Email Marketing Revenue Calculator
Project what each email send — and your list overall — earns per month, using 2025 benchmark open and click rates.
Written by Dorothy Ibrahim, 10+ years in banking & finance
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How we calculate this
This calculator projects what each email send — and your list overall — earns per month, working from list size, click rate, conversion rate, and average order value. It deliberately models revenue from clicks rather than opens, because open rates have been inflated by Apple Mail Privacy Protection and are no longer a reliable revenue signal. Default open and click rates are 2025 industry medians so you can sanity-check your own numbers against them.
The formulas
- Opens per send (context only)
- list size × open rateShown for reference — revenue is NOT modeled from opens, because Apple MPP auto-opens inflate them.
- Clicks per send
- list size × click rateClick rate is measured against the whole list, not against opens — the more reliable path.
- Orders per send
- clicks per send × conversion rate
- Revenue per send
- orders per send × average order value
- Monthly revenue
- revenue per send × sends per month
- Revenue per subscriber per month
- monthly revenue ÷ list size
- Monthly ROI vs tool cost (optional)
- (monthly revenue − email tool cost) ÷ email tool costOnly computed when you enter a monthly email platform cost above $0.
Worked example
- Say you have 10,000 subscribers, the 2025 median click rate of 2.09%, a 2% conversion rate on clicks, a $60 average order value, and 4 sends per month.
- Clicks per send = 10,000 × 0.0209 = 209 clicks.
- Orders per send = 209 × 0.02 = 4.18 orders.
- Revenue per send = 4.18 × $60 = $250.80.
- Monthly revenue = $250.80 × 4 sends = $1,003.20 — about $0.10 per subscriber per month, or roughly $0.025 per email sent.
- For reference, at the 2025 median open rate of 43.46% each send gets about 4,346 opens — but only the 209 clicks drive the revenue model.
Rates, benchmarks & sources
- Default open rate 43.46% and click rate 2.09% (2025 medians); email ROI of roughly $36 per $1 spent. These are directional industry survey medians, not guarantees — your list will differ. — MailerLite 2025; Litmus (industry benchmark medians)
- Revenue is modeled from click rate rather than open × click-to-open, because Apple Mail Privacy Protection auto-opens emails and inflates open rates. — Rule of thumb (click-based modeling)
Figures current as of 2026-07-02. See our methodology & editorial standards for how constants are versioned and verified.
What this tool doesn’t model
- Results are only as good as your attribution — the conversion rate assumes the orders you credit to email really came from email clicks, and last-click tracking can both over- and under-count that.
- Applies one flat click and conversion rate to every send. Real campaigns vary widely: a promotion to engaged subscribers can beat these numbers several times over, while a routine newsletter falls short.
- Assumes list size and engagement stay constant. It does not model list growth, unsubscribes, list fatigue from heavier sending, or deliverability problems.
- The benchmark defaults are cross-industry medians from one provider ecosystem (MailerLite 2025) — medians for your specific industry and list quality may differ meaningfully.
Frequently asked questions
Why does the calculator ignore my open rate when projecting revenue?
Apple Mail Privacy Protection pre-loads emails on Apple devices, which registers as an open even if the subscriber never looked at the message. That makes open rates structurally inflated and unreliable as a revenue signal. Clicks require a real human action, so the model runs list × click rate × conversion rate × order value and shows opens only for context.
Are the default open and click rates realistic for my business?
They are 2025 cross-industry medians (43.46% open, 2.09% click, per MailerLite) — a starting point, not a promise. Your real rates depend on list quality, industry, and how the list was built. The most useful approach is to replace the defaults with your own averages from your email platform; the tool warns you if your assumptions exceed the medians.
Is email marketing really the highest-ROI channel?
Industry surveys have famously put email ROI around $36 back per $1 spent (Litmus), the highest of the common channels. Treat that as a directional benchmark, not a guarantee: it reflects businesses with established lists, and it excludes the cost of building the list in the first place. The economics work because sending to an owned list costs little compared to paying per click.
How can I tell whether an order actually came from an email?
The projection is only as good as your attribution. UTM-tagged links and email-exclusive discount codes give the cleanest signal; platform-reported "email revenue" often uses generous attribution windows that credit email for orders that would have happened anyway. Pick one measurement method and use it consistently so month-to-month comparisons stay honest.
Will sending more emails per month raise revenue proportionally?
The model scales linearly — double the sends, double the projected revenue — but real lists do not behave that way indefinitely. Heavier sending tends to depress per-send engagement and raise unsubscribes and spam complaints, which erodes the click rate the whole projection rests on. Watch your per-send metrics as you increase frequency rather than trusting the straight-line math.
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themoneysheet provides educational estimates, not financial, tax, or legal advice. Figures use published rates and formulas current as of the date shown, but your situation may differ. Consult a qualified professional (CPA, attorney, or licensed advisor) before making financial decisions.