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Key Metrics to Measure for Email Marketing Success
Learn how to determine if your email marketing campaigns are successful—the key metrics to analyze, where to check those metrics in Klaviyo, what to compare them with, and more.
Our Specialists Manager, Glen Wilson, and our Facebook Ads and Klaviyo expert, Dan Nikas, dives deep into an account with 44% of revenue attributed to email marketing to show you how to analyze your email marketing campaigns and use those data to optimize your strategy for success.
Learn about the Solutions 8 Digital Marketing Services here: www.sol8.com/digital-marketing-services
0:00 Intro
0:25 Key Metrics to Measure for Email Marketing Success
5:35 Checking your attributed revenue
9:55 Reviewing the top performing flows and metrics
13:42 Industry information section
20:45 There isn’t a universal standard for metrics
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Transcript
If you don't know where to look
for them to start with in your
2
:own account, you're flying blind.
3
:So I thought what I'd do is I'd jump
in and I'd, a bit of an overview of
4
:accounts when we do an audit on them.
5
:There's a lot that we do in the
audits, but fundamentally, these are
6
:the places that we will start to look.
7
:Make sure things are set up correctly.
8
:Hello, YouTube land.
9
:Here we are again with Dan Nickis
and we are going to be talking
10
:today about email metrics and
what you should be looking at.
11
:If you have, an email system,
whether it's Clavio, whether it's
12
:any other platform like MailChimp,
GetResponse, Aweber, any one of those.
13
:How do you know if those that
your email campaigns or your
14
:email marketing is working?
15
:So Dan's going to drill into what
you should be taking notice of
16
:if you're using email marketing.
17
:think Dan, you were saying this is
part of the audit that you do as well.
18
:Is that right?
19
:probably the discussion that we were
having is It's all good and well for me
20
:to say, you need this percentage open
rate, or we look for this percentage
21
:click through rate, or we look for this
percentage unsubscribed rate, if you don't
22
:know where to look for them to start with
in your own account, you're flying blind.
23
:And then when you do look at it, how
do you know whether it's good, bad,
24
:average, or how can you improve it?
25
:if you don't know your metrics, then you
don't know what you should be working on.
26
:You could be working on the wrong things.
27
:You could be doing something
really well and think you're
28
:doing it poorly and change it.
29
:Or you could be doing something
really poorly and think you're doing
30
:well at it and make no change to it.
31
:So I thought what I'd do is I'd jump
in and I'd a bit of an overview of
32
:accounts when we do an audit on them.
33
:There's a lot that we do in the audits,
but fundamentally, these are the places
34
:that we will start to look, just make
sure things are set up correctly to start
35
:with, to be able to measure these metrics.
36
:And then overall, what we're looking
at to make sure the connections are
37
:right, what the open rates are, the
click rates, where they're possibly
38
:got, they're leaking revenue, where
they possibly could be making more,
39
:what's doing really well for them.
40
:and, these things are very generic across.
41
:All niches within e commerce.
42
:It's not a case of well, this
should only work for if you're in
43
:the beauty niche or this should
only work if you're in apparel.
44
:We have such a broad range of
clients, through the agency that,
45
:we know that these systems work with
all of them, which is why, we're so
46
:passionate about it we've got such
a detailed system because it works.
47
:It works in every niche.
48
:With an e commerce.
49
:So these are the things that we look for.
50
:This is what we, dive into.
51
:And this is the stuff we'll come back
and report to people once we do an audit.
52
:But, for the people out there
this, jump into your own accounts.
53
:I'm going to take you through Klaviyo
because that's what we use and recommend.
54
:If you're on MailChimp, Aweber,
Constant Contact, Campaign Monitor,
55
:GetResponse, whatever it is, they're
going to have it somewhere in there.
56
:Jump in and have a look and
you'll get an idea about where
57
:you are or where you should be.
58
:And with the limited understanding
that I have with your system, this is
59
:something that you Constantly monitor.
60
:And if there is a dip in performance in
whatever metric that you're looking at,
61
:you're always trying to improve that
metric, whether it's a click through
62
:rate, you're modifying, email, titles,
descriptions, anything that's coming out.
63
:if you're seeing a drop in
that metric, you'll go, we
64
:need to improve that somehow.
65
:Yeah.
66
:Yeah.
67
:So this is something that when
we did the audits, we do an audit
68
:before working with the client,
but this is done daily as well.
69
:When we're in a client account.
70
:Yeah.
71
:it's not like you get client and you
set everything up and you walk away.
