The fact is, even with the surge of social media, email marketing continues to grow. Most marketers agree with the power of email marketing and it has proven to be a viable and cost-effective marketing strategy instead of traditional channels like direct mails, newspaper etc.
A key advantage with email marketing is that you can track the campaign performance and calculate the ROI using metrics like Open Rate, Click Through Rate, Conversions, Unsubscribes, Bounce Rate etc. However, marketers often want to find out the industry standards or benchmarks they can compare to analyze how their campaigns are faring.
MailChimp, a popular email marketing software has published a study on email marketing using their huge user database and their campaigns. According to them, the study has been conducted across companies of various sizes (from one person start ups to Fortune 500 companies). Further, they tracked 65,536 campaigns which were sent to at least thousand subscribers. Thus, the study is pretty comprehensive.
It is found that photo and video businesses have the highest Click Through Rate, they also had a pretty high open rate of 48%. Another interesting number to look at is the highest average Open Rate seen by the newsletters and emails sent by religious establishments; is the world is becoming more spiritual? 🙂
On the other hand, even though Daily Deals and coupon industry had a decent Open Rate of about 19%, the CTR was one of the lowest (1.9%) just 0.5% percent above the lowest CTR (gambling). The high open rate could be due to the subject lines with attractive deals and the low CTR could be attributed to not finding a suitable deal for a product they are in need of. Check out the email marketing statistics relevant to your industry and compare it with yours.
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What are your observations and tips to improve email marketing performance. Sound them off below 🙂