You’re sending emails, checking open rates, and maybe even celebrating when they go up. But here’s the hard truth—open rates don’t pay your bills. Conversions do.
The brands that grow consistently aren’t chasing vanity metrics. They focus on performance indicators that tie directly to revenue. In this post, we’ll break down which email KPIs truly matter, which ones don’t, and how to use your data to make smarter, faster decisions.
Click-Through Rate (CTR): Your First Signal of Interest
CTR is one of the most reliable engagement metrics. Unlike open rate, which has been skewed by Apple Mail privacy updates, CTR reflects real behavior.
- Track both total CTR (how many total clicks) and unique CTR (how many individual people clicked)
- A healthy CTR for most industries falls between 2% and 5%
- Compare automations to campaigns to see which flows consistently drive action
As Business Insider notes, click-through rate is one of the few engagement metrics you can trust in today’s privacy-first inboxes.
Revenue Per Email (RPE): The KPI Executives Actually Care About
If you want a metric that directly connects your email marketing to business outcomes, this is it. RPE tells you how much money you’re generating every time you hit “send.”
- Calculate RPE by dividing total revenue by total number of emails sent
- Benchmark ranges from $0.20 to $0.80 per email for general campaigns, and higher for personalized automations
- Use it to compare different flows or promotional strategies
According to Forbes, RPE is the most important email KPI for CEOs and CFOs because it clearly demonstrates financial impact.
Conversion Rate: Where Interest Becomes Revenue
Clicks show interest, but conversions are where the money changes hands. This metric tells you whether your email content and call-to-action actually deliver results.
- Use UTM tracking and conversion goals in Google Analytics or your ESP
- Define conversion clearly: sales, calls booked, lead magnets downloaded, etc.
- Pay attention to post-click elements like page speed, CTA clarity, and mobile optimization
As Entrepreneur Magazine highlights, brands that win in email marketing focus on what happens after the click—not just on getting it.
List Health and Deliverability: The Under-the-Radar Power Metric
Great email content means nothing if it never hits the inbox. Deliverability metrics are often overlooked but critical to long-term success.
- Keep bounce rate under 2%
- Maintain unsubscribe rate below 0.5%
- Monitor spam complaints and keep them well under 0.1%
- Regularly clean your list to remove inactive subscribers
Healthy lists get better inbox placement. Better placement drives higher engagement. It’s a cycle that supports every other KPI.
Metrics You Can Ignore
There are some numbers that sound impressive but don’t actually tell you much about your email performance.
- Open Rate: Too unreliable due to privacy changes
- Total Number of Emails Sent: Volume does not equal value
- Social Shares: Nice to have, but rarely moves the needle
Focus on the metrics that lead to revenue, not just activity.
Frequently Asked Questions About Email KPIs
What is a good email click-through rate (CTR)?
A healthy CTR typically ranges from 2% to 5%, depending on your industry. Higher rates often indicate more relevant content and stronger calls to action.
How often should I monitor email KPIs?
Review core metrics after each campaign and do a monthly performance review to track trends. For automated flows, check quarterly unless performance noticeably changes.
Is it worth tracking open rates at all?
Only as a directional reference. Privacy updates, especially from Apple Mail, have made open rates unreliable. Use them cautiously and never as your primary success metric.
What tools are best for tracking email performance?
Platforms like Klaviyo, Mailchimp, ActiveCampaign, and HubSpot offer solid analytics. Pair them with Google Analytics using UTM tracking for a complete picture of conversions.
What should I do if my deliverability rates drop?
Clean your list regularly, remove unengaged subscribers, and avoid spammy subject lines. Also, make sure your email authentication (SPF, DKIM, and DMARC) is properly set up.
Conclusion: Track What Moves the Needle
If you want email to become a high-performing revenue channel, stop tracking what looks good and start focusing on what works.
Keep your eyes on:
- Click-through rate
- Revenue per email
- Actual conversion rate
- List health and inbox placement
Ignore vanity metrics and you’ll start making smarter, data-backed marketing decisions.
Ready to build an email strategy that scales with your business? Book your free discovery call and let’s make your email marketing more profitable and predictable.
Citations
- Business Insider – Why Click-Through Rate Is the Metric That Matters Most
- Forbes – RPE: The Email KPI Every Exec Should Know
- Entrepreneur Magazine – Post-Click Optimization: Where Email Marketing Converts