What is Email Marketing Conversion Rate (CR)
The percentage of subscribers who complete a goal action after reading your email is your email marketing conversion rate.
This is an important metric for digital marketers who aggressively work in email marketing because it determines the effectiveness of your email marketing and your return on investment.
Every email you create should serve a specific purpose, such as selling a product or inspiring readers to visit your blog. Make it as easy as possible for your audience to take action by including a compelling call to action (CTA) that directs readers to the appropriate page on your website.
In many cases, the conversion goal will be purchase-related, so directly correlating the success of email marketing efforts to a complex number (such as the sales associated with the conversion rate) is critical.
It’s critical to remember that, while you’ll have a goal in mind for each email you send, each email should provide direct value to your subscribers.
Even if every email does not result in a sale, you will still have goals and conversions to track. In today’s consumer-driven marketplace, sending an overtly sales-oriented email is unlikely to result in the desired conversion rate.
Instead, focus your campaign on the value this product provides to your subscribers and compel them to buy in this manner.
There’s no shortcut to improving your conversion rate. Instead, focus on delivering value to subscribers and putting their needs and desires first. You’ll see better results from an engaged audience every time.
How to Calculate Email Marketing Conversion Rate
what can use this simple formula to calculate the conversion rate for your email marketing campaign:
Email Marketing Conversion Rate = Number of Conversions / Number of Delivered Emails ×100
When calculating your email marketing conversion rates which play a vital role in digital marketing, use the correct number for delivered emails. The number of emails delivered is the number of emails sent minus those bounced.
For example, if you sent out ten emails in your campaign and two of them bounced, your total number of delivered emails is eight.
Furthermore, your conversion rate is four if four subscribers complete the goal you set for the email campaign due to those eight emails.
When we enter all this information into our formula, we get a 50% conversion rate for email marketing.
What is a reasonable email marketing conversion rate?
There is no single answer to this question because numerous factors that influence your email campaign are unique to it. One of these factors is the type of email.
Types Of Email
- Newsletter
Conversion rate – 1 Percent
- Order-follow up
Conversion rate – 5 Percent
- Inactive customer
Conversion rate – 2.6 Percent
- Abandoned cart
Conversion rate – 5 Percent
- Member Follow-up (e.g. registration)
Conversion rate – 2.7 Percent
The best answer is: that if your conversion rate is good enough to help you meet your goals, it is a reasonable conversion rate. It would help if you always strived for higher email conversion rates in your subsequent email campaigns.
You can compare your conversion rates to those of other marketers in your industry to help you determine your own.
Three ways to improve your average conversion rate
Are you willing to earn a high conversion rate? With these three strategies, you can begin to improve your current average!
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Make testing a habit
Businesses frequently create CRO plans but then fail to implement them. A lack of time, limited resources, or unexpected projects can all cause a CRO initiative to be postponed or cancelled.
When this happens, your conversion rates will come to a halt.
While minor fluctuations in your conversion rate may occur, these changes will not help you achieve a reasonable conversion rate. If you want to achieve a high conversion rate, you must not only devote time to CRO but also make it a habit.
Finally, you decide whether to continue or discontinue the tests at the end of the month. You can make CRO a habit by doing the following:
Making a calendar appointment
Setting aside time in your schedule and calendar Set personal or team goals to increase conversion rates.
If you lack time to devote to CRO, consider using conversion rate optimization services to increase sales and revenue.
WebFX’s CRO services assist your company in increasing its conversion rate. In some cases, the results generated by these services can pay for themselves.
If your purchase conversion rate increases by 5%, your company will earn more money.
1. Experiment with different CTA offers
Your offer has a significant impact on whether a user converts. That is why you should try out different suggestions.
While you don’t have to create an entirely new offer, you should experiment with other words, phrases, and calls to action (CTAs).
These modifications can have a significant impact on your conversion rates.
For example, if your company provides a free trial of its software, you could combine the following offers:
“Try it right now.”
“Begin your free trial now.”
“Start a free (no credit card required) trial” “Get a free 14-day trial.”
Depending on the software, you may even incorporate your software’s specific features into your offer.
For example, if your software analyses a user’s grammar and spelling, you could motivate them by saying something like, “Get your grammar score now!” or “Does your grammar rank among the top ten?”
While brainstorming offers takes time and dedication, the results can be massive increases in your average conversion rate.
These gains can result in more leads, sales, and revenue for your company, as well as praise from colleagues and company leaders.
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Do extensive tests to earn significant results
Do you consider the following when you think of CRO:
Changing the colour of a button?
Increasing the size of a font?
Is an image being updated?
While these tests can affect your conversion rate, they usually have a minor one.
They rarely increase your conversion rate by several percentage points, which is insufficient when you want to go from an average conversion rate of 5% to a reasonable conversion rate of 10%.
That is why you should try large-scale conversion rate optimization tests.
Because you change the user experience, these tests, such as updating a page design, can significantly change your conversion rate.
Beginning with a large-scale experiment can also aid in the transition to smaller tests, such as button colors, font types, or images.
Begin now on improving your conversion rate with these three tips!
Conclusion
We hope you enjoyed our blog post on email marketing conversion rates. Email marketing is both a powerful and effective tool in the digital marketing space.
With these statistics, we hope you will be able to use email marketing more effectively in your current and future campaigns.
