Do you know how your email open rates measure up to similar businesses in your industry?
Your email open rate, an important marketing metric, is a tally of how many people open or view a particular email campaign. Open rates are typically expressed as a percentage and this is the formula:
Open Rate= Unique Opens / Number of Emails Sent
As a business owner or marketer, tracking your open rates (along with a few other email metrics) and attempting to improve them should be a priority. Keep a spreadsheet of your email open rates and establish your quarterly open rate average. Now you can do a quarterly comparison to identify trends or patterns.
You can also use your open rate average to compare yourself to others in your industry.
The chart below (source: Constant Contact) contains open rates by industry and other email metrics: bounce rate (percentage of bad emails), click through rate (percentage of people who clicked on links in your email) and unsubscribe rate (percentage of people who leave your list).
Check out your industry's email open rate and see how you compare:
Stay tuned for next month's blog where we'll discuss how to improve your open rate!