72
:This is something that you
are monitoring all the time.
73
:We have to, and whilst our flows
are automated they are an automated
74
:system that based on user behavior,
people will receive different emails.
75
:They still need to be constantly
tweaked, changed, updated, even if
76
:it's the most perfect system and it's
performing amazingly, at some stage,
77
:that whole system needs an overhaul
because you can't keep sending out the
78
:same stuff month on month, year on year.
79
:Forever in a day, people are going
to start seeing the same content.
80
:They become disengaged with it.
81
:We need to update things.
82
:but yeah, it can be everything from
a subject line to preview text to the
83
:content of the email to where the call
to actions are contained in the emails.
84
:It can even be split testing.
85
:within flows, it's split testing
campaigns, it's changing what audience
86
:that we send it to, what parameters
people need to, make for us to put
87
:them into particular segments that
we send these emails out to, and this
88
:is not just a set and forget process.
89
:Like this is constantly being worked
on all the time in the back end.
90
:without further ado, take it away.
91
:probably the hook that
we bring people in Is.
92
:How much?
93
:What is the percentage off revenue
that you're generating as an overall of
94
:your gross for your e commerce store?
95
:What percentage you generating per month?
96
:Now, most people don't
know, and they're surprised.
97
:And we say, recommend that
you should be at around 30%.
98
:On average, all of our clients,
if we collectively put them all
99
:together, we've run the numbers.
100
:It's about 30 percent off the revenue.
101
:That you generate gross it gets attributed
to, and email marketing efforts that
102
:we put in some sit at 20 others
like this client sit at nearly 44.
103
:So it's an average.
104
:Now, there's some factors that go
into that, it's going to depend on the
105
:industry, whether it's a one purchase
only product, whether they've got
106
:repeat purchases, things like even how
they generated their lists before we
107
:became involved, some people have bought
lists, some people have got lists
108
:by running, giveaways the wrong way.
109
:so it all depends on how we've
got people into that list as to
110
:how engaged they are and what
chance we have of converting them.
111
:So fundamentally that when we come
in, the first thing we do is we come
112
:to the home and we look here and the
first thing I want to look at is what
113
:is your percentage of total revenue?
114
:Now, the attribution with Klaviyo,
the way that it picks it up, so you're
115
:going to have, duplicate attribution,
it's going to happen, but if we compare
116
:apples to apples, we go month on month
with Klaviyo, we go rightio, this is
117
:what it was last month in Klaviyo, this
is what it is this month, it works on
118
:people that have opened and clicked the
emails, so that's what the attribution
119
:is, they've had to have a touch point
during that buying journey with email.
120
:we look at this and we go, okay, the
attributed revenue for this client
121
:who has a pretty healthy top line
is sits at 44%, nearly 44%, 43.
122
:89.
123
:That's above what we need to, or
what we see as an average.
124
:It's really healthy.
125
:So we look at that and we go, excellent.
126
:We're on the right track.
127
:The next thing we look at is RIDEO.
128
:Where is the majority of
their revenue coming from?
129
:So Clavius split it up into campaigns.
130
:And we can see here 71 percent of the
revenue from the emails that's attributed
131
:to Clavio is coming from campaigns
and 28 percent is coming from flows.
132
:So that's the top line where we look at.
133
:There's no right or wrong balance here.
134
:This will come down to, the type of
product, the industry, how often a
135
:company sends, or a brand sends campaigns.
136
:This brand sends about four
days, four times a week.
137
:Campaigns are very heavy.
138
:They have a lot of new
products coming out.
139
:they get a lot through their campaigns.
140
:Their flows, not to be staged,
are still generating nearly 150
141
:grand for them in the back end.
142
:but they're not as, profitable because
we send out quite a lot of campaigns.
143
:Now, in saying that, that's
not to say that the flows are
144
:more, a larger percentage.
145
:Of the revenue isn't because of the flows.
146
:This is another way that we need to look
at the attribution with Flavio is it
147
:works on last click last touch point.
148
:So if we've got a brand that's
sending, 456 emails a week by
149
:campaigns, the last touch point.
150
:More often than not is going to be from a
campaign, but that's not to say that the
151
:flow didn't play a vital role in that as
well in getting them across the line to
152
:either build trust, show them reviews,
show them some user generated content,
153
:went through the quality of the product,
told them about the brand backstories,
154
:some behind the scenes style, content.
155
:All it means, though, is the last
thing they touched was a campaign.
156
:So the high volume of campaigns,
we do see more people coming
157
:through it with that attribute.
