Drive results with email: 10 must-track email metrics

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Greetings and a warm welcome, wonderful people!

Today, let's talk about email metrics.

Picture this: you're running an online store, hustling to make sales and keep customers happy. But how do you know if your email marketing efforts are hitting the mark? After plenty of trial and error, I've picked up some tips that have made a world of difference in my ecommerce email game.

Through running experiments for different e-commerce brands, I've stumbled upon some pretty neat tricks. From crafting catchy subject lines to nailing the perfect send time, each test has been a lesson in itself.

And now, I'm here to share these simple strategies with you. So, if you're ready to cut through the clutter and start seeing real results, then stick around.

Here are 10 email marketing metrics every Ecommerce store should track.

Now, coming back to the topic:

1. Open Rate: Who's Checking You Out?

Let's start with the open rate – the first glimpse into your email's effectiveness. It tells you how many recipients are actually opening your emails, giving you valuable insights into the effectiveness of your subject lines and previews.

Importance: A high open rate indicates that your subject lines and preview texts are resonating with your audience, enticing them to engage with your content. On the flip side, a low open rate may signal that your subject lines are falling flat or that your emails are getting lost in spam.

Tracking in Klaviyo: To track your open rate in Klaviyo, navigate to Benchmark > Email Campaigns/Flows.

Addressing Low Rates: Experiment with different subject lines, personalise your emails, or consider adjusting your sending times to see what resonates best with your audience.

2. Click-Through Rate (CTR): Who's Taking Action?

You want people to do more than just open your emails; you want them to take action. The click-through rate measures the percentage of recipients who clicked on a link or CTA within your email, indicating their engagement and interest in your content.

Importance: A high CTR suggests that your email content is compelling and effectively driving recipients to take action. On the other hand, a low CTR may indicate that your content isn't resonating with your audience or that your CTAs aren't sufficiently compelling.

Tracking in Klaviyo: Keep track of your email campaign CTR within Klaviyo's analytics dashboard.

Addressing Low Rates: Optimise your email content to make it more engaging and relevant to your audience, and ensure that your CTAs are clear, prominent, and compelling.

3. Conversion Rate: Are You Closing Deals?

Sending emails is great, but are they leading to sales? The conversion rate measures the percentage of recipients who take a desired action, such as making a purchase, after clicking a link within your email.

Importance: A high conversion rate indicates that your emails are persuading recipients to take action, while a low rate may signal issues with your messaging or the conversion process.

Tracking in Klaviyo: Analyse your email campaign conversion rates within Klaviyo's analytics dashboard.

Addressing Low Rates: Evaluate your content, optimise your calls-to-action (CTAs), and streamline the conversion process to drive more conversions.

4. Bounce Rate: Are You Missing the Mark?

Sending out emails is great, but if they're not reaching your subscribers, what's the point? The bounce rate measures the percentage of emails that were not successfully delivered to recipients' inboxes, either due to invalid email addresses, technical issues, or spam filters.

Importance: A high bounce rate can negatively impact your email deliverability and sender reputation, potentially leading to future emails being filtered out as spam. It's important to keep your bounce rate low to ensure that your emails are reaching your intended audience.

Tracking in Klaviyo: Monitor your email campaign bounce rates within Klaviyo's analytics dashboard.

Addressing High Rates: Regularly clean up your email list to remove invalid or inactive email addresses, and ensure that your email sending practices comply with best practices and anti-spam regulations.

5. Unsubscribe Rate: Are You Losing Interest?

You want your subscribers to stick around, not hit the unsubscribe button. The unsubscribe rate measures the percentage of recipients who opt out of receiving further emails from your mailing list after receiving a particular email.

Importance: A high unsubscribe rate can indicate that your email content is not resonating with your audience or that you're sending emails too frequently. It's important to monitor your unsubscribe rate to ensure that you're providing value to your subscribers and maintaining a healthy mailing list.

Tracking in Klaviyo: Keep tabs on your email campaign unsubscribe rates within Klaviyo's analytics dashboard.

Addressing High Rates: Segment your email list to deliver more targeted and relevant content to different audience segments, and ensure that you're providing value to your subscribers with each email you send.

