The One Email Metric That Actually Matters (Spoiler: It’s Not Open Rate)

How to tell if your email list is printing cash—or quietly leaking it

Here’s the thing:

When it comes to email marketing, there’s a simple test I run with every brand I coach or work with.

A little diagnostic I like to call the Email Marketing OTC Test (aka: “Oh, This Converts”).

And the marker I look for?"

That sweet, sweet “Excellent” Revenue Per Recipient (RPR) ranking, right at the top of your Klaviyo dashboard.

Yes, every month. Yes, even if your list is small. Yes, especially if you’re serious about using email as a legit revenue stream instead of a dusty newsletter archive.

Why RPR Is the Real MVP

Open rates and click rates are cute. They’re like those participation trophies we hand out to every email campaign that tried.

But Revenue Per Recipient? That’s the gold standard.The "are we actually making money or just making noise?" kind of metric.

It shows you—clear as day—if your emails are doing what they’re supposed to do: make money.

And if you’re hitting that Excellent rating?

You’re officially outperforming at least 25% of your competitors. Translation: your list is doing more with less.

More revenue.More profit.More power to reinvest back into inventory, ads, packaging, product development… or, I don’t know, maybe finally outsourcing your inbox?

Case in Point: Real Numbers, Real Results

We recently onboarded a handmade brand in January. We focused on what I call conviction-building—aka helping their emails do more heavy lifting by speaking to buyer psychology, not just "new product drop!" alerts.

Here’s the before and after:

• Us: $0.16 RPR

• Competitors: $0.044 RPR

That's four times more revenue per subscriber. Same list size. Very different energy.

Our emails were making it rain.Theirs? A light mist, maybe.

The Formula (And Why It’s So Simple)

RPR = Conversion Rate % × AOV (Average Order Value)

Which means you can increase your RPR in two ways:

1. Write better emails that convert more browsers into buyers

2. Get people to spend more once they click through

Or hey, why not both?

That’s why RPR is such a beautiful metric. It simplifies the whole picture.And unlike open rates, it can’t be faked.

⚡️Why This Should Be Your Monthly North Star

Forget obsessing over subject lines or emojis in preheaders (unless they actually improve conversion).

Instead, ask:

“What did I earn from my list this month—per person?”

That number tells you if your email strategy is a cash-printing machine…Or quietly bleeding money you could be banking.

Let the world chase vanity.You? You’re here for profit.

Strong Metrics, Strong Business

You don’t need to hustle harder.You need to get smarter about how your existing assets (like your email list) are working for you.

Revenue Per Recipient is the metric that tells you the truth. And if it’s not where you want it to be? That’s not failure—it’s feedback.

Fix the offer. Fix the email flow. Fix the follow-up.

Then rinse. Repeat. Bank deposits.

Because if you’re waking up to “Excellent” RPR rankings each month?

You’re not just sending emails.You’re building an empire—one high-converting message at a time.

Want help bumping your RPR from “meh” to money? I’ve got swipe files, strategies, and campaign templates that turn clicks into cha-chings. Let’s talk. 💌