Email marketing consistently produces the highest ROI of any digital channel. The oft-cited figure is $36 for every $1 spent — but that average hides enormous variation. Here is how to calculate yours.
Average email ROI by industry
| Industry | Typical ROI |
|---|---|
| E-commerce / retail | $45–$60 per $1 |
| SaaS / software | $35–$50 per $1 |
| B2B services | $20–$40 per $1 |
| Publishing / media | $30–$55 per $1 |
| Non-profit | $25–$40 per $1 |
The email ROI formula
ROI = (Revenue from email − Cost of email program) / Cost × 100
Revenue attribution is the hard part. Options: - Last-click: attribute sales to the last email clicked before purchase - First-touch: give credit to the email that first acquired the subscriber - Multi-touch: distribute credit across all email touchpoints
Most e-commerce brands use a 7-day or 30-day click attribution window.
Improving email ROI
- Segmentation increases open rates 14.3% and click-through 100.9% (Mailchimp)
- Personalisation beyond first name improves CTR 14%
- Send-time optimisation improves opens 20–30%
- List hygiene — removing disengaged subscribers improves deliverability
Calculate your email program's ROI with the email ROI calculator.