Put Your Metrics to Work for You
In a recent article for MarketingProfs, Karen Talavera discussed the importance of measuring metrics that matter, and outlined the difference between process metrics and contribution metrics.
In a follow-up article at the site, she explains how the information you've gathered can be used to produce valuable insights like these:
Post-campaign response analysis uses process metrics like open, click-through and conversion rates to gauge how various segments respond to an offer. "For example," notes Talavera, "analysis by time-on-list might reveal that established members (who signed up more than six months ago) have higher click-through rates on average than 0-6 month (newer) members, creating an opportunity for different email frequencies for different list segments."
Contribution analysis relies on data that determines a campaign's economic impact, which "doesn't always mean direct sales revenue," she notes. "It could, but it might instead be measured in increased site traffic, leads generated, new subscriptions attained, or gross brand impressions. Or, it could be measured in the cost savings and efficiency gains of email vs. more expensive marketing channels."
And don't stop there. "To get the most holistic read on your email marketing performance, you’ll have to look beyond email, especially if offline conversion is the norm," Talavera notes.
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