Email Marketing Blind Spot: Are You Measuring Revenue Per Email?

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!

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

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”

  }

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