the right audience.
Key to measuring target market engagement is segmenting your audience and creating target market groups to monitor and track. This could be based on demographics, behaviour, or purchase data.
How an agency can help with analytics
A B2B email marketing agency will be highly adept when it comes to tracking results and metrics.
After all, they do it on a daily basis for their clients.
This means you will gain access to their industry-leading platforms, tools, and of course, expertise.
They are able to support your business from the very start. Helping you to identify your KPIs, the correct metrics to track these results, and doing the hard work when it comes to reporting and analysis.
However, one of the key benefits of working with a good B2B email marketing agency, such as 1973 Ltd, is that as well as tracking your metrics we can also offer invaluable insight into what your results mean.
Success means giving you the insights you need to make informed decisions. Any good agency will focus on providing digestible, actionable insights that you can implement to improve your results.
Next steps
If tracking the right metrics or gaining actionable insights from your results feels like a mystery, then we can help.
We’d love to discuss your email objectives and tell you a little more about how we support businesses like yours. So, why not get in touch with our friendly team for a chat?
