Analytics! What could be more exciting than heaps of data that can tell you everything you’ve ever wanted to know about your cold email campaign? While endless insights might seem attractive, a lot of the data you collect is unimportant. In fact, less is more, when it comes to the metrics you should pay attention to. A lot of data seems important or gets a lot of buzz, but these are often just vanity metrics that aren’t that useful when it comes to making a significant change to the effectiveness of your cold email campaign. Rather than getting bogged down by mountains of statistics, here’s what you need to focus on:
The Top 4 Metrics to Know for Optimizing Your Cold Email Campaign:
1. Open Rate
Your open rate is the best indicator of whether your emails are getting opened, or inboxed, at all. If they aren’t, and they just get sent straight to spam, then all your writing efforts go out the window. There’s no room for starting a conversation or showing the recipient the brilliant ways you can add value to their lives if you don’t even make it into their inbox. Open rate is a metric to pay close attention to so you can make sure you’re actually getting in front of your reader’s eyes.
2. Adjusted Reply Rate
More than just your reply rate, your adjusted reply rate is a more telling metric that will give you far more insight into the success of your cold email campaign. Essentially, your adjusted reply rate looks at the number of replies you’re getting based on the number of people who actually open your message. The adjusted reply rate gives you a better indicator of how an email is performing because it looks at the number of opens as well as the number of replies. If 100 people open your email and 10 reply it’s a very different story than if 10 people open it and 10 reply.
The adjusted reply rate is especially important for A/B testing when you’re trying to gauge the success of two email variations because it lets you compare apples to apples.
3. Positive Reply Rate
Simply put, your positive reply rate is the ratio between positive and negative replies. This is a huge metric to pay attention to because it tells you both how good your list is and also how compelling your email value propositions are. Even the most successful campaigns might have a negative reply rate of 50%, but that’s nothing to be alarmed about. It’s more important to focus on how many positive conversations you can start with your campaign. Cold emails are all about positive interaction and opening a dialogue with your prospects, so this is a huge indicator of how successful your campaign is.
4. Bounce Rate
Your bounce rate is a big indicator of whether you’re a spammer and whether your emails get delivered properly or not. Aiming to keep your bounce rate under 5% is a sweet spot where you want to be so you can ensure that your prospects are getting your emails rather than having them land in their spam folder. Bounce rate is something important for both new campaigns and more established ones to look at to provide insight into how well your emails are performing after scraping and removing all the undeliverable or risky email addresses from your list. Tools like Brite Verify can help you to scrub your emails to make sure they get in front of your prospects.
There are plenty of other metrics that you can focus on, but if you really want to drill down to how successful your cold emails are, these four metrics are gold. If nothing else, look at these stats to determine how well you’re performing and to identify areas where you need to improve your emails so you can get the reads and positive replies your business needs to grow and succeed.