Email Metrics: Revenue per Email Trumps All
- January 24, 2017
With so many email metrics to look at these days, it’s no wonder people are confused!
Which is why Wicked Reports believes that there is really only one Email Metric you need to look at…
What is it?
Revenue per email.
Why revenue per email?
I know what you’re thinking…
You’re saying to your screen:
“What about email open rates? Email click through rates? Don’t those matter?”
Yes, they do matter, but… not really.
Let me explain…
When you send an email to your list, regardless if it’s a broadcast (one-time send) or within an automated email campaign, you probably have one primary goal.
To make money.
Even if you’re sending an “engagement email” where you’re not actually selling anything, knowing your true revenue per email is simply game-changing.
And just to be clear, I’m not talking about the average revenue per email based on the number of emails you send.
Revenue per Email
I’m talking about the revenue per email for individual emails.
Let’s jump back to your “engagement email” where you’re not actually selling anything.
You might be surprised to find that, yes, you do make sales from such an email.
In fact, one of our clients, Get Maine Lobster, made $4,741 more from an “engagement email” than they do with a traditional sales email.
Let’s look at the data…
Mark from Get Maine Lobster (who has Wicked Good Lobster by the way) averages about $2,500 per email that he sends.
This is true for his targeted, automated email campaigns as well.
One day, Mark decided to write and send an email to his list about the Marathon he was training for.
This email was nothing fancy, just a genuine, “from the heart” email about what he, as a person, was up to.
This email generated $7,241 in sales.
There were no offers made.
There was no “Buy Now” button.
Not even a countdown timer was used!
Take a look at his data right inside the Wicked Reports Dashboard below.
If Mark had measured the effectiveness of this email, he would have found that it had a really poor Click Through Rate, and an even poorer Open Rate.
The “Marathon Email” only had 481 clicks.
To put that in perspective, Mark has a list of 132,000 people!
That’s a .003 Click Through Rate. It’s so low, it’s embarrassing! (Sorry, Mark =)
But, Does it Matter?
NO!! He made $7,241 from one email!
That’s a 189% increase in revenue over his average revenue per email!!
So… what’s the point?
The point of this case study is to tell you that you really don’t know which emails are going to make the most money, until you start using Wicked Reports.
Furthermore, you don’t need to spend endless hours looking at Vanity Metrics when the only thing that matters is how much money is in your bank account.
How has this data helped Mark?
You guessed it, he’s now using more “personal engagement emails” inside his automated email campaigns and as a result, he’s crushing it!
You could say the Revenue Per Email metric is “Wicked Awesome!” (Sorry, we couldn’t resist)
“I started my ecommerce business out of my condo in 2011 and struggled for years to generate any traction from advertising. I could never tell what was working and what wasn’t. But everything changed once I got Wicked Reports installed in my business. Now I make decisions based on data instead of hunches. Wicked Reports allowed us to grow our business to $4 million with only 4 employees! And in the last 90 days, we’ve made over $200k from spending $30k on Facebook ads alone. Wicked Reports helps us increase our conversion rates, lower acquisition cost and double the ROI on our online marketing efforts!”
“Because of Wicked Reports we were able to cut spend in half for re-engagement and doubled customer acquisition and it was super profitable. Most effective month ever! ”
“Since we started using Wicked Reports, we’ve gotten much deeper insight into how our many marketing campaigns are performing, all the way down to ROI on each campaign and ad. Wicked Reports saves us both time and money, and we’re happy to recommend them and their team to anyone that’s spending money on digital advertising. It's a game changer for any serious small business. ”