In this Eloqua Analytics blog series, we will discuss about Eloqua Insights and how to leverage it for data driven marketing.
Eloqua Insight Resource Center mentions “Eloqua Insight is a powerful revenue analytics tool for marketers that integrates data from social media, email, website, and the sales pipeline from your CRM to help connect the dots, close the loop and make decisions that drive revenue.” In context of email marketing it means it is important to focus on campaigns generating the most pipeline, revenue and return at a glance. We need to know exactly what the return on marketing is by email campaign or campaign type, so we have the insights to know which campaign to cut – and which to keep. We need to invest more in high performing campaigns and analyze low performing campaigns. An important point to note: In Eloqua9 there are about 900 different reports which caused confusion for some clients. In latest version of Eloqua, Eloqua10 simplifies the process by providing you with a smaller number of broader reports with powerful customization tools which allow you to tailor reports to meet your needs eloqua9 reports.
Understanding marketing impact starts with basic engagement metrics such as e-mail open and click rates, form conversion rates, and website and landing page visits. Eloqua Insights has more than 400 KPI’s listed in Eloqua Insight Data Model. Let us look at the Glossary of basic KPI in Eloqua Insights.
|Total Delivered||Emails Sent – Hard Bouncebacks – Soft Bouncebacks|
|Total Opens||Number of times the Email was opened|
|Total Clickthroughs||Number of times a specific link was clicked through|
|Click To Open Rate||Number of Unique clickthroughs / Total Open Emails|
|Existing Visitor Clickthroughs||Clickthroughs by contacts who were already visitors in Eloqua (i.e. had previously visited a tracked page or clicked through on a link).|
|New Visitor Clickthroughs||Clickthroughs by contacts who are new visitors in Eloqua (i.e. had never visited a tracked page or clicked through on a link).|
|Total Form Submissions from Email||Total number of Form submissions that came from an Email|
|Form Conversion Rate from Email||Number of Form submissions/Total Emails delivered|
|Possible Email Forwards||Number of Emails that were possibly forwarded by the recipients|
|Possible Forwarders||Number of recipients that possibly forwarded the Email|
|Possible Forward Rate||Possible Forwarders/Total Emails delivered|
|Total Bouncebacks||Number of Emails that were recorded as a Bounceback (hard or soft)|
|Bounceback Rate||Number of Unique bouncebacks/Total sends|
|Total Hard Bouncebacks||Number of Emails that were recorded as Hard Bouncebacks.|
|Hard Bounceback Rate||Unique Hard Bouncebacks/Total sends|
|Total Soft Bouncebacks||Number of Emails that were recorded as Soft Bouncebacks|
|Soft Bounceback Rate||Unique Soft Bouncebacks/Total sends|
|Unique Opens||Number of contacts that opened the Email|
|Unique Clickthroughs||Number of contacts that clicked on tracked links in the Email|
|Unique Open Rate||Number of contacts that opened the Email / Total Emails Delivered|
|Unique Clickthroughs Rate||Number of Unique Clickthroughs/Total Emails Delivered|
We can leverage above basic KPI for improving email experience for consumers by doing analysis such as below:
I am a big fan of segmentation and testing and above are few ways to improve customer experience using email Analytics. Much more can be achieved by looking at other revenue KPI’s available in Eloqua Insights.
In the next part of this blog series we will discuss revenue metrics from Eloqua Insights and how to leverage them for data driven marketing.
Share your thoughts on above if it is helpful or how you have been leveraging Eloqua Analytics & Insights for improving your marketing efforts.