If you are sending email campaigns but not really looking at the numbers, you are guessing. The difference between average email marketing and serious revenue comes from understanding the key metrics, analysing them properly, and then using those insights to improve every send.
This guide walks you through
- The most important terms in email marketing
- How to analyse them in a simple funnel
- How to optimise based on what the metrics are telling you
You will also see how link clicks connect to retargeting with Facebook and Google ads, and how a platform like Pulse helps you track and act on all of this without needing to be a data nerd.
1. Core Email Marketing Terms You Need To Know #
Think of these metrics as your email marketing vocabulary. Once you understand them, dashboards and reports stop being confusing and start becoming a roadmap.
1. Delivery Rate #
What it means
The percentage of emails that were successfully delivered to inboxes or at least accepted by the receiving servers.
Formula
Delivery rate = Delivered emails ÷ Total emails sent × 100
Why it matters
If emails are not getting delivered, it does not matter how good your subject line or offer is. Low delivery rate usually points to list quality or technical issues such as poor sender reputation.
2. Open Rate #
What it means
The percentage of delivered emails that were opened at least once.
Formula
Open rate = Unique opens ÷ Delivered emails × 100
Why it matters
Opens show whether your subject line, from name, and timing are doing their job. It is not perfect, especially with privacy changes, but it is still a useful directional signal.
3. Click Through Rate, CTR #
What it means
The percentage of delivered emails where at least one link was clicked.
Formula
CTR = Unique clicks ÷ Delivered emails × 100
Why it matters
CTR tells you how many people went from reading the email to visiting your site or landing page. It is one of the most important engagement metrics.
4. Click To Open Rate, CTOR #
What it means
The percentage of people who clicked after opening the email.
Formula
CTOR = Unique clicks ÷ Unique opens × 100
Why it matters
CTOR isolates how effective your email content, layout, and calls to action are for people who actually saw the email, regardless of subject line performance.
5. Link Clicks #
What it means
The total or unique number of clicks on links in your email.
Why it matters
Link clicks represent real intent. A click means someone cared enough to leave their inbox and visit your site. Those visitors are prime audiences for retargeting and follow up campaigns.
Pro tip
Use unique, trackable links with UTM parameters so you know exactly which email and which link drove the visit and can build retargeting audiences in Facebook and Google from that traffic.
6. Conversion Rate #
What it means
The percentage of recipients or visitors who complete a desired action after interacting with your email. That action could be a purchase, booking a call, signing up, or downloading something.
Two common formulas
From delivered emails
Conversion rate = Conversions ÷ Delivered emails × 100
From clicks
Conversion rate from clicks = Conversions ÷ Unique clicks × 100
Why it matters
This is where email turns into real business results. Conversions show how effective your full journey is from inbox to website to checkout or form.
7. Revenue Per Email, RPE #
What it means
How much revenue each sent email generates on average.
Formula
Revenue per email = Total revenue attributed to the email ÷ Emails sent
Why it matters
RPE helps you compare campaigns, forecast revenue, and decide how much effort or ad spend you can justify to grow your list.
8. Revenue Per Subscriber #
What it means
Average revenue generated from each subscriber over a given time period, usually a month or a year.
Formula
Revenue per subscriber = Total email attributed revenue in period ÷ Number of active subscribers in that period
Why it matters
This is a powerful strategic metric. It helps you justify investing in list building and shows the long term value of your audience.
9. Bounce Rate #
What it means
The percentage of emails that could not be delivered. There are two types
- Hard bounces, permanent issues like invalid or non existent addresses
- Soft bounces, temporary issues like full inboxes or server problems
Formula
Bounce rate = Bounced emails ÷ Emails sent × 100
Why it matters
High bounce rate is bad for deliverability and often means your list is outdated or low quality.
10. Unsubscribe Rate #
What it means
The percentage of recipients who clicked the unsubscribe link in a given email.
Formula
Unsubscribe rate = Unsubscribes ÷ Delivered emails × 100
Why it matters
Some unsubscribes are normal, but spikes tell you something is wrong with frequency, relevance, or expectations.
11. Spam Complaint Rate #
What it means
The percentage of recipients who mark your email as spam or junk.
Why it matters
Spam complaints are one of the most damaging signals for deliverability. Too many complaints and your emails may start landing in spam folders even for people who want them.
12. List Growth Rate #
What it means
How quickly your email list is growing after accounting for unsubscribes and bounces.
