Every month, we send out campaign reports to our mortgage email marketing clients. It shows them valuable info like how many people opened their email, who opened it, what links they clicked, on what devices they read it, and more.
This last month a few of my clients responded to the email and said, “Is this good or bad? How are my email statistics compared to others?” What an excellent question! Many of the large email newsletter companies like Mailchimp compile benchmark lists based on industry and a few other factors. To help you come to grips with how well your email marketing might be doing compared to the industry average, here’s some information on email marketing statistics for the mortgage industry.
Mortgage Email Marketing Statistics by Mailchimp
Mailchimp keeps some pretty good benchmark data over on their website. They list out six criteria for each of the industries they track, which are:
- Open – duh
- Click – double duh
- Soft Bounce – email didn’t go through but a temporary problem (server down)
- Hard Bounce – email didn’t go through and a permanent issue (email doesn’t exist)
- Abuse – you are spam!
- Unsubscribe – i don’t want this anymore
I’m making an assumption that mortgage companies would fall under “Business and Finance”. The benchmarks listed for the six criteria above are:
- Open – 20.68%
- Click – 3.14%
- Soft Bounce – 1.18%
- Hard Bounce – 1.09%
- Abuse – 0.04%
- Unsubscribe – 0.24%
Overall that’s not too shabby. Some people might say that only 20 percent of your list seeing your email is pretty bad, but I think getting one out of every five people in your database to do ANYTHING is spectacular. And judging by the statistics from this website (hat tip to you), it’s not going to die anytime soon.
Mortgage Email Marketing Statistics by Campaign Monitor
Campaign Monitor is another email newsletter company that sends out a gazillion emails a year, so they’ve got a pretty good handle on mortgage email marketing stats. In doing some research on their website, I was able to compile four of the same statistics from Mailchimp, but only open and click rates are industry-specific. Let’s have a look:
- Open – 22%
- Click – 3.3%
- Abuse – 0.3%
- Unsubscribe – 2%
I was a little surprised that their Abuse and Unsubscribe rates were so much higher than those stated by Mailchimp, yet those statistics do fall more in line with what we see at Top Left Creative.
Mortgage Email Marketing Statistics by Top Left Creative
Looking at these statistics and trying to answer the question of our clients got me wondering, “how well are our clients doing with their email marketing?” So, I opened an excel document and averaged out our mortgage client’s email newsletter statistics.
Let me tell you, I was quite surprised (and impressed). Our open rates and click rates are CRUSHING the stats listed above. Let’s have a look:
- Open – 35.47%
- Click – 7.8%
- Bounces – 3.28%
- Abuse – 0.08%
- Unsubscribe – 1.26%
Our client’s experience an average open rate that’s a whopping 71.5 percent better than the Mailchimp average and an average click rate is 148.4 percent better than the Mailchimp average.
So there you go. Hopefully you’ll now have a better understanding of how your mortgage email newsletters are performing.