Free tool · Email ROI
Email Campaign ROI Calculator
Email is usually the highest-return channel a marketing team owns — but only if you measure it end to end. Enter your send volume, funnel rates, order value, and cost to see the revenue and ROI a campaign returns.
Email looks cheap — until you trace the funnel
A send costs almost nothing, so it is tempting to call every campaign a win. The real return only shows up once you multiply through opens, clicks, conversions, and order value against the true cost.
Opens are a soft signal
Apple Mail Privacy Protection and image pre-fetching inflate open rates, so opens are no longer a reliable top-of-funnel number. Anchor your ROI on clicks and conversions, and treat the open rate as directional rather than precise.
The funnel compounds
A 40% open rate, 10% click rate, and 5% conversion rate sounds healthy, but multiplied together that is two orders per thousand sends. Small drops at each stage compound fast — which is exactly why modelling the full funnel matters.
Cost is more than the ESP
The platform fee is the obvious line, but design, copywriting, list hygiene, and the hours your team spent building the campaign all belong in the cost. Leave them out and a break-even send can masquerade as a blockbuster.
Calculate your email ROI
Enter your send volume, funnel rates, order value, and cost.
Total emails delivered for this campaign.
Share of delivered emails that were opened.
Share of opens that clicked through.
Share of clicks that completed a purchase.
Average revenue per converting order.
Everything you put in — platform fees, design, copy, time.
Waiting for input
Enter your send volume, funnel rates, average order value, and campaign cost to see the return.
Revenue = sent × open% × click% × conversion% × AOV. ROI = (revenue − cost) ÷ cost × 100.
What is email campaign ROI?
Email campaign ROI is the net return a single send (or flow) produces, expressed as a percentage of what it cost to run. It connects the audience size to revenue by stepping through the funnel: sends become opens, opens become clicks, clicks become conversions, and conversions become revenue at your average order value.
Because email carries near-zero marginal cost, its ROI is usually the highest of any owned channel — but the headline number is only trustworthy when every cost is counted and the conversion rate is measured against real orders, not just clicks.
Revenue from the funnel
Revenue = Sent × Open% × Click% × Conversion% × AOV
50,000 sent × 40% × 10% × 5% × $80 = 100 orders × $80 = $8,000
Email ROI
ROI = (Revenue − Cost) ÷ Cost × 100
($8,000 − $1,500) ÷ $1,500 × 100 = 433%
How to use this email ROI calculator
Six inputs, one funnel — the calculator steps through it for you.
Pull your real funnel rates
Take the open, click, and conversion rates from your ESP and analytics for a comparable campaign. Use click rate of opens and conversion rate of clicks — not blended rates — so the funnel multiplies correctly.
Count the full cost
Add the platform fee for the send, plus design, copy, and a fair estimate of the hours spent building it. Undercounting cost is the fastest way to overstate ROI.
Compare against your other channels
Read the email ROI next to paid and organic. Email almost always wins on ROI because the audience is already yours — use that to justify investment in list growth and retention flows.
What is a good ROI for email marketing?
Email is consistently cited as the highest-ROI channel, with industry figures often quoted in the range of 3,000–4,000% (roughly $36–$40 per dollar) for mature programs. Your own benchmark matters more than the average: aim to beat the ROI of your paid channels comfortably, and track the trend over time rather than a single send.
Should I use revenue or profit in the calculation?
This calculator uses revenue at your average order value, which is the common marketing convention. If your product margins are thin, swap AOV for average gross profit per order to get a profit-based ROI — that avoids celebrating campaigns that drive unprofitable volume.
Why is my open rate not driving the result much?
Because conversions, not opens, generate revenue. Open rate sits at the top of the funnel and is increasingly unreliable thanks to privacy protections that auto-open messages. The click and conversion rates have a far larger effect on revenue, which is why the calculator multiplies all three stages together.
How do I improve email ROI?
Work the leverage points the funnel exposes: grow and clean the list to raise effective send volume, lift click rate with better segmentation and offers, and improve conversion rate with a faster, more relevant landing experience. Because cost is largely fixed, almost every gain in the funnel drops straight to ROI.
One metric is a number — Multiply connects them all
When every campaign metric, brief, and account signal lives in one AI operating system, you stop calculating in spreadsheets and start acting on the full picture. That's Multiply.