6. Revenue per Subscriber: What's Each Subscriber Worth?

Every subscriber is valuable, but some may be more valuable than others. The revenue per subscriber metric measures the average amount of revenue generated per subscriber over a specified period of time, providing insight into the overall value of your email list.

Importance: Understanding the revenue per subscriber can help you identify your most valuable subscribers and tailor your marketing efforts to maximise their value. It can also help you identify opportunities to increase revenue by targeting high-value segments of your email list.

Tracking in Klaviyo:

• Go to Benchmark > Email Campaigns/Flows

• Similarly, check for flows’ open rate.

Addressing Low Values: Offer personalised promotions or incentives to increase revenue per subscriber, and focus on delivering value to your subscribers to encourage repeat purchases and engagement.

7. List Growth Rate: Is Your Audience Growing?

Your email list is like a garden – it needs constant tending to thrive. The list growth rate measures the rate at which your email list is growing over time, providing insight into the effectiveness of your lead generation efforts.

Importance: A healthy list growth rate indicates that your lead generation efforts are effective and that your audience is engaged with your brand. It's important to monitor your list growth rate to ensure that you're continuously expanding your reach and attracting new subscribers to your email list.

Tracking in Klaviyo: Check out your list growth report within Klaviyo's analytics dashboard.

• To access your list growth report, head to your Lists & Segments tab and navigate into a given list.

• Click List Growth

• List Growth rate = (net membership change/total members)* 100.

Addressing Slow Growth: Use pop-ups, lead magnets, and other lead generation tactics to attract more subscribers to your email list, and ensure that you're providing value to your subscribers to encourage them to stay engaged.

8. Engagement Rate: Are Your Subscribers Engaged?

Sending emails is one thing, but are your subscribers actually engaging with them? The engagement rate measures the level of interaction and engagement with your email content, including opens, clicks, and other interactions.

Importance: A high engagement rate indicates that your email content is resonating with your audience and driving meaningful interactions. It's important to monitor your engagement rate to ensure that your emails are effectively engaging your subscribers and driving desired actions.

Tracking in Klaviyo: Access your engagement report within Klaviyo's analytics dashboard.

• To access your engagement report, head to your Lists & Segments tab and navigate into a given list.

• Click Engagement.

Addressing Low Rates: Fine-tune your email content to make it more relevant and engaging to your audience, and experiment with different types of content and messaging to see what resonates best.

9. Average Order Value (AOV): Are Customers Spending Enough?

It's not just about making sales; it's about maximising the value of each sale. The average order value (AOV) measures the average amount spent per order, providing insight into the purchasing behaviour and preferences of your customers.

Importance: Understanding the average order value can help you identify opportunities to increase revenue by encouraging customers to spend more per order. It can also help you identify trends and patterns in purchasing behaviour that can inform your marketing and sales strategies.

Tracking in Klaviyo: Analyse AOV metrics within Klaviyo's analytics dashboard.

Addressing Low Values: Offer upsells, cross-sells, or bundle deals to encourage customers to add more items to their cart and increase their order value, and personalise your marketing efforts to recommend products that are relevant to each customer's interests and preferences.

10. Repeat Buyer %: Cultivating Customer Loyalty

It's not just about acquiring new customers; it's about fostering loyalty and encouraging repeat purchases. The Repeat Buyer % measures the percentage of customers who make multiple purchases over time, reflecting the effectiveness of your retention strategies.

Importance: Repeat buyers signify satisfied customers who trust your brand and contribute significantly to revenue. Tracking the Repeat Buyer % helps gauge customer loyalty and the success of retention initiatives.

Tracking in Klaviyo: Utilise Klaviyo's analytics dashboard to segment customers who have made more than one purchase and calculate the percentage of repeat buyers among your total customer base.

Here’s summarizing these points in an image.

So there you have it – a comprehensive guide to the essential email metrics every e-commerce business should be tracking. Armed with this knowledge, you'll be able to optimise your email marketing strategy, drive greater engagement and conversions, and ultimately, achieve greater success.

Got questions or need further clarification? Feel free to reach out anytime.

Happy tracking!