Email Marketing Metrics That Actually Matter (And How to Track Them)
Email marketing isn’t just about sending pretty messages—it’s about getting results. But with dozens of metrics to look at, how do you know what really matters?
Spoiler alert: it’s not just open rates.
If you’re spending time writing, designing, and sending campaigns, you deserve to know what’s working—and what’s not. So let’s break down the email marketing metrics that actually matter, why they matter, and how you can track them like a pro.
1. Open Rate (Still Useful, But With a Caveat)
What it tells you:
How many people opened your email compared to how many received it.
Why it matters:
It gives you a rough idea of how effective your subject lines are and whether your audience is engaging.
BUT: With Apple Mail Privacy Protection and other privacy tools hiding open data, open rates aren’t as reliable as they used to be.
How to track it:
Your ESP (Email Service Provider) like Mailchimp, ConvertKit, or Klaviyo will show this, but take it with a grain of salt.
2. Click-Through Rate (CTR)
What it tells you:
The percentage of recipients who clicked on a link in your email.
Why it matters:
It shows how engaging your content is and whether people are taking action. This is one of the most important indicators of real interest.
How to track it:
Most ESPs report this automatically. You can also use UTM parameters in your links and track behavior in Google Analytics under Acquisition > Campaigns.
3. Click-to-Open Rate (CTOR)
What it tells you:
Of the people who opened your email, how many actually clicked?
Why it matters:
It gives you deeper insight than CTR alone. A low CTOR means your content didn’t match expectations set by your subject line or wasn’t compelling enough.
How to track it:
Many ESPs like MailerLite, ActiveCampaign, and HubSpot show this in reporting dashboards.
4. Conversion Rate
What it tells you:
How many people completed a desired action (purchase, sign-up, download) after clicking your email.
Why it matters:
This is the end game. Whether you’re selling a product, promoting a webinar, or growing your list—this is what you really care about.
How to track it:
Use UTM tracking on email links and set up Goals in Google Analytics or Conversion Events in GA4. Tools like Shopify, WooCommerce, or Teachable also integrate to track email-driven conversions.
5. Bounce Rate
What it tells you:
The percentage of emails that couldn’t be delivered.
Hard bounces = invalid or non-existent addresses (remove immediately)
Soft bounces = temporary issues (like full inboxes)
Why it matters:
High bounce rates damage your sender reputation and can get you flagged as spam.
How to track it:
ESPs provide bounce reports. Keep your bounce rate under 2% for best deliverability.
6. Unsubscribe Rate
What it tells you:
How many people opted out after receiving your email.
Why it matters:
A spike in unsubscribes could mean your content is off-target or too frequent. Some churn is normal, but consistent losses mean it’s time to tweak your approach.
How to track it:
Built into your ESP’s analytics dashboard.
7. Spam Complaint Rate
What it tells you:
How many people marked your email as spam.
Why it matters:
Even a small number of complaints can hurt your domain reputation and land future emails in the spam folder.
How to track marketing metrics:
Most ESPs report spam complaints. Aim to keep it under 0.1% per campaign.
8. List Growth Rate
What it tells you:
How fast your list is growing (or shrinking).
Why it matters:
It helps you assess the effectiveness of your lead generation efforts and whether you’re keeping subscribers engaged long-term.
How to track marketing metrics:
Formula:
(New subscribers – Unsubscribes) ÷ Total subscribers x 100
Track over time to spot trends and evaluate lead magnets or signup sources.
Bonus: Revenue per Email / Subscriber
What it tells you:
The financial ROI of your email campaigns.
Why it matters:
It connects email engagement directly to revenue. Especially important for eCommerce or digital product sellers.
How to track marketing metrics:
Use platform integrations (e.g., Klaviyo + Shopify) or custom tracking with UTM links + GA4/Shopify analytics.
Final Thoughts on Email Marketing Metrics That Actually Matter (And How to Track Them)
Don’t drown in data. Focus on the metrics that actually align with your goals—whether it’s more clicks, more conversions, or higher retention.
