In a previous post we discussed various email marketing metrics to monitor. This is very important in order to make continuous improvement to your email program.
Many people ask about ‘average metrics’ with the desire to see how their campaigns are measuring up. Some industry wide statistics may be interesting and somewhat useful, but even more value comes out of measuring your campaigns with your own previous metrics. Every company is different and every list will behave in a different way. While it may be nice to know that the average open rate in the first half of 2008 was 24.86% for the transportation and travel industry, I would be very interested in knowing that MY travel company’s open rate was 22% during that period and now averages 26%.
Moral of the story here:
1. Look at some big industry averages, but pay closer attention to how your campaigns compare to your own historical metrics.
2. In addition to viewing and keeping track of metrics on a campaign or monthly basis, establish a system for keeping historical records of all the metrics you track.
Below is an example of a monthly snapshot of metrics. (Note these are arbitrary numbers for illustration)
(Click on image to enlarge)
It’s nice to see how our campaigns performed in that month, but I also want to see how they did compared to my own historical average. Comparing just to the previous month does not give us an accurate picture of how things are doing. One of the simplest methods is to create a trailing twelve month record. If you are keeping track of metrics each month, pull the average for the previous 12 months. This helps correct natural variance and provides a better picture of the direction your campaigns are going.
Below is a simplified example of how this might look for you. (Note these are arbitrary numbers for illustration)
(Click on image to enlarge)
In this example, we can see that compared to the previous 12 months, our total revenue this month was $2,266 lower. If we were looking just at the previous month we may be higher for certain metrics, but this does not paint an accurate picture of performance.
Setting up a historical benchmark guide for your email program will provide you great insight on how your campaigns are performing. In addition to looking at averages as we have focused on in this post, you can compare months, quarters etc. This can then be as simple or complex as you need and want to implement.
Questions or thoughts? Leave a comment or feel free to shoot me an email.





