I love email marketing. It’s one of the most effective tools in the modern library marketer’s toolbox. Emails are a direct way to interact with your cardholders and your community. They are easy to create. You can share stories, collection items, explain new services, and promote events directly with your audience. And library cardholders love getting emails from us. We don’t have to worry about unsubscribe rates the way other industries do.
Many libraries are now emailing their cardholders. And they’re reporting success with those campaigns. I’m so happy! But I’m also worried about something I hear often in conversation with other library marketers. I’m worried that we’re focused on the wrong measure of success–open rates. I’ve attended two events with other library marketers this summer. At both, there were deep and interesting discussions about success in email marketing. But at both events, the conversation about success centered on how to raise open rates.
Now, I have a confession to make. When I started targeted email marketing back in January of 2015, I was obsessed with my email open rates. And so were thousands of marketers in industries across the world. During my first trip to Content Marketing World, I attended several sessions on email marketing and every speaker mentioned open rates as a measure of success.
Open rates do mean something. They are a sign of customer loyalty. A high open rate means that your cardholders are eager to see what you’ve sent them. And that’s good. But it’s kind of like buying a house because it’s got a beautiful exterior. You may sign all the paperwork, open the front door and find all the walls are unfinished! Open rate is a vanity metric. It makes you feel good. But it’s what happens AFTER your cardholders open your email that counts.
I’m not suggesting you ignore open rates. They do give you information you can use to improve your emails. If your open rates are high, and your click-thru rates are low, you can be certain that you are writing compelling email subject lines (Good job, you!). You have a loyal and eager audience. But the content you are sending to your cardholders isn’t what they want. Now you can fix that problem!
Keep tabs on your open rate. But you should focus on two other valuable ways to really measure the success of your emails.
Click-through rates: The higher this number is, the more excited I get. It means that my cardholders opened an email, saw something they liked, and took an action! Most of the time, my library emails direct cardholders to do one of two things: click a link for a specific item in our collection or go to the event calendar where they can register or put an upcoming event on their calendar. Convincing a cardholder to take one of those actions is a huge victory. It also gives me data about what that particular cardholder is interested in. And I can use that information to craft future emails that are also compelling for that cardholder.
Conversion rates: A conversion rate is the most accurate way to measure email effectiveness. It is the percentage of people who take an action after clicking through an email. For example, let’s say 100 people click-through to look at a book I’ve promoted by email. If 50 of those 100 people put the book on hold, my conversion rate is 50 percent. Once I know what my average conversion rate is for a certain type of email, I can set goals to raise that conversion rate. I can accurately compare my emails to one another. I might see a high conversion rate for a certain genre of book and look for similar books to market to that cardholder. I might notice a spike in registration rates for a particular kind of program coming from an email and look for similar kinds of programs to market to my cardholders. Conversion rate is the most accurate measurement for determining the likes and dislikes of your cardholders.
For more on tracking the success of your email marketing, you can also read this article. And if you want to learn more about targeted email marketing and get more secrets for library email success, don’t forget the free webinar!
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