Email marketing is one of the most effective strategies in the SaaS industry. It helps you interact with your customers, inform them of new products, pitch new product features, etc.
However, how do you know which of your campaigns are succeeding or failing? This can be done by measuring your email marketing success through proper analysis. Understanding the effectiveness of your SaaS email marketing goes beyond just knowing who opens your emails.
It’s about tracking more seriously into metrics that tell engagement, conversions, and your return on investment (ROI). Whether you are a small/medium business or are using a SaaS email marketing agency, understanding how success should be measured is important to fine-tuning the strategies to meet the planned goals.
In this blog post, you will know the most important metrics defining email marketing campaigns’ effectiveness.
Importance Of Measuring SaaS Email Marketing Campaigns
In SaaS, email marketing can be much more than just sending out newsletters and expecting a great reception. When used correctly, it is a handy competitive weapon that can generate high results in business growth, customer attraction, and loyalty. However, to generate the level of impact and power required, it must be gauged appropriately.
This is why it is so significant for SaaS businesses,
- Helps In Decision Making: Knowing the emails that help with your audience helps you in making correct decisions in your saas email marketing campaigns.
- Helps Allocate Resources: Your email marketing resources are always important, so clearly measuring the results is essential. You can then allocate the time and resources that get maximum results.
- Customer Insights: Through metrics provides you with getting your customer preferences and behaviours. You can understand how they engage with your emails and know the details.
- Engagement: Regularly measuring your email marketing campaign allows you to improve your engagement rates. This includes high open rates, more clicks, and more conversions.
How To Measure Success Of An Email Campaigns
Measuring your SaaS email marketing campaigns comes with some key metrics, and you should focus on these.
1. Open Rates in Email Marketing
The open rate gives you the percentage of email recipients who open your email. It’s the main metric that helps you know how effective your email campaign is. If you get high open rates, your email’s subject line will be compelling, and the audience will be very interested in your email content.
20-28% is a good benchmark for SaaS companies’ open rate values. If your email open rates are below this, you have to retouch your content and your subject line to attract more customers.
To set up a proper open rate for your saas email campaign, consider the following points:
Content Relevance: All the email subscribers are more likely to open emails that offer valuable information, solutions to their problems, or content that aligns with their choices.
- Send Time: The sending timing of your emails can impact your campaign open rates. So, you must consider your audience’s time zone, typical behavior, and even industry-specific standards.
- Frequency: The frequency of your emails can affect how subscribers perceive your messages. You can send too many emails because that leads to lower open rates. Try to send a proper number of emails to subscribers that are manageable for your audience.
- Email List Quality: A smaller list of engaged audiences is more valuable than a larger list with many disinterested subscribers. You can optimize the email list and maintain high open rates.
- Email Copy Content: The actual content of your email and visuals is essential for subscribers to open it. Always write clear, engaging, and well-structured content that delivers on the promise made in the subject line and can encourage higher open rates.
- Subject Lines: Your email’s subject line is the first impression when you send it. A compelling subject line should be brief, suitable, and attractive without misleading.
2. Click Through Rates (CTR)
CTR is called the percentage of recipients who click on the apt links in your email campaign. It shows how engaging and relevant your email is to your audience. If you are getting high CTR, your target audience will find your email content valuable and will be willing to take action from your email.
You can calculate your email click through rates by,
2-5% is a healthy CTR for SaaS companies. If it’s lower, consider tweaking your email content, adding more compelling CTAs, or segmenting your audience better.
Look at these points to get a good CTR,
- Personalization: You have to personalize your emails to specific segments of your audience. That can be based on their preferences, behaviors, or demographics. You can also try using personalized greetings, offers, or content suggestions in your email campaign.
- Compelling Call-to-Action: Your emails every CTA must clearly communicate what action you want recipients to take. And make your CTAs prominent and compelling. You have to create an action-oriented language that encourages clicks.
- Clear and Concise Content: Write your email content in a way that is easy to read and understand quickly for your audience. You can add short paragraphs, bullet points, and headings to break up text.
- Visual Appeal: Add high-quality images, videos, or graphics that are visually appealing and suitable to your email message.
- Mobile Optimization: Make sure to design your emails to be mobile-responsive, as a significant portion of users open emails on mobile devices.
- Email Sending Times: You can test different times and days of the week to check when your audience is most likely to engage with your emails. Email timing can impact CTR, as emails received during active periods are more likely to be opened and clicked.
- Offers: Offer valuable content to your target audience. You can give them exclusive offers or promotions that your recipients can click through.
3. Bounce Rates
In email marketing, bounce rates are the percentage of messages that are not successfully delivered to recipients’ inboxes. There are two kinds of bounce rates in email marketing campaigns: Hard bounces & Soft bounces.
Hard bounces: These types of bounce occur when an email is permanently undeliverable. This can be removed from your list to maintain a healthy sender reputation. It can occur by,
- The email address has been closed
- There’s no domain name for the email address
- You’ve been blocked (by the recipient or their server)
Soft bounces: These types of bounces are temporary delivery issues. It comes with a full inbox or a problem with the recipient’s server. You can monitor them and remove those addresses that repeatedly bounce. It can occur by,
- Inbox is full and cannot accept the email
- There was a problem accepting the email because it was too large
- There was a temporary outage of the recipient’s email server
You can calculate your email bounce rate through this formula,
You can reduce bounce rates for your SaaS email marketing campaigns by,
- Cleaning your SaaS email list and removing unwanted addresses or subscribers
- Make sure to ensure subscribers confirm with their email address
- Always check your bounce rate and take action if needed.
