Email marketing has been around since the early days of the internet, and it is still one of the most effective ways to reach out to potential customers. Every year, marketers look for new ways to optimize their email campaigns and achieve better results.
What will be the critical email benchmarks for 2023? Let’s take a look at some of the key metrics that will help you measure your success.
Open Rates
Open rates are one of the most important metrics regarding email marketing. This metric helps you measure how many people have opened your emails and taken notice of your message. Pay attention to industry-specific open rate numbers to ensure that you reach your target audience effectively.
For example, according to research by Mailchimp, the average open rate for eCommerce emails in 2021 was 28%. This means that if you can get your emails opened at a higher rate than this benchmark, your emails are performing well above average. On the other hand, if your open rates are lower than 28%, you need to adjust your strategy and find ways to increase engagement with your emails.
Click-Through Rates (CTR)
The click-through rate (CTR) measures how many people clicked on links or took action after opening an email. Your CTR indicates how successfully you engaged with readers and got them interested in what you had to say. A good CTR means people read and interact with your message meaningfully—precisely what you want from any email campaign.
In 2021, Mailchimp reported an average CTR of 3% for eCommerce emails—a number that should also serve as a benchmark for 2023. If you can get more than 3% of readers clicking through or taking action after reading one of your emails, you know that they found something valuable in your message and responded accordingly.
Key Email Marketing Benchmarks by Industry for 2023
E-commerce
Open rates of 23%, click-through rates of 4%, and conversion rates of 0.7%.
Retail
Open rates of 22%, click-through rates of 4%, and conversion rates of 0.5%.
Finance/Insurance
Open rates of 16%, click-through rates of 2%, and conversion rates of 1%.
Technology
Open rates of 15%, click-through rates of 2%, and conversion rates of 0.5%.
Education
Open rates of 13%, click-through rates of 3%, and conversion rate of 1%.
Healthcare
Open rate of 17%, a click-through rate of 2%, and a conversion rate of 0.5%.
Travel/Hospitality
Open rate of 19%, a click-through rate of 3%, and a conversion rate of 0.3%.
Nonprofit
Open rate of 18%, a click-through rate of 2 %, and a conversion rate of 1%.
Manufacturing
Open rate of 13 %, a click-through rate of 2 %, and a conversion rate of 0 .8%.
Real Estate
Open rates of 16%, click-through rates o f2 %, and conversion rates of 1 .2%.
Media & Entertainment
Open rates of 17%, click-through rates of 3%, and conversion rates of 0.7%.
Government & Military
Open rates of 14%, click-through rates of 2.5%, and conversion rates of 0.8%.
Telecommunications
Open rates of 18%, click-through rates of 2.5%, and conversion rates of 0.6%.
Agriculture
Open rates of 14%, click-through rates of 2%, and conversion rates of 0.9%.
Construction
Open rates of 15 %, click-through rates of 3%, and conversion rates of 1%
Email marketing is an essential part of any business’s digital strategy today, and it’s important to stay informed about current benchmarks to ensure your campaigns are running efficiently.
In 2023, all marketers should keep track of their open rates, click-through rates (CTRs), conversion rates, and other KPIs when assessing the success of their email campaigns so that they can make data-driven decisions about future strategies.
By staying up-to-date on industry standards for each respective sector, businesses can ensure that their efforts lead them toward higher returns and stronger customer relationships over time.
Bonus Tips: Make things easier on yourself … and increase ROI. Make sure you’re using automation tools whenever you can, including as part of your email marketing. Read this article to learn more about automation.
And listen to the podcast episode below for advice on creating clear content that not only converts but also builds long-term value for your brand.