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Email marketing kpis

12 Email marketing KPIs you should be tracking in 2022

Email marketing is one of the most effective ways of digital marketing. This is the prime reason why almost every business invests in it.

As per email marketing statistics, around 4.3 billion people use emails to communicate with their customers. Not only this, but email is also a chief way for a brand to distribute its content.

Now, you might be making a lot of efforts to market your business and distribute the content. At the end of the day, it doesn’t matter if you are not getting results. And the results are depicted by the key performance metrics (KPIs) of email marketing.

There are various email marketing KPIs. And KPIs for each goal is different, whether it is generating leads, boosting subscribers, increasing product purchases, or anything else. Therefore, you need to analyze them selectively based on your business goal.

In this article, we will explore all the email marketing KPIs in absolute detail. So, let’s just dive into it! 

What are email marketing KPIs? 

Email marketing key performance indicators are the metrics that show the performance of different aspects of an email campaign. As mentioned, their analysis may vary based on the business goal. 

Email marketing KPIs help in understanding:

  • How does the person interact with email? 
  • Have they opened it or not? 
  • How many responded to it? 

And many more! These and many other questions are easily answered with the help of email marketing data of KPIs. 

Email marketing KPIs & metrics you need to track in 2022 

Email marketing KPIs (funnel)

To effectively run, measure, and manage your email marketing campaigns, you need to monitor the following email marketing metrics & KPIs!

1. Email open rate 

As its name suggests, an open rate indicates how many people opened your email from the total emails sent. Email open can help you measure the performance of your campaign but is not that effective. According to 99 firms, 96% of people check their email inbox every day


Well, when an email is sent over to the customer, it has a tracking pixel which is an invisible image. If that image is downloaded, the email is recorded as open. However, for online security, image blocking is enabled by many users. So, even if they open the email, it will not be counted as open.

On the other hand, Apple has introduced some privacy features in iOS 15, including the Mail Privacy Protection feature. Due to this feature, every email appears to be open, making the open rate an ineffective KPI.

Open rate is only valuable if you want to track the performance of two different timelines. For example, if you want to compare the current month with the previous one. However, you need to be extremely careful.

2. Email deliverability rate 

The email deliverability rate specifies how many emails were delivered to the user’s inbox. It is assumed that all the emails sent are received by the customers, but it is not always. Sometimes, the email bounces back from the receiving servers.

There can be many reasons for that, which can lead to low deliverability. Here are some factors that can lead to a low deliverability rate:

  • Making it tough for users to unsubscribe 
  • Sending mails from a free-domain email address 
  • Missing custom authentication while sending the email. 

Ideally, a deliverability rate of 95% is considered the best. The formula to calculate it is: 

Calculating an important email marketing KPI - email deliverability rate

3. Click-through rate 

An email marketer is most excited about this KPI. 

Click-through rate is defined as a measure of the total number of people who clicked on one or more links in your email. 

Your email can have multiple links; therefore, it is crucial to find out which link enticed the user and where it was placed. 

Once you know this, you can tune your marketing strategy to work in that way. For example, if you have a link on top of the email and it is clicked more, this means that your email is designed well. 

Moreover, in the case of multiple links, analyze their structure and words. These two parameters can highly affect the click-through rate. An average click-through rate is between 2-5%. 

4. Conversion rate 

Conversion is one of the key goals behind an email marketing strategy. If we talk about the conversion rate, it is calculated as:  

Calculating a crucial email marketing KPI - Conversion rate

The action here can be anything such as filling out a form, buying a product, downloading an eBook, etc. The number of users who clicked on the link and completed the required action is counted as a conversion.  

The conversion rate of email marketing is the highest among all the other digital marketing methods. 

5. Unsubscribe rate 

The unsubscribe rate is defined as the number of people who unsubscribe from receiving your email after opening it. It may be beneficial in the long term, but it is not a very effective way to measure your business goals. 

Here is why! If a user does not want to see your mail, he or she will never open it in the first place. This decision of the user is reinforced by the fact that your unsubscribe process is long. So, they won’t bother. 

