It seems that eCommerce is bigger these days than it has ever been, with more and more businesses having had to turn to online sales as a way of staying afloat during the pandemic.
For those still struggling in a new space, or for established eCommerce companies that want to boost their revenue, there is one marketing technique that you can always rely on: email.
Email is one of the most effective forms of digital marketing there is, which is why it remains among the most popular for businesses and consumers alike.
72% of customers prefer businesses to use email as their primary form of communication (according to Marketing Dive), which is good news for digital marketers, who can see up to a 760% increase in ROI (LyfeMarketing) with the right email marketing strategy.
But, is your email marketing strategy that effective? Your eCommerce email conversion rates can tell you.
What Are eCommerce Email Conversion Rates?
Basically, eCommerce email conversion rates are stats that offer businesses an insight into how well an email campaign or flow is performing.
By measuring your conversion rate, you can see how many recipients carry out the desired action as a direct result of an email they’ve been sent.
So, if you want your consumers to complete a purchase when they get one of your company’s emails, your eCommerce email conversion rates can tell you what proportion did.
By keeping track of your conversion rates, you can better gauge the success of your email marketing strategy. Do so, and you’ll be in a far better position to make necessary changes to any campaigns or automated flows that are underperforming.
As a point of reference, eCommerce email conversion rates tend to average out at around 15%, which is higher than the standard 10% conversion rate attributed to many other digital marketing channels. So, if yours are consistently much lower than that, it’s time to do something about it.
How to Improve Your Email Marketing eCommerce Conversion Rate
There are a few tried and tested ways of boosting your conversion rates, including:
Automations allow businesses to send out their perfectly crafted emails at the perfect times. So, if you know your audience is most active or responsive at a certain hour, automations can make sure your emails reach them at that time.
It also helps if the emails you send out are personalized. More and more people these days expect a tailored online shopping experience. So, ensure that every email includes the name of the customer that receives it.
Time and time again, this technique has been found to increase customer engagement and, in turn, improve your email marketing eCommerce conversion rate.
Why not take things one step further, by segmenting your audiences. That way, your customers will only ever receive content that is relevant to them, making it much more likely that they’ll want to open your emails when they land in their inbox.
A lot of eCommerce companies do this using demographic data, but past purchases and consumer behavior can often be more effective.
Each one of these approaches can help you boost your email marketing eCommerce conversion rate, because they make emails far more appealing to consumers. Combine them all together into a single, cohesive digital marketing strategy for optimum results.
How to Measure Your eCommerce Email Conversion Rates
Measuring your conversion rate isn’t that hard when you know the basic formula. And, it’s important that you know how to do it if you want to maximize the success of your email marketing strategy.
All you have to do is take the total number of conversions from an email campaign and divide that by the number of emails that were sent to recipients.
As an example, if you set up an automated flow of well-segmented, personalized emails to send out at the perfect time, you might find that 150 recipients go on to make a purchase out of a total of 1,000 that received the email.
So, simply divide 150 by 1,000, and you’ll get 0.15. Then, to turn this into a percentage, multiply 0.15 by 100.
150/1000 = 0.15
0.15*100 = 15
Using this calculation, you’ll see that the example conversion rate is a solid 15%.
However, if yours tends to be lower, there is plenty you can do to improve your eCommerce email conversion rates. From automations and segmentation to personalization, there are a lot of options available to you if you want to push your conversion rate through the roof.