When it comes to conversion, emails still reign above every other medium. Even though it is one of the oldest tools used for communication, it is still capable of presenting valuable conversions. For each $1 you spend on email marketing campaigns, you can expect an average return of $38.
One of the notable benefits of email marketing is that they are equally effective in targeting all types of audiences. From students to the working-class, emails are seen as a formal mode of communication. And so, in most cases, anything sent as an email is seen to be worthwhile.
Another reason why email marketing works is that it is permission-based. Users are intentionally signing-up to receive emails - meaning they are interested in getting updates from you. For small businesses having a minimal budget to spend on marketing, email campaigns are a sure go-to.
An email conversion can be described as when subscribers take a specific action after receiving and opening an email you sent them. The number of recipients who perform the desired action to the total number of emails sent gives the rate of conversion.
In the most basic sense, the email conversion rate is the percentage of subscribers who performed a specific action. The actions will vary depending on the goals you intended. For example, if you have an online store, a plausible action is a purchase. Likewise, for an online magazine, signing up for a subscription is an ideal intended action.
The email conversion rate formula is:
Email Conversion Rate = [ No. Of Conversion No. Of Delivered Email ] x 100
To calculate your email conversion rate, divide the number of recipients who performed your desired action by the total number of emails delivered successfully. Now divide the result by 100.
According to MailChimp, the average open-rate of all industries is around 21.8%. Generally, 2% to 5% is seen as a good email conversion rate, but again it depends on the industry you are involved in.
Surprisingly, there’s never a precise answer to it. The best thing to do is to view anything higher than your current conversion rate as better, and work to improve it continually. Always try to stay above your industry average. If your email conversion rate is pretty low, your email campaigns need a significant revamp.
To answer “How can I improve my email conversion rate?” you need to first look at how your emails delivery process.
Are they personalised to the recipients?
What value offer do they hold?
How does a user benefit by clicking the CTA button?
Once you have answers to these, you can easily craft compelling emails that will not only improve email conversion rate but will also enhance your brand identity. Here are some crucial components of an email, that might need a relook, for better conversion rate.
The subject line is the face of your email. Its effectiveness decides the opening rates and ultimately, the conversion rate of your campaign. Make sure you creatively include the pain points of your customers.
To make sure your email subject lines are click-worthy:
One of the biggest reasons why your emails aren’t being opened is because you aren’t sending the right emails to the right people. For that, you need to segment your recipients based on demographics, browsing activity and purchase history. This will make your emails highly relevant to the receiver, which in turn increases the opening and conversion rates.
Just like segmentation, personalisation is also crucial for your email campaign’s success. In fact, personalisation increases opening rates by 26%. Make the emails sound like they are directly coming from someone in the company, rather than automated emails.
Around 46 per cent of all emails are opened from a mobile device. If you fail to have a mobile responsive design, you lose right away. In some cases, if the customers find it hard to open your email in their smartphones, they might even unsubscribe from your email lists.
To make sure your emails are responsive and engaging in mobile:
How can your products or services benefit the customers? Use your emails to explain this to your customers. To make it more compelling - show them why they can’t afford to miss your products.
Email management, along with segmentation and personalisation, the contents of the email must match with the recipient’s specific stage with your business. This will make the emails even more personalised and is more likely to cause conversion.
To craft emails according to a customer’s journey stage, keep the following parameters in check:
Using these parameters, you can identify the best time and content for sending. Based on this information, you can send:
It is best advised not to include any type of forms in your emails. This is because forms are tricky to fill, especially when your customers are viewing it on a small screen. If the forms are unavoidable, limit the number of fields to as low as possible.
Your customers are impressed with your email and are eager to try out your products and services. So how to do it? Build a clear CTA that catches their attention.
The best thing to do - tell a story to your customers using the email and let the CTA be the end of it. Make it as natural as possible. A compelling CTA is a critical factor that decides the email conversion rate.
Even if you have high open rates, high conversion rates aren’t guaranteed. This may be because the post-click experience isn’t optimised.
If the customer clicks the CTA button, influenced by an offer specified in the email, they are most likely to look out for it in the landing page they end up. If they fail to find what they were looking for, your email conversion rate will suffer, and your bounce rates will be high.
To never let that happen, make sure your landing page has a message matching copy and images - letting your customers know they are at the right place. For example, if your email promised recipients 20% off on your products, make sure your landing page shows the discounted rates.
With A/B testing, you create two or more variants of your email and send at random to the users. Analysing the open rates and conversion rates of individual email types will help you in determining what works best for your conversion goals.
Even in the case of segmentation, A/B testing will help in determining what influences a specific group of recipients the most. This is because what works for one, might not work for others.
Along with highlighting solutions, customers are attracted to rewards. If opening and clicking on a CTA button are rewarding, customers are more likely to do it. Try including free coupons or even invites to free webinars - anything which your customers may find valuable.
Do note that rewards might work differently for users. Try A/B testing while sending rewards and see what works.
An automated drip campaign will send emails at specified intervals to customers after they have taken specific actions on your site. This helps your brand stay fresh in your customers’ mind and has a profound impact on email conversion rate.
Image Credits: https://www.pardot.com/blog/basics-drip-campaigns-infographic
Even though drip campaigns are automated, they don’t have to be inorganic to the customers. You can make these emails engaging by making it personalised to the recipients.
Along with crafting compelling emails, the post-click experience of the users is equally important in deciding the email conversion rate. If your email campaign is intended to make users purchase a product, make sure the checkout process is fast and straightforward. If a customer finds it time-consuming, they might abandon the purchase.
In case the user leaves without completing the purchase, follow up with personalised abandon cart emails. A good percent of users will come back and finish the shopping.
As you can see, the email conversion rate is closely related to the user experience you offer. More the time you invest in crafting the user experience, higher the conversion rate will be.
Make sure every component of the email is mobile responsive and never causes any trouble for the recipients. Use your emails to build curiosity and don’t forget to specify your value offer and CTA clearly. And lastly, personalise and segment your emails with the backing of A/B testing.