Email marketing remains the top priority of digital marketers, offering direct communication with subscribers and producing a higher ROI of $36 for every $1 spent.
In 2024, understanding and optimizing your email marketing conversion rate is more crucial than ever.
In this blog, we will understand the concept of conversion rate, how to calculate it, and ways to improve your campaign conversion rate.
What is the email marketing conversion rate (CVR)?
Email conversion rate is the percentage of email recipients who clicked on a link in your email and took a desired action. This activity involves filling out a form, signing up for an email newsletter, or making a purchase.
It helps email marketers answer the question: Did your audience do things that you want them to do?
Calculating your email conversion rate
Typically email marketers rely on Google Analytics to track these numbers. Google Analytics is a helpful tool for understanding customers by tracking various metrics like conversion rate.
For example, you just sent an out holiday sales email campaign to 5,000 subscribers. Of these 5,000 email recipients, 250 clicked through and made a purchase. Your e-commerce conversion rate is 250 divided by 5,000 and then multiplied by 100 = 5% CVR.
Good conversion rate of email campaign
- A good conversion rate depends on the type of industry, company, and your email campaign goal. However, it's useful to have a benchmark to compare your conversion rate against.
- The average email conversion rate falls between 2% and 5% across all industries. The type of industry you are in plays a crucial role in determining the conversion rate.
- Benchmarking your email conversion rate to industry averages can help you measure campaign effectiveness and recognize areas for improvement.
6 ways to improve email conversion rate (CVR)
It's important to remember that there is always a chance of improvement. Suppose you get a good open rate but struggle to convert those open into conversions. You can avoid some common email marketing mistakes.
And here are ways to increase the conversion rate of your email campaign:
1. Use responsive email design
Responsiveness ensures email looks good and works well on all devices, including, tablets, desktops, and smartphones. Here are the steps to take:
- Use a short subject line (around 30 characters)
- 14-16 px body text font size
- Use clear and concise email copy
- Large enough CTA button to be easily touched
2. Segment your email list
It's dividing your email subscribers into smaller groups based on various criteria to send targeted and more personalized emails. Did you know that using segmented email campaigns can result in 50% higher CTR than untargeted campaigns?
Segmentation includes:
- Browsing activity
- Demographics
- Types of orders
- Preferences
- Average order value
3. Craft an attractive subject line
It's the first impression your recipients have of your email and significantly improves the rate of conversions. To make it attractive take the following steps:
- Keep it short (30 characters)
- Navigate curiosity with questions
- Create urgency by using the words "last chance" or "limited-time offer"
- Include the reader's first name or location
- A/B test your subject line
4. A/B testing / Bucket testing
A/B testing or split testing is a technique of testing where two versions of content with a single differing variable are compared to decide which delivers better results. Here's how to do it:
- Identify the particular action you aim to test and improve
- Identify at what stage you are losing your subscribers
- Then brainstorm with a list of changes that might solve problems
- Use the A/B testing tool
- Decide how long you will run an experiment
- Analyze and make informed decisions based on results.
5. Leverage email automation
Email marketing automation involves using tools and software to automatically send emails based on pre-determined triggers, schedules, or actions. This allows you to send timely, relevant emails based on specific triggers or user actions. Here are different types of email automation:
- welcome email series
- Abandoned cart emails
- Re-engagement emails
- Personalized recommendations
6. Use personalization
Personalization involves personalizing email messages and content to an individual subscriber based on their behaviors, preferences, and past interactions with the website.
Personalization is a less-used tactic, with only 4% of marketers currently leveraging email marketing.
- Use the recipient name in the email
- Adjust content dynamically based on user preferences and interaction
- Suggest product recommendations based on previous purchases and browsing history
- Offer location-based personalized content and promotions
Wrap Up
The email marketing conversion rate is a crucial metric that reflects the effectiveness of your email campaigns in driving desired actions.
By knowing how to calculate CVR and ways to enhance it, you can drive your email marketing efforts to the next level.
Focus on segmentation, compelling content, mobile optimization, A/B testing, automation, and regular analysis to boost your email CVR and achieve your email campaign goals in 2024.
