How To Measure Relationship Marketing
As you already know, Relationship Marketing goes beyond a simple “I want to get customers”, but rather is a “I want to attract them, get to know them, make them feel special and speak wonders of us”, in short: maintain a relationship with our clients, as if it were a love story In these relationships that we establish with our clients, we must have a roadmap, a defined strategy, as well as a set of orchestrated actions in order to achieve our goals and, above all, have clear which indicators we must monitor closely to see if our plan is working.
As one of the most powerful tools of Relationship Marketing is Email Marketing (since you can communicate directly with your clients) and, in addition, it is highly customizable, we will see what specific indicators we must take into account so that our plan goes smoothly:
Database Evolution :
Once we have generated a solid, enriched and well structured database with the captured users, we must know how it is responding. That is, how many new users are we gaining every day and how many are we losing. We must be aware that the databases “are alive” and we will lose users as we recruit new ones. Relationship Marketing evolves and became more powerful tool.
The bounce rate measures the volume of emails that could not be delivered to the recipient and is returned to the sender’s server. There are two types of bounce:
- The hard bounce , which collects the definitive bounces, for example, that the email address does not exist or it is a non-existent domain.
- On the other hand, the soft bounce . Considered a temporary or reversible bounce, it can be due to the user having a full inbox or because the receiving server does not have enough space at the moment.
You need to keep a close eye on the bounce rate as we may have deliverability issues. Having high bounce rates can mean that email managers identify as alerts that we are sending without having our database optimized and clean of invalid email addresses, and limit the deliverability of our emails.
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Open Rate (OR):
First of all, in case there is someone clueless in the room .What is the Open Rate or OR? The OR is The opening rate of our emails is the percentage of users to whom we have sent a message and who have opened it. Analyze this rate and having a good result, it is essential to know , first of all, if we are working the issues well , are we being differential? Do we generate interest? and, secondly, if users have an interest in our brand.
Keep in mind that the OR can vary greatly depending on the type of sector or business (an ecommerce retailer is not the same as a B2B business) as well as the type of delivery (newsletters, automatic emails, offers, etc.)
Click Rate (CR):
The click rate of our emails is the percentage of users who have clicked one or more times on the email they have received. Therefore, it is the metric that will tell us if the content that we are sending is really of value to our users and generates interest. As with the open rate, a good click rate will vary depending on the sector, the type of message, etc.
Click Through Open Rate:
Or “reactivity rate” is the percentage of users who have made a click interaction on the number of users who have opened the email, this time, the rate is calculated on the users who have already opened the email and not on the who have received it.
Conversion To Sales:
The final objective, the benefit that our strategy brings us. This rate measures the volume of users who have reached the conversion through our email campaigns (understanding conversion as generating a sale). The higher the rate, the better the performance of our relational strategy.
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