You have to look beyond the email marketing campaigns for businesses and find out the true impact it has and the opportunities to keep improving. It is time for email marketing professionals to evaluate performance in terms of goals, objectives, and expectations.
Once you know this you have to ask yourself why email marketing is used and what you want it to do for you. Here are three types of Email Marketing Analysis for businesses that should be standard practice in measuring the impact of the user.
1. Response Segmentation Analysis
The good thing about this type of analysis is that you do not have to split your list into different segments before you implement a campaign. In your database, you can develop a detailed profile of who the subscribers are. In addition, for this type of analysis, you can create response profiles (open, click and conversion).
Neither should stop the conduct of analysis between campaign and campaign. It must be done for the campaigns deployed quarterly, semiannually and annually.
Once you have obtained your response, you can use that information to understand how demographic or geographic differences affect response, improve targeting and segmentation in future campaigns, vary the type of bids to improve responsiveness in less active segments or develop and test different frequencies to different segments.
2. Engagement analysis of email subscribers
Having a report on the execution of each message that is implemented in the email is important, but you should also know how your entire list of subscribers behaves in response to your email for longer periods of time.
This type of analysis is based on the measurement of the actions accumulated by the consumer that responds during a defined period of time, in order to discover the most active and less active segments. This type of analysis is more concerned with measuring the overall reach and effectiveness of email marketing to your list.
This acquired information can be used to provide incentives, increase the response of the least active in order to see if their commitment improves, identify the weak list segments or that do not respond to reactivation campaigns. It can also be used for deletion or to create a “premium” program that improves response and rewards with exclusive offers, content or other special treatment.
3. Channel Contribution Analysis
This analysis seeks to determine the economic impact but does not refer to direct sales revenue but to potential customers, new subscriptions or connections to social networks. It could also take care of the measurement in the cost savings, as well as of a greater efficiency of the email marketing in front of other channels of more expensive commercialization, like the traditional direct mail.
This analysis allows you to determine the return on investment (ROI), determine the average response/value of the order (AOV), calculate the revenue by email and calculate the value by email.