Formula
List growth rate = (New subscribers − Unsubscribes − Bounces) ÷ Starting list size × 100
Why it matters
A healthy list should grow over time. If growth stalls or turns negative, you need to revisit acquisition and retention strategies.
13. Engagement Segments #
Not exactly a single metric, but a concept you should know. Engagement segments are groups of subscribers based on their interaction level, for example
- Highly engaged, opened or clicked in last 30 days
- Warm, opened or clicked in last 90 days
- Cold, no engagement in last 90 or 120 days
Why it matters
Different engagement segments should receive different frequency and types of emails to maintain deliverability and maximise results.
2. How To Analyse Your Email Metrics As A Funnel #
Just like SMS, you can think of email performance as a funnel. This keeps you focused on where the real bottleneck is.
A simple email funnel looks like this
- Sent
- Delivered
- Opened
- Clicked
- Converted
- Revenue
Take any campaign and plug in your numbers.
Example
- Emails sent: 20,000
- Delivered: 19,200
- Opens: 6,720
- Clicks: 1,344
- Conversions, purchases, bookings etc: 135
- Revenue: 6,750 dollars
Now calculate
- Delivery rate = 19,200 ÷ 20,000 = 96 percent
- Open rate = 6,720 ÷ 19,200 = 35 percent
- CTR = 1,344 ÷ 19,200 = 7 percent
- CTOR = 1,344 ÷ 6,720 = 20 percent
- Conversion rate from delivered = 135 ÷ 19,200 ≈ 0.7 percent
- Conversion rate from clicks = 135 ÷ 1,344 ≈ 10 percent
- Revenue per email = 6,750 ÷ 20,000 = 0.34 dollars
Once this funnel is visible, ask
Where is the biggest drop, and what is limiting revenue the most right now?
- If delivery is low, fix infrastructure and list hygiene.
- If opens are low, focus on subject lines, timing, and from name.
- If opens are good but clicks are low, focus on content, layout, and CTA.
- If clicks are fine but conversions are weak, fix landing pages and offers.
In Pulse, this funnel is easy to see because sends, deliveries, opens, clicks, conversions, and revenue are tracked per campaign, per automation, and per segment when you connect your store such as Shopify.
3. How To Optimise Email Marketing Based On These Metrics #
Now let us turn metrics into practical actions.
A. Improving Delivery Rate #
If your delivery rate is struggling
- Clean your list regularly
Remove hard bounces, role based emails like info at, and very old inactive contacts. - Authenticate your domain
Set up SPF, DKIM, and DMARC for your sending domain so inbox providers trust your emails more. - Warm up new sending domains
Do not blast a cold domain with huge sends on day one. Start with engaged segments and ramp up. - Watch complaint and bounce patterns
Repeated issues may come from specific segments or acquisition sources that are low quality.
With Pulse, you can suppress bounces and complaints automatically and focus campaigns on healthy segments to protect your reputation.
B. Boosting Open Rates #
If open rates are low
- Test subject lines
Use curiosity, benefits, and clarity. Avoid clickbait. - Optimise sender name and email
Consistent, recognisable from names build trust, for example your brand name or a person at your brand. - Tune your sending time
Test sending at different times and days, then focus on when your audience is naturally more responsive. - Segment your audience
More relevant emails get more opens. Do not send everything to everyone.
Pulse can generate multiple AI subject line variations and help you A B test them so you quickly learn what your audience reacts to.
C. Increasing Click Through Rate and Link Clicks #
If people open but do not click, the problem is inside the email.
To drive more clicks
- Have one main call to action
Avoid clutter. Make it clear what the next step is. - Put the main link early
Include a button or main link near the top and again further down for scrollers. - Make buttons obvious
Use contrasting colours and strong action verbs like Shop now, Book your call, Download the guide. - Use clear, specific copy
Show the benefit of clicking, not just Click here. - Personalise where possible
Recommend products or content based on purchase history or behaviour.
Pulse tracks link clicks per email and lets you segment people based on whether they clicked or not, which is perfect for follow ups and retargeting.
D. Improving Conversion Rate From Email #
If clicks are there but conversions lag behind, look beyond the email.
To improve conversions
- Match email promise to landing page
Make sure the page clearly continues the story the email began. Same offer, same framing. - Optimise landing page and checkout
Reduce form fields, remove distractions, and check that everything works smoothly on mobile. - Add social proof
Reviews, testimonials, and trust badges near the call to action help close the gap. - Use targeted offers
Different segments may convert better with different offers. For example, first time buyers versus repeat customers. - Follow up
Use abandoned cart and browse abandonment flows for people who click but do not buy.