158
:when we come down on the home
screen, our top performing flows,
159
:you can see that we've got quite
a lot of flows set up in here.
160
:When we start the build outs, we
start out with six to seven flows.
161
:Core flows, we call, and that's on
the sheet that should be attached as
162
:a link down below here, which talks
about the different flows that we
163
:do set up as part of the build out.
164
:But that's not all there is,
it does extend beyond that.
165
:That's just what happens at the beginning.
166
:And they do, they are your core
fundamental flows and every brand has
167
:at least 6 more often than I'll have the
7 again, it just depends on The niche
168
:that they're in or the product that they
sell, but you do continue to build on
169
:that and build on that and build on that.
170
:And you have this really
sophisticated, network of automations
171
:and flow sitting in the back end.
172
:And what you can see here is you
can see how many deliveries it had.
173
:We've got four different ones in here that
we've got A B split tests running on the
174
:status of them, whether they're email or
SMS, client doesn't lean on SMS at all.
175
:That's just a brand choice but a lot of
clients you'll see they'll have their
176
:SMS flow sitting up in here as well.
177
:How many deliveries?
178
:How many products have ordered?
179
:amount of dollars per recipient that we
send out to and then a percentage change.
180
:This is a 30 day period
that we're looking at.
181
:So we've had some ups and downs in
here in terms of the flow revenue.
182
:The campaign revenues performed
exceptionally well, and we can see
183
:our most recent campaigns here.
184
:This goes back to the 27th of March.
185
:We got some campaigns that have run at
smaller levels, some that have run at much
186
:bigger levels, 60, 000 from this campaign,
268, 000 from this campaign here.
187
:So there's a lot that can
be done with the campaigns.
188
:Like I said, though, this
is the last touch point.
189
:It is a flow that potentially has
also contributed to this process.
190
:So how do we know when we're
looking at it and we look here at
191
:the open rates and the click rates?
192
:How do we know if these
are healthy or not?
193
:Klaviyo has some really
good data on the back end.
194
:And I'm going to show you how to set
it up properly so that, or how we check
195
:to see if it's set up properly make
sure that it's comparing your industry
196
:to a similar industry, your brand
to a similar brand that's out there.
197
:the good thing with Klaviyo is in
the US, there's 150 odd thousand.
198
:stores built on Shopify, of that 80
percent of them have Klaviyo connected.
199
:So we're talking about a really
large section of them there
200
:that are connected to Klaviyo.
201
:And that's why we use and recommend it
because it is the industry leader when it
202
:comes to e commerce and e mail marketing.
203
:But how do we know whether a, let's
say here, a 36 percent point, 36.
204
:83 percent open rate and a 2.
205
:76 percent click rate is good?
206
:Do you know, and I couldn't
tell you in this industry if
207
:that's good, bad and different.
208
:I've got an idea because I live in
this space every day and I know where
209
:it should be and I know definitely a
60, nearly 62 percent open rate and a
210
:15 percent click rate that generates
60, I take that every day of the week.
211
:But, how do you know, as a brand
owner, whether your brand is
212
:performing in line with similar brands?
213
:The thing is, to start with, is that
you need to set it up in the backend.
214
:So you need to tell Clavio what industry
you're in, what's your niche, so it can
215
:compare you to other similar based brands.
216
:So when you come in here into, settings,
Down the bottom here, and when you
217
:come into settings, the first thing
you click on is Account, Organization,
218
:and just come down to the bottom,
there's an Industry Information section.
219
:that is the best place to start.
220
:Okay, so this one's an e
commerce in sporting goods.
221
:There is a lot in there.
222
:Try and be as specific as you can,
because what it's going to do is it's
223
:going to compare you to other people in
that industry that are similar to you.
224
:So that way you know whether
you're performing where
225
:you need to be performing.
226
:Okay.
227
:we can have a look at all
the other settings in here.
228
:But fundamentally, what I wanted to show
you in here was the industry information.
229
:This is where we're picking up whether,
where are you telling Klaviyo your
230
:industries, what your brand does.
231
:When we have a look here, we can
come across into deliverability
232
:and this is now going to tell us
based on our previous, 30 days.
233
:What we're doing well, what
We're not doing that well.
234
:And this gives you a
rating out of a hundred.
235
:And this is telling us
that our score is good.
236
:It's telling us what we're doing well,
and this is where it's important that
237
:we have the information in there
telling Klaviyo what industry we're in.
238
:It's telling us our open rate
with our account is 42.4%.
239
:The recommended.
