Email marketing conversion rate refers to the percentage of subscribers who complete the desired action or conversion goal. In many instances, this pertains to whether or not they have bought a product and/or paid for a service (purchase-related). The conversion rate is the metric that helps to evaluate the efficiency and gauge the impact of a particular email campaign.
What is a good email marketing conversion rate?
A good conversion rate is a metric used for analyzing conversion rates for your email marketing depending on the effectiveness of the content.
How to Calculate Conversion Rate for Email Marketing
There is a simple formula to calculate the conversion rate for your email marketing campaign:
Email Marketing Conversion Rate =
Number of Conversions / Number of Delivered Emails ×100
REMEMBER: Delivered emails do not include those that bounced so make sure to use the correct number when calculating your email marketing conversion rates.
How To Improve Your Conversion Rate
1. Improve email deliverability
- Regularly remove inactive addresses from your mailing list.
- Communicate only with the owners of valid email addresses.
- Always check emails for spam.
2. Increase the number of opens and clicks
- Make sure both subject line and preheader text are relevant to the content.
- Include a clear call-to-action.
- Find out the right time and correct email sending frequency for delivering emails to your target audience.
3. Provide personalized experience
- Always add the user’s name to the subject line and email body.
- Use gathered data on subscriber’s online behavior and action when sending trigger emails and drip email campaigns.
- Implement a more advanced behavioral segmentation.
4. Communicate value offer
- Highlight your unique selling proposition in your email content.
- Prioritize your customers’ points of view when creating your main message.
- Make it clear that the recipient will benefit from taking action after reading your email.
5. No jargons, please!
Jargons and buzzwords shouldn’t cover up your main message – wooing your subscribers is not your end goal. Instead of pestering your subscribers in the first go, use openers to tell a story, catch attention, or satisfy readers’ expectations. You will gain their trust by focusing on clarity and authenticity.
6. Send content that matches their stage in the funnel
Acknowledging the customer journey allows you to send emails based on pre-defined triggers, including:
- Subscription date of the specific person
- Previous purchases or conversions
- Past open and click-through rates
Use these triggers to select the right type of email to send. Common messages include:
- Welcome emails, after someone signs up for your email list
- Re-engagement emails, after a visitor has left your site and hasn’t revisited in a while
- Post-purchase emails, after a customer has already made a payment for a product or service
- Abandonment cart emails, after a prospect leaves an item in their cart without completing the purchase process
7. A/B Testing is a MUST
Marketing Glossary defines A/B testing as “testing out two variations of the same template or landing page to know which or what is causing more conversions. You divide your traffic between the two variations and analyze which one is giving your better output. If you are not satisfied, you can go ahead and create more variations, and keep testing.”
Every single detail of your email marketing campaign can be tested or analyzed to get a clear picture of what can boost conversion rates better. A/B testing will help you know what works and what doesn’t.
Now go forth confidently to wow prospects, to slay competitors, and to make your brand more irresistible with loyal customers with your newfound email marketing knowledge. Sign up with Waves for FREE so you can evaluate where you’re at with your current email marketing strategy and let us help you connect with your target audience successfully.