Click Rate is one of the most important metrics in email marketing because it directly measures engagement and interest. It tells you how many recipients not only opened your email but mainly interacted with its content by clicking a link, button, or Call-to-Action (CTA), showing overall engagement with the campaign.
The formula for calculating email Click Rate is:

For example, 500 emails were successfully delivered to the recipients, and 100 unique recipients clicked at least one link in the email. So the Click Rate calculation will be:

Here the Click Rate is 20% which indicates the overall interaction with link in your email. A higher click rate indicates that your content and call-to-action are engaging.