Email Marketing ROI Calculator
Calculate email campaign revenue, ROI, and revenue per subscriber from list size and conversion rates.
By Konstantin Iakovlev · Updated September 2026 · Source: Mailchimp — Email Marketing Benchmarks (data as of December 2023)
Monthly Revenue
$90.00
Email ROI
-10%
Revenue per Subscriber
$0.01
Funnel Breakdown
| Subscribers | 10,000 |
| Opens | 2,000 |
| Clicks | 60 |
| Conversions | 1.2 |
| Monthly Revenue | $90.00 |
ROI Metrics
| Monthly ROI | -10% |
| Annual Revenue | $1,080.00 |
| Revenue per Email Sent | $0.01 |
| Cost per Acquisition | $83.33 |
| Platform Cost | $100.00 |
Use the Email Marketing ROI Calculator above to calculate your results. Enter your values and see instant results — all calculations run in your browser.
Disclaimer: This calculator is for informational purposes only and does not constitute tax, financial, or legal advice. Results are estimates based on the information you provide and current rates. Always consult a qualified tax professional or financial advisor for advice specific to your situation.
How It Works
Email remains one of the cheapest channels to run and one of the easiest to misjudge. Projecting revenue, return on investment, and value per subscriber for your email program gives you a defensible basis for how much budget the channel deserves and where to push next.
Revenue follows the funnel: list size × open rate gives opens, opens × click rate gives clicks, clicks × conversion rate gives orders, and orders × average order value gives monthly revenue. The click rate here is applied to opens, so it is a click-to-open rate; many benchmark reports quote clicks as a share of all delivered emails, and such a figure should be divided by your open rate before you enter it. ROI is monthly revenue minus the monthly cost you enter, divided by that cost, times 100, and revenue per subscriber is monthly revenue divided by list size.
Results are only as honest as the inputs, and inflated conversion rates or understated costs will quietly distort everything downstream. Account for the costs that hide in plain sight, such as the hours spent producing content, platform subscription fees, and the overhead of A/B testing, and put all of them in the monthly cost field, not just the platform fee. Refresh your figures as the market and your own campaign results shift.
Example: A Monthly Product Newsletter
- 1 Input: list size 50,000 subscribers, open rate 30%, click rate 8% of opens, conversion rate 2.5% of clicks, average order value $75, and $500 a month in email costs (platform fee plus an allowance for content time).
- 2 Funnel: 50,000 × 30% = 15,000 opens; 15,000 × 8% = 1,200 clicks; 1,200 × 2.5% = 30 orders; 30 × $75 = $2,250 in monthly revenue.
- 3 ROI = ($2,250 - $500) / $500 × 100 = 350%. Revenue per subscriber = $2,250 / 50,000 = $0.045, shown as $0.05. Cost per acquisition = $500 / 30 = $16.67, and annual revenue at this pace is $27,000.
- 4 The ROI is high because the cost base is small: if the real cost of writing and designing each send pushed monthly costs to $2,250, ROI would fall to zero. That break-even cost is worth keeping in mind before adding tools or staff time.
Source: Mailchimp — Email Marketing Benchmarks (data as of December 2023) · Last updated: September 2026
Frequently Asked Questions
What is the average ROI of email marketing?
What is a good email open rate?
How do I calculate email marketing ROI?
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