Result
ROI
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This calculation is for informational purposes only and does not replace advice from a qualified professional. Formulas and rates may not fit your exact situation — double-check the figures before making decisions.
How it is calculated
ROI = (revenue − newsletter cost) ÷ newsletter cost × 100%. Email is usually one of the cheapest channels per recipient, so newsletter ROI often comes out many times higher than paid ad channels — that's not a calculation error, just a feature of a channel with low marginal cost.
Newsletter cost should include not just the email marketing service fee but also time spent preparing the email, design, and, if applicable, the cost of any discount or promo code customers used — otherwise ROI is overstated.
Attributing revenue to the newsletter specifically is the weakest link in the calculation: if a customer got the email but would have bought anyway, that revenue is wrongly credited to the newsletter. The most accurate way to assess this is comparing against a control group that didn't receive the email.