With Pulse connected to your store, you can see revenue and orders per campaign and trigger automated flows for non buyers automatically.
E. Reducing Unsubscribe And Complaint Rates #
If people are leaving your list or marking spam more than usual
- Check frequency
You may be sending too often to less engaged segments. - Improve segmentation
Send different content to different audiences based on interests and lifecycle stage. - Balance content and promotion
Mix value, such as tips and education, with offers, rather than only discount emails. - Align with expectations
Make sure what you send matches what you promised at opt in in terms of topic and frequency.
In Pulse, you can treat highly engaged subscribers differently from cold ones, for example
- High engagement: more frequent, more promotional
- Low engagement: lighter touch, re engagement and value focused campaigns
F. Increasing Revenue Per Email And Per Subscriber #
Once the basics are healthy, focus on driving more value from each send and each subscriber.
To increase revenue
- Highlight higher value offers
Promote bundles, subscriptions, or premium products where appropriate. - Use smart product recommendations
Suggest items based on past purchases and browsing behaviour. - Build lifecycle sequences
Welcome, post purchase, nurture, and win back flows tend to deliver strong revenue over time. - Reward your best customers
VIP segments with exclusive offers often respond strongly and drive high average order values.
Pulse uses your ecommerce data to build segments such as high value customers, recent buyers, or lapsed buyers, and lets you design flows that lift customer lifetime value systematically.
4. Using Link Clicks For Facebook And Google Retargeting #
Link clicks are not just a metric; they are a bridge between email and paid ads.
When someone clicks through from an email to your site, they become a website visitor you can retarget with ads on Facebook, Instagram, and Google. Here is how to make that work.
Step 1. Use Trackable Links With UTM Parameters #
In your emails, always use links that include UTM tags, for example
- utm_source = email
- utm_medium = pulse
- utm_campaign = campaign name
This lets your analytics tools and ad platforms see that traffic as email traffic and group it correctly.
Step 2. Make Sure Your Site Is Tracked #
Install
- Meta Pixel for Facebook and Instagram
- Google Ads tag and or Google Analytics on your website
When someone clicks from your email, visits your site, and the pixel fires, that visit is added to your remarketing pools.
Step 3. Build Custom Audiences Of Email Visitors #
In your ad accounts
- Create custom audiences based on website visitors, filtered by specific URLs or UTM parameters related to your email campaigns.
- For example, “All visitors with utm_source = email in the last 30 days” or “Visitors to the specific landing page used in the last campaign.”
These audiences are full of people who were engaged enough to click your email but did not necessarily buy.
Step 4. Retarget With Relevant Ads #
Show ads that continue the conversation
- Product or offer reminders for what they saw
- Extra social proof like testimonials and case studies
- Time limited discounts or bonuses for people who did not convert the first time
You are effectively multiplying every email click, because instead of relying on that one visit, you follow up across channels where your audience hangs out every day.
Pro Tip, Combining With Pulse #
A practical workflow could look like
- Use Pulse to send a campaign with a strong offer and clear CTA to a segmented audience.
- Track link clicks and conversions. Build a segment of people who clicked but did not purchase.
- Use UTMs and your analytics to feed those visitors into custom audiences on Facebook and Google.
- Run retargeting ads specifically for that group while Pulse runs follow up email or SMS reminders for them.
You now have email, SMS, and ads working together instead of each channel acting alone.
5. How Pulse Helps You Track, Analyse, And Optimise Email Metrics #
Knowing the terms is great, but you need a system to measure them and act on them. That is where a platform like Pulse fits in.
Pulse can
- Track key metrics automatically
Sends, deliveries, opens, clicks, conversions, revenue, unsubscribes, and more for each campaign and automation. - Show performance by segment and journey
You can compare how different audiences respond to different flows and offers. - Use AI to improve content
Generate subject lines, body copy, and CTAs tailored to your goals and tone of voice. - Combine Email and SMS
Build journeys where email handles rich content and SMS handles reminders and urgency. - Integrate with ecommerce platforms
Sync orders and products from Shopify and similar tools so you can attribute revenue and build powerful behaviour based segments.
If you want to move from “sending newsletters sometimes” to running a fully measured, optimisation driven email and SMS strategy, you can get started with Pulse’s AI powered marketing platform here
