Lately I have been exploring the idea of launching a new product or service. In my quest for ideas and supporting data to provide me with a picture of what this could look like, I am going to use my email marketing provider, Mail Chimp, to provide me with some information.
What I’m looking for:
#1. What emails have the highest open rate. This will help me understand the pieces of content that really brought my readers the most value or they were the most interested in.
#2. What emails have the lowest open rate. Tear. Nah, this is just as valuable information.
#3: What links in all the emails had the highest click rates. Meaning, of all the links I included in my emails – which had the highest click through rate. This information truly will tell a story of what content impacted the user and led them to take action.
Now, be aware that when you are pulling reports and looking at your email delivery information you can’t definitively prove just through open rates why a reader opened your email.
The email headline, time of day sent, along with other variables play into this. But like I said earlier, I want to gain some breadth on the emails that performed well.
Let’s get started!
First, head to your email marketing provider. I use, love and recommend Mail Chimp.
Once you are logged in, head to your reports section.
Here you see your reports dashboard. You have some options to run different kinds of reports, but for me I just selected “download all reports” and will do the data filtering in excel.
Now because this is just basically a brainstorming session and not a full blown analysis of how my emails are performing, I went ahead and hid all the columns except for the email name and open rate. I just want to get a broad picture of what content my readers seemed to enjoy.
Here we see my emails that performed the worst. A 75% open rate vs. 24% is a huge gap. But keep in mind that when your list has 4 people, it only take 3 people opening it to make 75%! That’s not what happened here, I swear!
Okay, so we saw which emails were opened the most, and which were opened the least.
Let’s peruse my “click rate” numbers. Click rate simply means that someone who read my email clicked on one of the links contained.
Now a bummer about using the “download all reports” option from Mail Chimp is that you can’t see what the links were that the reader clicked on. You can access this by finding the campaign on your reporting dashboard (in Mail Chimp at least) and by selecting “view report” you can get all that data.
This was a great exercise for me. First of all, it reminded me of just how much content I have created that my audience found valuable. At the end of the day, that’s what it’s all about. Sharing information to help others achieve their business and entrepreneurial goals.
Second, I received a great overview of the email content that performed really well, and that which did not. It’s a great jumping off point for me to conduct a more in-depth analysis of what subjects I may want to break out and explore in order to create new services and/or products for my audience.
It never is a surprise that Facebook is of immense interest to those looking to start or grow their business.
Probably wouldn’t hurt to start there and funny thing…I have two Lynda.com courses coming out June 2016 that covers Facebook Advertising Fundamentals and Advanced Facebook Advertising. Woohoo! Head to my author profile for more info.
Hope this makes sense! Let me know if you have any questions or comments – I’d love to hear how your emails are performing…
I truly believe that some of us are simply not built for 9-5pm work.
I cringe when I hear people say the word, “boss”. And I cringe even more when they go on to describe what a colossal a**hole their boss is. Why is it that most bosses seem to be jerks?
I suspect it has less to do with the person and more to do with working a job that makes you miserable. But it’s still fun to swap nightmare boss stories, right!?
I have bucked the salaried, 9-5 trend for as long as I remember now. But I still vividly remember my boss back in the early 2000s. And he certainly was (and I’m sure still is) a colossal a**hole. Plus I simply wasn’t fulfilled by the work I was doing so perhaps the problem was me…
So I guess that question is, aside from working for and with people that don’t inspire you, are you doing work that you love?
I think the world would be a whole lot happier and fulfilled if everyone did at least a little bit of what they loved.
Listen, it doesn’t have to be all rainbows and butterflies.
Running a business or consulting practice where you see the difference you make in your clients’’ lives is beyond fulfilling. But that still means there is the other side — the stuff you don’t particularly enjoy. For me it’s the bookkeeping, sending of invoices, and other administrative duties. And no, I’m not a big believer in outsourcing all the things you hate doing. See, those duties still bring me fulfillment because they make what I do possible.
I really am obsessed with this idea that everyone has a something to teach and this can be created into a kickass online business. And the guy to get you there is Ramit Sethi, author of the book, “I Will Teach You To be Rich”. I have followed his blog for years now and his program, Zero to Launch is super intriguing.
The reason why I searched it out? Lately I have been struggling with choosing an idea. I am getting bogged down in the brainstorming and overwhelmed by all the possibilities so I continue to stick with what I know and what I have always done. This is exceptionally frustrating since this has never really been something I struggled with.
If anything I was the opposite – an idea strikes and I’m already launching! So I believe this exercise will help me find a more efficient middle ground.
I’m excited to overcome the decision paralysis and discover perhaps an additional service, a new product or heck, even a brand new business to work on.
I honestly don’t know if I’ll sign up for the Zero to Launch Program (sorry, Ramit – I have commitment issues!) but…I have watched the idea mapping video on the resource page and filled out the worksheets and LOVE the process Ramit has developed. It certainly has got the old wheels turning once again.
For anyone interested, below is what I came up with in my first idea mapping session. For some reason it was like pulling teeth – it’s harder to come up with a list of what you’re good at vs. what you think is a good business idea!
So, are you next? Head here to learn more about finding a profitable business idea and let me know how it goes. Also, if I know you and you need some help coming up with what I think you’re effortless at or excel at – give me a shout!
Happy idea mapping…
P.S: I’m not getting paid for any endorsement, LOL. But maybe I should add “great at finding free and amazing business building resources” to my idea mapping list…
Idea Mapping Video + Checklist for Finding Profitable Business Idea
I Will Teach You To Be Rich Blog
Zero to Launch Course
Meg the Media Maven Facebook Page (head here to share your idea mapping!)