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It depends on the software.
Most tracking software can show you visitors that came from web-based email providers such as yahoo email or AOL web email. But most web analytics software cannot read and track visitors from email clients such as Outlook and Eudora and simply lumps these visitors as Others (or however the web analytics software defines it to be)
There are however some web tracking software that can tell you if the visitor comes from an email marketing campaign,
Google Analytics, for example, allows you to track if the visitor comes from an email marketing campaign — IF you actually put a tracking code in the emails that you sent. http://www.google.com/support/googleanalytics/bin/answer.py?answer=55540&query=email+campaign&topic=&type=
Yes, if the recipient’s email software displays images within the message, or executes scripts; otherwise, only if the consumer takes some action such as clicking on a link in the ad.
The most common strategy is a "web bug," where the ad loads an invisible 1×1 image; the request for that image includes a code that identifies the email address to which the email was sent. (For example, if someone sends me an email, they might identify me as #1050609, and the image request might load the file "zimage.php?u=1050609" which tells the marketer when I’ve opened the email.)
Note that this tracking requires some amount of pre-planning, and requires that each email be created separately with a unique ID embedded in the image requests and/or links. This is NOT something you can do just by sending a bulk email and then checking your log files, or using an analytics program.
Yes, very simply use a special URL for the email campaign. Evaluate web logs to determine any traffic coming in through that page likely comes from the email campaign.
Another effective way to track sales, is to use a coupon code, the visitor has an incentive to enter the coupon (the discount) and you will have an idea of effective email conversion.