StrongMail – Email Measurement – Beyond the Open Rate
As marketers continue to identify opportunities to leverage email as part of an integrated and multi-channel marketing plan, it is imperative to understand the most effective manner in which to measure success of the channel. And with no standardization in nomenclature or calculation of email measurement metrics, coming to consensus can be more than difficult.
What is certain is that it is time to go beyond the basics. While opens and clicks provide you some insight into how a specific message is performing, it does not give you any insight into the effect that that message had on the buying decision. So the real question becomes, how to do you attribute revenue and conversion to an email communication?
The answers are easier than you think – though few want to take the approach. Direct marketers have been doing channel attribution for years; formulating means and methods for determining incremental behavior as driven by a marketing effort. Consequently, this requires holding out a Control group. Yes, a control group that you don’t send select communications to. I know…a statement like this is likened to email blasphemy these days, but nonetheless, it is an effective (and easy) way to achieve channel attribution.
Measuring Email Impact
In taking the lead from Media Buyers and Direct Marketers around the globe, here are a few things to consider when determining the impact your email program has had on your marketing efforts.
Media Buyers have long leveraged the “impression” as a metric in the ad procurement process as well as success measurement. The reason is that tracking the conversion of a television commercial or an ad in a magazine is near impossible to measure. However, it is also a known fact that exposure to an ad or commercial can also formulate a response from the consumer; hence, the importance of an impression. But because of the insane amount of tracking that we can do in the online world, the impression has gone by the wayside in measuring impact.
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