4. Unsubscribe Rates
A high unsubscribe rate indicates your content is irrelevant or engaging to your audience. It also happens when you’re sending emails too frequently. It’s a clear sign that you must find a solution to your email strategy.
Calculate unsubscribe rates by,
Imagine sending 4000 emails, and 30 people unsubscribe afterward. The unsubscribe rate for your campaign would be 0.75%.
There are some reasons why your campaign got so much unsubscribers,
These are the tips to reduce the number of unsubscribes in your email marketing campaigns. Try these tips to maintain a positive relationship with your subscribers and improve the effectiveness of your email campaigns.
- Value with Every Email: Make sure each email offers something useful or interesting to your subscribers. You can add helpful tips, special offers, or product updates. Always keep your content valuable and engage your audience.
- Respect Their Preferences: Giving them control over their email frequency shows respect for their time and preferences, which can reduce unsubscribes.
- Personalize Your Messages: Segment your audience and send content that matches their interests and needs. These personalized emails are more likely to resonate and less likely to lead to unsubscribes.
5. Customer Lifetime Value (CLV)
Customer Lifetime Value is called the total revenue you can expect from your target customer over the entire period of your relationship. You can calculate CLV easily by going through some steps.
Understanding CLV helps you determine the long-term value of your customers and the effectiveness of your email campaigns in driving business revenue. It allows you to invest more strategically in acquiring and retaining customers. CLV also ensures that your marketing efforts contribute to long-term business growth.
Increasing customer lifetime value (CLV) through a well-crafted email campaign is a powerful strategy for SaaS businesses. It leads to increased revenue over time. Here are some key strategies to consider:
- Welcome Emails
Welcome emails are a customer’s first interaction with your business after subscribing or purchasing. So, these emails have to be warm, inviting, and informative. It shows the apt tone for what customers can expect from your brand and helps establish a positive relationship with your audience.
- Personalized Emails
Personalized emails help your customers deliver relevant content. This includes product recommendations, personalized discounts, or content that aligns with their interests. Personalizing emails leads to higher engagement and conversion rates.
- Create a Cart Abandonment Workflow
Cart abandonment emails target customers who have added items to their cart but still need to complete the purchase. These emails typically remind customers of the items left behind you can offer incentives like discounts or free shipping. This strategy helps recover potentially lost sales and convert interested browsers into buyers for your business.
- Re-engagement of Inactive Customers
Re-engagement emails aim to re-capture the interest of customers who last interacted with your brand a while ago. They could include special offers, updates on new products, personalized messages asking for feedback, or offers to assist with any issues.
- Post Purchase Engagement
Post-purchase emails keep the conversation going after a sale. It helps in enhancing the customer’s experience and encouraging repeat purchases. This include order confirmations, shipping updates, product care tips, or requests for reviews. These type of emails can increase customer satisfaction and you can build a stronger relationship.
- Create Referral Programs
Referral programs in email campaigns encourage existing customers to refer new customers to your business. These emails usually highlight the benefits of the referral program, such as discounts or rewards for both the referrer and the new customer. Referral programs can expand your customer base easily. It only needs a low cost and is effective as word-of-mouth recommendations.
Role of a SaaS Email Marketing Agency
Email marketing managing and optimizing them in the correct way can be complex and time-consuming for companies. This is where a professional SaaS email marketing agency can help you. An expert agency gives you as many benefits as possible and improves your email marketing success with a full professional touch.
- Expertise and experience in the SaaS field
- Professional tools and technologies as per clients’ niche
- Time and resource-saving
- Personalized email campaigns as per agencies
- Continuous monitoring and optimizing emails
growth.cx is the perfect saas email marketing agency that assists you in setting up the perfect email marketing plan. The professionals in this field understand the challenges and needs and work upon that. They create generic email marketing campaigns that are customized and tailored to align with your unique business.
growth.cx email marketing service offers,
- Email marketing strategy
- Email audit
- Email campaign setup
- Email automation
- A/B testing
- Email copywriting
- Content marketing
- Social media marketing
Our Expertise
At growth. cx, SaaS is a concept that sets us apart from other agencies. Our team understands the strategies and execution because they have years of experience. The team primarily focuses on B2B SaaS marketing and is trained in all the strategies focused on this niche.
- Customized Email Campaigns
growth.cx specializes in creating custom emails based on clients’ requirements. They assist clients in increasing their brand loyalty and conversion ratios. Through proper segmentation, automation, and personalization techniques, clients are well assured of a proper response from the targeted audience about the emails sent to them.
- Engaging Content
Our team develops excellent and attractive content for all types of emails. This engaging content aims to keep subscribers hooked. The expert content team will craft attractive and concise email content to get the message well.
- Best Technology
The agency uses advanced technologies to ensure that every email we send is delivered. They are keen on campaign performance and analyzing results to provide clear details on successes and opportunities for enhancements.
Conclusion
In conclusion, you will know the factors that will help you evaluate the results of SaaS email marketing campaigns. This process will ensure that they are on the right track toward achieving set goals for business growth.
Working with a professional SaaS email marketing agency can also assist you in targeting your efforts with advanced segmentation, automation, and personalized approaches. The team makes your campaigns enjoyable and efficient. Make sure to measure your email marketing campaigns to foster better customer interactions and drive the long-term success of your SaaS organization.
