Calculating email marketing conversion rate is crucial for your email campaign ROI. If you don’t measure the success of your email marketing, you can’t optimize it.
Every email marketing campaign that you design should have a clear purpose. It’s not necessary that every email that you send will lead to a sale, but you should have goals and conversions to achieve and measure.
What is Email Conversion Rate?
Email marketing conversion rate is the percentage of subscribers who positively responds to the CTA given in the email and completes the goal.
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The ultimate conversion goals can be different for different businesses.
Some of the examples of email conversion rates include:
- Newsletter sign-ups
- Lead form fill-ups.
- Product sales.
- Reviews or ratings for your products or services.
- Event registrations.
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Email Marketing Conversion Rate Formula With Example
Let us understand the calculation of email conversion rate with the help of an example.
Suppose you send a total of 1000 emails to your subscribers. Out of them, around 100 emails get bounced. Now, the total number of emails that successfully got delivered is 900. Out of those 900 successfully sent emails, suppose 200 people completed the conversion goal. So your email marketing conversion rate would be 22.22%.
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Here is how you can calculate the email marketing calculation rate.
Total Number of Emails Sent = 1000
Total Number of Delivered Emails = 100
Recipients Who Completed The Conversion Goal = 200
So, the formula to calculate the conversion rate is
Email Marketing Conversion Rate = (Total number of conversions/total number of emails delivered) X 100
= (200/900) X 100
= 22.22%
What Is The Standard Email Conversion Rate?
Surprisingly there is no legit answer to the question of what should be the ideal conversion rate. In order to achieve higher email conversion rates, you have to analyze your data and search for the loopholes. Once you figure out the areas which need improvement, you can strategize your next move to boost your conversion rates.
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As per research by MailChimp, the conversion rate, open rate, and click-through rates for different email types are mentioned below.
| Email Type | Conversion Rate | Open Rate | Click-through Rate |
| Newsletter | 1% | 23.4% | 17.8% |
| Order Follow-up | 5% | 46.1% | 16.7% |
| Inactive Customers | 2.6% | 38.9% | 19.5% |
| Abandoned Cart | 5% | 46.6% | 28.7% |
| Member Follow-up | 2.7% | 39.2% | 22.4% |
How Can You Improve Your Email Conversion Rates?
Here are a few things that you can do to improve your email conversion rates.
Increase Email Deliverability
You can use a double-opt-in to communicate with your subscribed audience with authority and legitimacy. Consider setting up DKIM (Domain Keys Identified Emails), DMARK (Domain-Based Message Authentication, Reporting, and Conformance), and lastly SPF (Sender Policy Framework) records, in order to improve the reputation and authenticity of your sender.
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Besides, the poor health of your subscriber’s list can lead to lower email conversion rates. Research shows that your conversions will start degrading as your list becomes bigger. The reason behind this could be invalid email addresses. It is highly recommended to check and clean your subscriber’s list now and then to reduce the bounce rates.
Optimize Email Open Rates
Here are some tips to improve email open rates:
- Segment your recipient’s list.
- Avoid spam filters.
- Master the art of timing.
- Include a personal touch in your emails. Let your emails be so lively that they can speak for themselves.
- Curate relevant and creative pieces of content.
- Be direct with your message. Just don’t beat around the bush.
- Design mobile-friendly and responsive emails.
- Use simple language and be communicative.
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Increase Email Clickthrough Rates
Some of the best ways to increase clickthrough rates are:
- Draft catchy and clear subject lines. The subject line of your emails is the first thing your recipients will read. If your subject line is not compelling enough, the subscribers won’t even bother to open the emails. You can use an email subject line tester to engage more email open rates and maximize your success.
- Include the name of the subscriber to add a personal touch.
- Keep your CTAs on the top- left-hand side corner of your template.
- Include the link of the landing page naturally in between the text.
- Add images and GIFs to make your emails more catchy and communicative.
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Make Your Emails Responsive
The total number of smartphone users is increasing dramatically across the world. Hence, it is vital to select a mobile responsive email template. Because if your emails aren’t mobile responsive and your subscribers have to zoom in to read the mails, they will certainly won’t take the pain to read the mail and will simply delete your email right away.
Bonus Tips For Optimizing Email Conversion Rates
- You can start by doing the simplest things like adding the name of the recipient in the subject line, and also in the main email body. Consider segmenting your audience in groups based on age, gender, and location. Studying analytics in-depth will help you strategize your next big move.
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- Once the buyer has completed your desired conversion goal, it is now your chance to provide him with excellent after-sale services and help him with any troubles. This will help your buyer to build trust in your brand and become a loyal customer. Loyal customers are undoubtedly the brand advocates that let you enjoy the perks of “word of mouth”.
- Seek the help of visuals to gain and retain the attention of the recipients. You can use images, GIFs, and short videos to attract and hold your reader’s attention without diverting from the topic.
- Focus on creating a sense of urgency and scarcity. By doing so, you can compel the readers to take actions quickly. You can use some elements like a running timer so that your readers know that they have to grab the opportunity. You can use this tactic when your ultimate goal is a product sale.
Conclusion
Optimizing your email conversion rates are important to increase the overall ROI of your email marketing campaigns. Make sure to check the email conversion rates by using the formula suggested in this article and take steps to optimize your campaigns for better conversions. Happy email marketing!
