Table of Contents

Why Most Merchants Don’t Track Email Revenue Properly
How GTM Assistant Can Help Track Email Revenue in GA4
Final Thoughts: Why This Matters for Shopify Merchants

The Problem: Why Most Merchants Don’t Track Email Revenue Properly

Shopify store owners spend thousands on email marketing but often don’t know:
Which emails drive the most revenue

How many clicks actually convert into sales
Which email segments perform the best

Most email platforms (Klaviyo, Mailchimp, Omnisend, etc.) report open rates & clicks, but they don’t natively track actual revenue per email campaign inside Google Analytics (GA4).

This is where GTM Assistant can help!

How GTM Assistant Can Help Track Email Revenue in GA4

The goal is to track revenue per email campaign inside GA4 so merchants can:

1. See which emails drive actual purchases

2. Measure average order value (AOV) per email

3. Identify which email segments generate the most revenue

Step 1: Add UTM Tracking to All Email Links

To track revenue per email, every email link should have UTM parameters like:

https://yourstore.com/products?utm_source=klaviyo&utm_medium=email&utm_campaign=spring_sale

1. utm_source=klaviyo → Tracks which platform sent the email

2. utm_medium=email → Confirms the traffic is from email marketing

3. utm_campaign=spring_sale → Identifies the specific campaign

💡 How GTM Assistant Can Help:

✅ GTM Assistant can auto-detect UTM parameters and log them in GA4

✅ This ensures all email-driven traffic is correctly attributed in GA4

Step 2: Email Campaign Data is captured in Google Analytics

Now that UTM tracking is in place, GTM Assistant will auto capture email-related purchases in GA4.

GTM Assistant ensures that the GA4 purchase event also captures UTM data.

Every time a purchase occurs, GTM Assistant send the following data to  GA4 purchase event and all other events for this session:

  “traffic_source”: {

    “source”: “klaviyo”,

    “medium”: “email”,

    “campaign”: “spring_sale”

    “Term”: “emal campaign”,

    “Content”: “xyz”,

    “id”:”identifier”

  }

💡 How GTM Assistant Helps:

✅ Auto-configure GA4 to store traffic_source data with purchases

✅ Pre-configure GTM triggers to capture email UTM parameters

✅ Ensure email revenue data appears in GA4 Reports

Step 3: Sync Email Revenue Data with Google Ads & Retargeting

Once GTM Assistant helps track which emails drive revenue, merchants can:

1. Retarget email clickers who didn’t buy using Google Ads

2. Create lookalike audiences of high-value email customers

3. Optimize email sequences based on real purchase data

Example Use Case:

  • If an email generated 100 clicks but only 2 sales, the merchant may need to adjust the offer or checkout flow.
  • If an email campaign generates high revenue, they can increase their ad spend on similar audiences.
💡 How GTM Assistant Helps:

✅ Enable seamless audience syncing between GA4 & Google Ads

✅ Help merchants identify top-performing email campaigns automatically

Final Thoughts: Why This Matters for Shopify Merchants

By tracking revenue per email campaign, Shopify merchants can:

1. Stop guessing which emails actually make money

2. Optimize email sequences for higher conversion rates

3. Improve return on investment (ROI) for email marketing

💡 Start tracking revenue per email and unlock your true ROI