Email marketing is one of the most powerful tools in your digital marketing arsenal — but only if you know what’s working as well as what’s not. Without tracking the right KPIs, you’re essentially sending emails into the void + hoping for the best.
To make data-driven decisions and refine your strategy, you need to measure what matters. Here are 10 essential email marketing KPIs to easily track + optimize your campaigns for maximum impact.
1. Open Rate – Are People Even Reading Your Emails?
Your open rate tells you how many recipients are actually opening your emails. This is one of the most basic (yet crucial) metrics to track, as it gives insight into how engaging your subject lines are.
A low open rate might mean your subject lines need some work — or that your emails are landing in spam folders. Try A/B testing different subject lines, personalizing them, or adjusting your send times to see what resonates best.
👉 Formula: (Emails opened ÷ Emails delivered) × 100
💡 Good Benchmark: 20-30% (varies by industry)
2. Click-Through Rate – Are They Taking Action?
Your CTR shows the percentage of recipients who clicked on a link within your email. If people are opening your emails but not clicking, it might be time to revisit your CTA, email design, or content relevance.
Strong CTAs should be clear, compelling + easy to find. Try using action-driven words like “Shop Now,” “Get Your Discount,” or “Learn More” to encourage engagement.
👉 Formula: (Clicks ÷ Emails delivered) × 100
💡 Good Benchmark: 2-5%
3. Conversion Rate – Are Emails Driving Sales or Sign-Ups?
Opens + clicks are great, but what really matters is whether your emails are driving real results. Your conversion rate tracks how many recipients completed the desired action, whether that’s making a purchase, signing up for a webinar, or downloading a resource.
To improve conversions, make sure your landing pages align with your email content + your CTA is crystal clear. Also, consider segmenting your audience to send more targeted, relevant offers.
👉 Formula: (Conversions ÷ Emails delivered) × 100
💡 Good Benchmark: 1-3%
4. Bounce Rate – Are Your Emails Actually Being Delivered?
A bounce happens when an email fails to reach the recipient’s inbox. There are two types:
- Soft Bounce: Temporary issue (i.e. full inbox or server problem)
- Hard Bounce: Permanent issue (i.e. invalid email address)
Too many hard bounces can hurt your sender reputation, leading to more emails landing in spam. Regularly clean your email list to remove invalid addresses + improve deliverability.
👉 Formula: (Bounced emails ÷ Emails sent) × 100
💡 Good Benchmark: Below 2%
5. Unsubscribe Rate – Are People Jumping Ship?
Unsubscribes are inevitable, but a sudden spike is a red flag. If people are leaving your list in droves, your emails might be too frequent, irrelevant, or overly promotional.
To keep subscribers engaged, focus on delivering value — whether that’s through educational content, exclusive deals, or personalized recommendations. Also, let users control their email preferences instead of making it all or nothing.
👉 Formula: (Unsubscribes ÷ Emails delivered) × 100
💡 Good Benchmark: Below 0.5%
6. Spam Complaint Rate – Are Your Emails Annoying People?
When recipients mark your email as spam, it signals to email providers that your messages are unwanted. Too many complaints can damage your sender reputation, making it harder for your emails to even reach inboxes.
If your spam complaint rate is high, review your email frequency, relevance + permission practices. Always use a clear opt-in process and make unsubscribing easy to reduce complaints.
👉 Formula: (Spam complaints ÷ Emails delivered) × 100
💡 Good Benchmark: Below 0.1%
7. List Growth Rate – Is Your Email List Expanding?
A healthy email marketing strategy isn’t just about keeping subscribers — it’s about growing your audience. Your list growth rate tracks how quickly you’re gaining new subscribers compared to losing them.
To grow your list, use lead magnets, website pop-ups, and social media promotions to attract new sign-ups. But remember: quality matters more than quantity — focus on building a list of engaged subscribers.
👉 Formula: ((New subscribers - Unsubscribes) ÷ Total subscribers) × 100
💡 Good Benchmark: Varies, but aim for steady growth
8. Email ROI – Is Email Marketing Worth the Investment?
At the end of the day, email marketing should be driving revenue. Email ROI helps you determine whether your email campaigns are generating more money than they cost.
With email consistently delivering some of the highest ROI in digital marketing, tracking this metric ensures you’re maximizing your marketing budget.
👉 Formula: ((Revenue from email - Cost of email) ÷ Cost of email) × 100
💡 Good Benchmark: $36 return for every $1 spent (on average)
9. Email Sharing/Forwarding Rate – Are Subscribers Spreading the Word?
If people are forwarding or sharing your emails, it means your content is valuable and engaging. Encouraging social sharing + referrals can expand your reach and bring in new potential customers.
Make it easy for subscribers to share by including a “Forward to a Friend” button and social media share icons in your emails.
👉 Formula: (Shares or forwards ÷ Emails delivered) × 100
💡 Good Benchmark: Varies, but higher = better
10. Customer Lifetime Value – Are Your Emails Driving Long-Term Revenue?
It’s great to make a sale — but repeat business is even better. CLV measures how much revenue a subscriber generates over time.
A high CLV means your email marketing is building strong customer relationships, not just making one-off sales. Personalized campaigns, loyalty programs + post-purchase emails can all help increase retention and long-term value.
👉 Formula: (Average purchase value × Purchase frequency × Customer lifespan)
💡 Good Benchmark: Varies by business
Final Thoughts
Tracking email marketing KPIs isn’t about obsessing over every single number — it’s about understanding what’s driving success + optimizing accordingly. By keeping an eye on these 10 metrics, you’ll gain valuable insights into your campaigns and make smarter marketing decisions.
The key is to test, tweak + refine your strategy. What works today might need adjusting tomorrow, so stay flexible and keep experimenting. Email marketing isn’t just about sending messages — it’s about delivering the right content, to the right people, at the right time.
Now, go check your latest email campaign stats — your KPIs might just reveal your next big opportunity. And if you need agency support, get started by booking a call with a Marketing Strategist — we’ll help you find your perfect team.
