A great way to see how your email marketing is performing is to compare some key metrics to others in your industry. rezora offers reporting on several different metrics, and 2 of the most important numbers to look at are your open rate, and your click through rate.
What is an open rate?
Your open rate is the percentage of recipients who open, or view, your email.
What is a click through rate?
Your click through rate is the percentage of recipients who click on a link within your email.
What is the industry average?
We looked at several email-marketing reports for the real estate industry in 2016 and 2017. Open rates averaged between 17% and 20.8%, while click through rates fell between 2%- 6%.
How can I check my open and click through rates?
You can see your overall email marketing performance on your rezora dashboard, as soon as you log into your rezora account. You can see detailed statistics for certain marketing pieces by clicking on those completed marketing pieces when you’re in your Marketing Materials.
How can I boost my numbers?
We believe good open and click through rates depend on whom you’re sending to. Do you have an old list, full of random contacts all mixed together? Or do you send specific content to different lists, based on that list’s interests? You should be segmenting your audience based on their interests, and always keeping these lists up to date! Knowing who your email subsribers are and consistently building upon those lists is one of the best things you can do to improve your marketing reach.
Furthermore, you should make sure you’re sending at an appropriate frequency. Hubspot tells us that companies that send a total of 16 – 30 email campaigns a month tend to have the highest open rates. As an individual agent, you’ll have to consider different factors when it comes to your send frequency. How many emails is your company already sending out on your behalf, and how should you supplement those emails? Once again, the amount of emails you send to a contact will depend on which audience segment that contact fills into. If they’re a prospective buyer actively looking for a home, they’ll probably receive more emails than a past buyer who’s just looking for some more general updates.
Lastly, if you don’t grab your recipient’s attention with a good subject line, your email my simply get deleted while the reader clears out their inbox.
Once you’ve identified your open and click through rates, you can stack them against the industry average to get a sense of how your email marketing is performing. After that, you can start to evaluate the many other metrics that will give you even more insight into your emails’ performance, and start to boost those numbers to make sure your email marketing campaigns are working effectively and giving you the results you’re looking for!