To reduce your unsubscribe rate, you can focus on –

  • Mapping your content
  • Try email frequency testing
  • Perform segmentation of your email list
  • Maintain a regular email sending schedule

It is best to keep your primary focus on conversion rate and click-through rate for measuring engagement. According to a survey, an unsubscribe rate of 0.5% is considered good. Keep in mind that a higher number of unsubscribers can negatively impact the deliverability rate. 

6. Bounce rate 

This email marketing KPI can be used to monitor and prevent any type of spamming in the long term. 

Bounce rate is defined as the percentage of emails that could not be delivered to the target users. Bounces can be of two types, soft and hard. 

A soft bounce is due to a temporary problem such as a full inbox or an issue with the email address. While hard bounces can be due to an invalid email address, closed emails, or non-existed emails. 

You need to monitor the bounce rate to ensure that it is not hard. If it is a hard bounce, it may land you on the list of spammers for your ISP. A bounce rate of 2% or less is considered good. 

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7. Email sharing & forwarding rate 

This is defined as the percentage of users who clicked the share button or forwarded your email. The best aspect of this email marketing KPI is that you get to know which users are liking or sharing your content. 

Based on the analysis, you can create emails with similar content to generate more leads. To calculate the email sharing and forwarding rate, use the following formula:

Calculating email sharing and forwarding rate (formula and example)

The targeted one is already on your recipient list. Through that use, you can track how many times the email is shared or forwarded. You need to keep a record of the content type that got you more shares and forwards. 

8. Email ROI 

The average ROI of email marketing


The overall return on investment that you obtain from your email marketing campaign is known as email ROI. 

For example, if you have invested $100 in your email marketing campaign and you generated a revenue of $800, the email ROI will be: 
[(revenue – marketing expense)/100] *100 

Calculate email ROI (formula)

The ROI can vary based on the goals of your business and the type of your business. The formula to calculate the ROI is also the same. However, the parameters may change based on your goal. 

9. Revenue per subscriber 

Revenue per subscriber is one of those KPIs for email marketing that shows you the performance of each email. For example, if an email of type-1 generated $1000 and you sent 100 emails, the revenue per email will be $10. 

The formula for revenue per email subscriber is:

Formula for calculating revenue per subscriber

This will provide you with the revenue per subscriber. Once you find out which type of email is performing well, you can do optimization to the email marketing campaign for more profit over the long term. 

You can also target more people once you know about the traits of the subscribers. 

10. List growth rate 

The rate at which your email list grows is known as the list growth rate. It is one of the critical KPIs for email marketing as the list growth rate falls naturally with time. Therefore, it is necessary for you to keep a check on it. 

You can calculate the growth rate by using the following formula: 

important email marketing KPI - List growth rate calculation

Calculate these numbers on a timely basis and take the necessary steps to increase your email subscribers. 

11. Spam complaint rate 

The number of people who report your email as spam is counted under the spam complaint rate. It is calculated by dividing the number of spam complaints by the number of emails sent.  

Further multiplying this number by 100 will give you the spam complaint rate. 

This number increases if the user finds your email irrelevant. Therefore, keep your emails meaningful, relevant and personalized. The acceptable spam complaint rate is 0.1%. 

12. Subscriber lifetime value 

This email marketing KPI will help you understand what impact your email marketing campaign had on the user or the subscriber.

It is the average value of a user who is added to your email list for the whole duration of the subscriber’s time on that list. 

In short, it is the value of a subscriber for the time they are active.


To ensure that your email marketing campaign runs smoothly, timely monitor all these email marketing KPIs. Though some of them may not be that relevant right now, they can affect your business performance in the long run. Moreover, email marketing and analytics always go hand in hand.

So, it’s always worth to have a CRM or a marketing platform that allows you to create feature-rich drip emails and gives you an insightful analysis for the whole campaign.

Thus, to make sure your email marketing efforts are worth it, you should keep a close eye on all the email marketing KPIs and continuously perform A/B testing to know what works best for your business.

Jainy Patel

Being an ardent reader and content editor, Jainy draws inspiration from every situation and story. She spends her time developing creative content to invoke the reader's interest. An ambivert with an interest in art, when she's not writing, you'll find her reading or occupied in a creative project.

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