We've started using Email Templates in Zoho CRM. Overall they are useful, and what makes them VERY helpful is having data around Open Rate, Click Rate, etc.

In a recent email template we created, we use a Merge Field for a URL hyperlink (since each recipient would get a different link dictated by a specific URL value in a field on their Lead record.) However, I noticed upon using this new email template that it isn't tracking any clicks or click rates like it does in our other email templates. I have other tools that assure me the email recipients are clicking through to these dynamically provided URLs, which means Zoho just isn't tracking the clicks. This is horrible, as we desperately want to know the click rate performance of this new CTA and dynamic link in our new template!

Does Zoho CRM's email templates allow for Click/Click Rate tracking for any URL that's dictated by a Merge Field? Is there something I can do to ensure this happens?

[ NOTE: To be very specific, in the email template editor, we insert a link, then in the "URL" parameter we literally just put the merge field, which in our case is something like: ${Leads.Company Specific URL} This works to insert the appropriate URL value, but as I said isn't getting tracked. ]