Estimate what your email program earns. Enter your list size, how often you send, open, click and conversion rates, average order value and monthly costs to see opens, clicks, orders, revenue, ROI and revenue per email, plus a 12-month projection.
Last updated:
List & sending
subscribers
/ month
%
Share not bounced. 100 if unknown.
%
Used for the 12-month projection only.
Engagement & sales
%
%
%
$
%
Adds a profit-based ROI.
Costs
$
Platform fee + design, copy and staff time.
Enter your values to see the result.
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How to use the Email Marketing ROI Calculator
Enter your list size, campaigns per month and delivery rate.
Add open, click and conversion rates from your email platform and store analytics; say whether the click rate is of delivered emails or of opens.
Enter the average order value and, optionally, your gross margin.
Add monthly costs: software, design, copywriting and staff time.
Read the ROI and revenue, then check the 12-month projection.
Email marketing ROI formulas
Emails sent = list size × campaigns per month; delivered = sent × delivery rate
Orders = clicks × conversion rate; revenue = orders × average order value
ROI = (revenue − cost) ÷ cost × 100
Revenue per email = revenue ÷ emails sent
Example: 20,000 subscribers × 4 sends = 80,000 emails; 98% delivered = 78,400. A 2.5% click rate gives 1,960 clicks, 3% convert into 58.8 orders, and at $65 that is $3,822 a month. With $600 of costs, ROI = 537%.
Monthly revenue per 10,000 subscribers (4 sends, 98% delivered)
Click rate
1% conversion
2% conversion
3% conversion
5% conversion
Average order value $50
1%
$196
$392
$588
$980
2%
$392
$784
$1,176
$1,960
3%
$588
$1,176
$1,764
$2,940
5%
$980
$1,960
$2,940
$4,900
Click rates are of delivered emails. Segmenting and sending relevant content usually lifts clicks and conversions more than simply sending more often.
Frequently asked questions
How do you calculate email marketing ROI?
ROI = (revenue from email − email costs) ÷ email costs × 100. If email brings in $2,293 a month and costs $600, ROI = (2,293 − 600) ÷ 600 = 282%, or about $3.82 back for every $1 spent.
How is email revenue estimated?
Emails sent = list size × sends per month. Multiply by the delivery rate, then the open rate, then the click rate and the conversion rate to get orders, and multiply orders by the average order value.
What is the difference between click rate and click-to-open rate?
Click rate (CTR) is clicks ÷ delivered emails. Click-to-open rate (CTOR) is clicks ÷ opens and is always higher. Choose the matching option so clicks are not over- or under-counted.
Are open rates still reliable?
Less than before. Privacy features such as Apple Mail Privacy Protection can register opens automatically, inflating open rates. Clicks and orders are more reliable, so if you know your click rate of delivered emails, use that basis.
What is revenue per email?
Revenue per email = revenue ÷ emails sent. It lets you compare campaigns and list segments of different sizes, and to estimate the value of adding subscribers.
What should be counted as email costs?
Include the email service fee, any design or copywriting costs, and the share of staff time spent on email. Leaving out labor makes ROI look much higher than it is.
Why add a gross margin?
Revenue ROI ignores the cost of the products sold. With a margin, the calculator also shows profit ROI = (revenue × margin − costs) ÷ costs, which tells you whether email is actually profitable.
Are all the tools on FreeToolCabin tested for quality and accuracy?
Yes! Every tool on our site undergoes automated Q/A testing in real browser environments to ensure high precision, correct output, and zero errors. If you happen to spot a bug or have a suggestion, please contact us at [email protected] and our team will review it right away.