Here are three things you need to consider:
1. Increase in Email List Size: Have you experienced a significant growth in your email list? If so, be mindful that privacy features implemented by Email Service Providers (ESPs) might inaccurately track open rates, potentially inflating them. Despite efforts by ESPs to address this, it may still impact your open rate metrics.
2. New Lead Generation Channels: Have you recently introduced new methods for generating leads? If yes, it’s plausible that the quality of leads being generated is lower, thereby contributing to a decline in your click rate.
3. Changes in Subject Lines or Email Copy: Have there been modifications to your subject lines or email content? Such alterations could be influencing your click rate.
By addressing these aspects, you can better understand why engagement metrics are not translating into leads and make informed adjustments to your campaign strategy.