I have a habit of stirring the pot.
Measuring Click-Through Rate (or CTR) is dumb.
It is a bold statement, Cotton. But let me explain myself here:
I have two things that are much better than measuring boring old CTR. The new days of email marketing analytics are upon us ladies and gentleman!
And it’s my job to bring you the newest, best methods to bring you them.
1. Forget CTR, Measure CTOR.
There is a new measurement that is much easier to understand that click-through rate, and that’s click-to-open rate (or CTOR).
First, let’s delineate what click-through rate actually means:
Click through rate is the percentage of people who click a link in your email out of the list you mailed to.
So if you sent to a list of 100 people, and 10 clicked on a link in your email, your CTR would be 10%. Cool right? Ehh, I guess so.
But there’s one thing it doesn’t do, it doesn’t tell me how many people clicked out of the people who actually opened the email.
See – I don’t care if someone who didn’t open my email didn’t click it, I already knew that! They have to open it to get to the click anyway, so we should just automatically weed those people out of the criteria when determining that percentage, right?
Well, it seems whoever created Click-Through Rates didn’t do that, so someone else came along and said “you know what, let’s base CTR on the people who actually opened our email” – and thus, the magical CTOR was born.
While technically you could get the percentage of CTOR by measuring both the open rate of the email, and the CTR of the campaign – why should you have to manually calculate that? Most email marketing service providers are opting to put in CTOR, so start to use it because it’s going to tell you in realistic terms, out of the people who opened your email (E.I. Anyone interested), who actually took action and who didn’t.
But who cares who clicked on my link anyway, right? The question at the end of the day is:
2. How much did that email make me in sales?
That is the Macdaddy of Macdaddy questions – and most people have no earthly idea how much revenue their emails generate.
Well here at CG Marketing Automation, that’s one of the FIRST things we set up with our clients.
Here’s how to do it.
1. Create a google analytics account and link it up with your website or wherever your driving people on your email.
2. Next, set up conversion tracking and put the conversion tracking pixels on the Thank You pages of any order form or anything where they are processing payment.
I’ll link up some step-by-step tutorials I found on the top pages of Google for both of these.
Because they land on the Thank You page – they can obviously only get there by purchasing a product, right? Right.
So you have a specific link you put into your email link, and when it hits that thank you page, the google conversion tracking pixel will fire and say “Yo! That guy bought the product you wanted him to buy” then it will put it all in a nice pretty report in Google Analytics and you can see how much money your emails actually made you.
Pretty cool, right?
Now if your thinking “Chet that doesn’t really make any sense I don’t understand all this tech stuff” then go check out our Marketing Automation Demo at http://CGMarketingAutomation.com/Demo
We explain the concept of tracking, analytics, pixels, and other cool marketing automation things – all in layman terms. So even if your not a tech wizard, even if you just know how to get on the internet and check your email, you’ll be able to understand how this stuff works.
And there’s also a bunch of cool concepts you can use in your business to save time and make money, so it’s really a win/win for you!
That’s it for this post guys, I’ll talk to you very soon!
That’s all for this post, see you soon!