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The Email KPIs Every Digital Marketer Should Be Tracking

Categories: 
Author
Ryan Allen
Published
January 21, 2026

Email marketing isn’t dead. It’s just misunderstood.

The problem is that brands are tracking the wrong metrics (or worse, celebrating vanity numbers that don’t actually move the business).

If you’re still judging email performance by open rates alone, we need to talk. Here’s what actually matters and why.


Why Email KPIs Matter More Than Ever

Email is one of the few channels you actually own. But ownership doesn’t equal effectiveness.

The right email KPIs (key performance indicators) help you:

  • Understand what your audience actually cares about
  • Optimize for revenue, not just engagement
  • Prove email’s value to leadership
  • Scale smarter instead of louder

The Email KPIs That Actually Matter

1. Open Rate (Context Matters)

Yes, open rate still has a place, but it’s not the star of the show anymore.

What it tells you:

  • Subject line effectiveness
  • Brand recognition
  • Deliverability health

What it doesn’t tell you:

  • If anyone actually read the email
  • If it drove clicks, conversions, or revenue

Pro tip:
Use open rate as a diagnostic metric, not a success metric.


2. Click-Through Rate (CTR)

If opens are the handshake, clicks are the conversation.

CTR measures:

  • Content relevance
  • CTA clarity
  • Message-to-offer alignment

Low CTR with high opens usually means:

  • The subject line overpromised
  • The content underdelivered
  • Or the CTA wasn’t clear enough

This is one of the most important engagement KPIs to track consistently.


3. Click-to-Open Rate (CTOR)

This one’s underrated—and incredibly telling.

CTOR = clicks ÷ opens

It answers the question:

“Once someone opened this email, did they care enough to act?”

High CTOR = strong content.
Low CTOR = disconnect between subject line and body.


4. Conversion Rate

This is where email stops being “marketing” and starts being business.

Conversion rate tracks:

  • Purchases
  • Sign-ups
  • Downloads
  • Booked demos
  • Any defined goal action

5. Revenue Per Email (RPE)

RPE tells you:

  • How effective each send actually is
  • Which campaigns deserve more investment
  • Whether segmentation and personalization are working

This KPI helps you move conversations from “we sent an email” to “here’s what it earned.”


6. List Growth Rate

Track:

  • Net new subscribers
  • Where they’re coming from
  • How they’re converting long-term

Fast growth with poor engagement is a red flag.
Slow growth with high engagement is usually a green one.


7. Unsubscribe Rate

This metric isn’t the villain people think it is.

Unsubscribes can mean:

  • Your content isn’t relevant to everyone (that’s okay)
  • Your cadence is too aggressive
  • Expectations weren’t set clearly at signup

A small unsubscribe rate is normal. A sudden spike is a signal worth investigating.


8. Spam Complaint Rate

This is one KPI you never want to ignore.

High spam complaints hurt:

  • Deliverability
  • Sender reputation
  • Future performance

If this number climbs, pause optimization and fix trust first.


How to Choose the Right Email KPIs

Ask yourself:

  1. What is the goal of this email?
  2. What action defines success?
  3. Which metric proves that action happened?

Different emails = different KPIs. A welcome email shouldn’t be judged the same way as a promo blast or a nurture sequence. Context is everything.


FAQ: Email KPIs Digital Marketers Ask About

What are email KPIs?

Email KPIs (Key Performance Indicators) are metrics used to measure the effectiveness of email marketing campaigns. Common KPIs include open rate, click-through rate, conversion rate, unsubscribe rate, and revenue per email.


What is the most important email KPI?

The most important email KPI depends on your goal. For revenue-focused campaigns, conversion rate and revenue per email matter most. For engagement-focused emails, click-through rate and click-to-open rate are more meaningful.


Are open rates still reliable?

Open rates can be useful for trend analysis and subject line testing, but they are less reliable due to privacy changes. They should be used alongside engagement and conversion metrics—not on their own.


How often should email KPIs be reviewed?

Email KPIs should be reviewed after every campaign and analyzed over time to spot trends. Weekly and monthly performance reviews help inform optimization decisions.


How do I improve poor email KPI performance?

Improving email KPIs typically involves refining subject lines, clarifying CTAs, improving segmentation, adjusting send frequency, and aligning content more closely with audience needs.


Ready to Turn Email Metrics Into Real Results?

Tracking email KPIs is one thing. Knowing how to act on them is another.

That RANDOM Agency helps brands build email strategies rooted in the metrics that actually matter—engagement, conversion, and long-term growth. 👉 Work with That RANDOM Agency to turn email data into smarter strategy and stronger results. Request a proposal today.

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