240
:So this is the guidance
for healthy deliverability.
241
:So this is in the eyes of Gmail, Yahoo,
Hotmail, all of those inbox providers.
242
:This is the metrics they're looking at
to decide whether you're spam, whether
243
:it's a promotion, whether you're, going
to be banned, whether you're just going
244
:to bounce straight out of people's
email accounts because of these metrics.
245
:So this was a lot of domain reputation,
which is why we tend to warm accounts up
246
:or domains up when we start instead of
just, you never just send out to everyone,
247
:but it's because of these reasons.
248
:So on average, this account
has an open rate of 42.
249
:4, which is great.
250
:So nearly half the people that
receive the email open it.
251
:Now that needs to be greater than 33%.
252
:These metrics here are
the industry standards.
253
:So these are what people in your
industry on average are achieving.
254
:We know here open rates good.
255
:They give us a tick.
256
:They say excellent.
257
:That's lovely.
258
:That's nice.
259
:The click rate we have is 3%.
260
:Needs to be greater than 1.
261
:2%.
262
:Now, just a caveat with click rate.
263
:That's not click through rate.
264
:So what a click rate is how many people
that were in total sent the email,
265
:clicked on it, not how many people
opened it and then clicked on it.
266
:So click through rate is of the
42 percent who clicked on it.
267
:Click rate is, say we sent this to 1, 000.
268
:Well, 3 percent of that 1, 000 clicked
on it, not 3 percent of the openers.
269
:So that's where people tend to get
a little bit confused, because they
270
:look at that and they go, Mistaking
it for a click through rate.
271
:It's actually a lot higher.
272
:This account sits at about 8
percent click through rate.
273
:Which is, again, fantastic.
274
:But that is of the people, of
the 42 percent that opened it,
275
:who then went on to click it.
276
:Bounce rate, we need to be less than 1%.
277
:This is telling us it's
good because we're at 0.
278
:75.
279
:We're sitting in the fair here with an
unsubscribed run, a spam complaint rate.
280
:We're right on the border with spam
complaint rate, right on the average of 0.
281
:01.
282
:Still very low.
283
:This account sends out about 2
million emails every 30 days.
284
:So not that concerned that we have 0.
285
:01%.
286
:Do we always try and
maintain a low spam rate?
287
:Absolutely.
288
:But when we're sitting at the
industry standard and we're
289
:sending 2 million emails a month.
290
:We're comfortable with that because
in the eyes of the email service
291
:providers, this is a high volume sender.
292
:They've got a dedicated sending domain.
293
:Their reputation is good.
294
:The authority is good.
295
:In fact, they sit right on the
average of spam complaint rates.
296
:Unsubscribed rates were 0.
297
:01 percent higher than the average,
which is why we still get a fair.
298
:So that's.
299
:All good as well.
300
:If we're looking down here, we can
see what our bounce rates, we can
301
:see our recent performance campaign.
302
:So it's our last 5 campaigns
that we sent out, and we can
303
:see recent flow performance.
304
:And this is where we
get all these data from.
305
:Another good place to look.
306
:Is you come across to
your benchmarks over here.
307
:Now, it only goes back the last month.
308
:So we're sitting now in April.
309
:It won't let us go any further back.
310
:It'll give you last month or a custom
range, but with that custom range,
311
:it won't let you go into April.
312
:So it's going to, it's always doing
a look back on the data for 30 days.
313
:It's telling us what we're
doing well in this account.
314
:So in this account, we've
got an excellent revenue.
315
:And it sits at 3.
316
:Now, is 3 what you should be aiming for?
317
:Probably not.
318
:This client is in a space where
it's high average order values.
319
:and they send out a very high volume.
320
:They turn over millions of dollars a year.
321
:That might not be the equivalent for you.
322
:You could be in the cents range.
323
:it could be like 10 cents per
recipient, that's why you need to tell
324
:the system what industry you're in.
325
:The average order value.
326
:Good.
327
:It sure is.
328
:It's at 974.
329
:Should you be at 974?
330
:I don't know.
331
:I need to look into your account.
332
:you will know what your average
order value is and whether you're
333
:doing a good job with that.
334
:revenue per recipient that comes
out of that flow average cart size.
335
:average order count.
336
:So this is what we're doing well.
337
:And then it also tells us
what we're not doing so well.
338
:So on the thank you flows, we have
a pretty high unsubscribed rate.
339
:So we need to go in and
have a look at that.
340
:the conversion rate on the
abandoned car flies is low.
341
:you can't just only go, I'll
just look at these ones.
