The Role of Email Metric Benchmarks: A Balanced Approach

When it comes to evaluating your email marketing performance, there’s value in both industry benchmarks and your own internal metrics. Industry benchmarks help you get a sense of what’s happening across the landscape—essentially, they set the bar. But comparing year-over-year or quarter-over-quarter performance within your own organization? That’s how you measure actual progress. 

The catch is that relying too much on one without the other can lead you astray. Let’s talk about the challenges of both and how to get it right. 

The Real Deal with Industry Benchmark Reports 

Industry benchmarks exist to give you a baseline. They show whether your performance aligns with other businesses, but here's the rub: not all benchmarks are created equal. You’ll come across dozens of reports every year, and their numbers won’t always match. 

Why? Because these studies are based on data from the tool provider’s customers. That means you’re often comparing apples to oranges—what works for their audience might not apply to yours. You’ll also see a mix of B2B and B2C data, plus businesses of all sizes. So, if you focus exclusively on industry benchmarks, you might get a skewed view of your performance. 

Here’s my approach: I never rely on just one study. I don’t trust any single report by itself. Instead, I look at three to five studies to get a broader perspective and average out the findings to create benchmarks that actually mean something. 

Why Benchmarking Against Yourself Isn’t Enough 

Measuring your own performance over time is crucial. It shows whether your efforts are moving the needle. However, if you focus solely on internal metrics, you risk missing larger trends. 

For example, what if your click-through rates are consistently lower than the industry benchmarks? You might be dealing with underlying issues like deliverability or audience fatigue. Ignoring industry data could create blind spots that cost you revenue. 

My Hybrid Approach 

Here’s what I recommend: use both internal and external benchmarks to set realistic, meaningful targets. Industry benchmarks give you the "what," but you need to evaluate them alongside your internal data and, more importantly, your buyer’s journey. Let’s dive into the metrics I’m currently using. 

2024 Email Marketing Benchmarks I’m Using 

As of mid-2024, these are the benchmarks guiding my email marketing strategy. I pull these numbers from a variety of trusted sources, including WebFX, Mailchimp, Mailmodo, and Constant Contact. Since Tegrita works closely with industries like Manufacturing, Financial Services, Healthcare, Technology, Software, and Food & Beverage, I’ve focused on these sectors. 

Conclusion: Benchmarks Are Just a Starting Point 

Whether you’re using industry benchmarks or measuring internal performance, both should be viewed critically. They are tools, not the end-all, be-all. The key is using them in tandem to guide your strategy. And always remember: the real value of email is in how it drives your prospects from curiosity to action.