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Email Newsletter Metrics For SaaS Businesses In 2024
Leverage Data-Driven Insights and Optimize Your Newsletters
Lauren Haas
April 13th, 2024
As a SaaS business, you have a unique relationship with your email list.
Some of them are regular users of your app, while others have been curious enough to download a trial at some point but may still need to be regular users.
Your newsletter is the single best way to train your users, educate them about new features, and persuade them of all the benefits of using — or continuing to use — your software. But how do you know whether your newsletter is effective?
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That’s why tracking your newsletter’s metrics is vital. Your metrics provide valuable insights into the performance of your campaigns, allowing you to measure their effectiveness and make data-driven decisions.
By analyzing key metrics such as open rates, click-through rates, conversion rates, and subscriber growth, SaaS businesses can gain a deeper understanding of how their newsletter topics are resonating with their target audience. Let’s dive in and learn about the metrics you should be watching.
What Metrics Should You Track with Email Marketing?
Tracking the right metrics will tell you a complete story about how your newsletter is doing. You’ll learn whether people are eager to read it, which topics they’re engaging with, and how healthy your sales efforts are.
Open rate: The percentage of recipients who open your email newsletter will tell you how healthy your list is and which subject lines your readers find most engaging.
Click-through rate (CTR): The number of subscribers that click on links within your newsletter, and which links they click on tells you the specific topics they find most intriguing and want to learn more about.
Conversion rate: The percentage of subscribers who take a desired action after clicking through your newsletter tells you how convincing your call-to-action is and whether your audience is interested in the specific upgrades and add-ons you’re offering.
Bounce rate: The percentage of emails that were not delivered successfully to recipients tells you how clean and healthy your list is.
List growth rate: Over time, the growth or decline of your subscriber list indicates general interest in what you’re offering and tells you whether your list growth efforts are working.
Tips for Optimizing Email Newsletter Metrics in 2024
By constantly optimizing your email newsletter metrics, you can ensure that your newsletters deliver the desired results and drive engagement with your audience.
Personalize your content: Use segmentation and dynamic content to deliver personalized experiences that resonate with each recipient. For example, send one version of your newsletter to people who recently downloaded a free trial and a different version to your long-term users.
Optimize subject lines: Experiment with different strategies such as using emojis, promising results, asking questions, or creating a sense of urgency. Stories about your successful SaaS users and their most impressive results also make great subject lines.
Focus on mobile responsiveness: With an increasing number of people accessing emails on their mobile devices, your newsletters must be optimized for mobile viewing. Use a simple, one-column design that is responsive and easy to navigate on smaller screens.
A/B test elements: Experiment with different aspects of your newsletters, such as subject lines, call-to-action buttons, images, colors, and layouts. Conduct side-by-side tests to determine which variations perform better in terms of click-through rates and conversions.
Monitor deliverability rates: Keep a close eye on your email delivery rates to ensure your newsletters reach the intended recipients' inboxes rather than being flagged as spam or bouncing back.
Analyze engagement metrics: Regularly analyze metrics such as open rates, click-through rates, conversion rates, and unsubscribe rates to gain insights into how well your newsletters are performing. Identify trends or patterns that can guide future optimizations.
Test send times: Experiment with different send times for your newsletters based on the behavior patterns of your target audience. Test sending emails during different days of the week or at specific times during the day to determine when you achieve the highest engagement.
Cleanse your list regularly: Removing users who aren’t receiving or opening your emails will help boost all your numbers and also goes a long way toward improving your reputation as a sender — which helps keep your messages out of spam folders.
By implementing these tips, you can optimize your email newsletter metrics and drive better results in 2024. Remember to continually monitor and adapt your strategies based on the feedback and data you gather to ensure ongoing success with your email marketing efforts.
What is the Open Rate for Emails in 2024?
The overall open rates in 2023 stood at 38.7%, a slight drop from the 42.9% recorded in 2022 at beehiiv.
As the newsletter landscape expanded in 2023, attracting a broader audience, open rates dipped further, due to heightened competition.
With more individuals entering the newsletter scene, distinguishing your content within a specific niche becomes crucial for maintaining engagement and standing out amidst the competition.
To consider yourself successful, you want to beat the averages. Some of beehiiv’s most successful creators, like Jennifer Chou, are constantly testing different phrases and even emoji colors to boost their open rates high above average.
Why Trust Us?
Lauren Haas has a long history in email and content marketing, and she writes regularly about the topic for beehiiv and other industry leaders and manages email newsletters for clients at her boutique marketing firm, Main Street Marketing Mix.
What Is a Good Click Rate for Email Newsletters?
The average click-through rate for newsletters was 1.8% in 2023. Anything above average could be considered good, but most creators look for numbers that approach double the standard as a measure of success.
Using Metrics to Succeed With Your SaaS Newsletter
As a SaaS business, you need to constantly educate your users to ensure they get the most value from your software. Your newsletter is the best method for accomplishing that — but only if people open it.
By tracking your metrics, you’ll learn which subject lines capture your readers’ attention, what content they engage with, and what topics they’re interested in learning more about.
If you’re creating your newsletter on beehiiv, you’ll find all these metrics and more built into your dashboard. The beehiiv platform is built to help you drive growth and engagement to help your SaaS business thrive.
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