342
:We're doing great.
343
:We can come in here and
we can go right here.
344
:what can we do better?
345
:The obvious thing is here we've
got a spam rate and a, unsubscribe
346
:rate that's not great sitting in
the thank you flows that we have.
347
:let's go in and change that.
348
:We might have to change the
frequency of what we're sending out.
349
:We might have to change the volume
of what we're sending out in
350
:there because ultimately these are
impacting on the overall metrics.
351
:The email service providers, inbox
service providers, they don't look
352
:at individual metrics like this.
353
:They're looking at you
collectively as a sender.
354
:You need to, these are impacting on that.
355
:We need to adjust it.
356
:And that could be how we get
that rate down here of 0.
357
:31% unsubscribe rate or the 0.
358
:01 percent spam rate, they could be two
areas that we can drill down into and we
359
:can actually, fix, which could then have
an impact overall on the overall sin rate,
360
:the overall unsubscribe or spam rate.
361
:these are the places that we need to look.
362
:And I just thought that it was really
relevant just to highlight And it
363
:comes from, sometimes you see gurus
online and they're like, you should
364
:have an open rate of 50 percent
and a click through rate of 5%.
365
:And I'm like, that's fantastic.
366
:And that might be true for certain.
367
:It's just certain brands, but that's
not, there's no, to think that we can
368
:just have standard, an online standard
of what your emails should be open and
369
:clicked on around the world for the
billions of emails that are sent every
370
:day, then, it's foolish, but so what you
need to do is look at your brand, have it
371
:compared to other people in your industry.
372
:And see where you can make improvements
because that's what you can control.
373
:And to have someone, to have a
throwaway line, you should have
374
:this particular open right?
375
:what are they talking about?
376
:Are they talking about flows?
377
:Are they talking about campaigns?
378
:Are they talking about a segment of
100 people that I know will definitely
379
:all open it because I'm telling them
that they're going to win a prize?
380
:there's so many variables in
that it just frustrates me.
381
:we are dealing with real people on the
other end of devices, whether it's on
382
:their phones or if it's on their, their
human sitting at the other end and you
383
:can't keep everyone happy all of the time.
384
:So there's always going to, we've got so
many different personalities in the world.
385
:We've got so many different
cultural differences.
386
:Whatever their reason is, there's
always things that we can do to improve.
387
:Awesome.
388
:Just small part the numbers and the
metrics you look at, especially when
389
:you're trying to improve the campaigns.
390
:100%.
391
:and that's what I say to people
as you can tell by the amount of
392
:talk, but the data doesn't lie.
393
:a client comes to us and says, I only
want to send one email a fortnight,
394
:only send one email a fortnight.
395
:myself and my team will do
whatever you ask us to do.
396
:However, can you let us try doing
something different and we'll
397
:look at the data and then we'll
come back to you with the data.
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:It's not opinion.
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:It's not what Dan thinks
you should be doing.
400
:It's not what you think
you should be doing.
401
:It's the data.
402
:And what is the data representation of?
403
:It's a representation of
your entire user base.
404
:It's giving you signals to say whether
they like or don't like something, whether
405
:they want to be have emails delivered
to them at this frequency, the data
406
:is going to tell you that it's going
to tell you if they're marking you as
407
:spam, it's going to tell you if they're
unsubscribing, it's going to tell you
408
:if they love it and they're opening and
they're clicking on it and they're buying.
409
:We can't treat the users.
410
:The same way that you want to be treated
yourself 100 percent of the time,
411
:because we've got some databases that
have hundreds and hundreds of thousands
412
:of people on it, and we've got so
many different personalities in there.
413
:Yes, we all share some similar interests.
414
:That's why we're on this
particular database.
415
:But to think that Glenn, because you
want to receive 2 emails a week only,
416
:that is now the rule that applies
to the other 300, 000 people in
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:the database is a little bit silly.
418
:The better way is.
419
:We will do your way, but
can we try this other way?
420
:If you say no, cool, we'll do whatever
you want, but we'll recommend or not
421
:recommend certain things at the same time.
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:And we let the data
tell us what's going on.
423
:Very insightful, Dan.
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:Thank you.
425
:Thanks again for your time.
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:Appreciate it.
427
:for anyone who's interested in finding
out more about the Clavio Facebook, Google
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:Ads, U Butte Flash system that we call it.
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:make sure you reach out to us.
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:We can do an audit.
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:Dan does audits all the time.
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:on Clavio and Facebook and, until
next time, thank you for watching.