SMS marketing can be an effective way to gather leads, build a loyal consumer base, and generate word of mouth for your brand. But, it doesn’t mean that all text marketing campaigns are successful. You need to measure the effectiveness of the marketing campaign to know if it’s going in the right direction.
Here are five ways to help you keep track of your SMS marketing campaigns:
Use SMS Marketing Software
Gone are the days of manually recording each metric from your SMS marketing campaign. Collecting and organizing gathered data isn’t only time-consuming, but also costly.
Now, you can use SMS marketing software to help you capture, record, and organize valuable data from your campaign. Reliable software should help streamline various aspects of the text marketing operation. Some features that may help you in this regard are:
- Straightforward text messaging workflows
- Contact groups
- Subscriber analytics
- Messaging analytics
Choose the right app, and you may be able to view metrics using a mobile device. A reliable SMS marketing software can have data syncing features while you’re outside of the office. In return, it can help you see if your operation is doing well or not regardless of your current location.
Check The Contact List Growth Rate
Now that you can view different metrics in an easy-to-use app, you should know what you need to check. First, consider checking the contact list growth rate. This metric helps you measure the frequency of your SMS marketing campaign as your marketers try to catch the attention and interests of targeted sales leads.
A steady list growth rate means that you’re acquiring new leads and customers. Keep in mind that the rabbit doesn’t always win the race. In other words, you don’t have to be hasty in attempting to acquire new leads from the campaign. Aim for steady growth, even if it’s relatively slow. It means that your targeted audience remains loyal to your texting campaign.
However, the subscriber analytics report might show signs of people unsubscribing from your business’s texts. Some unsubscribes tend to be normal, but you’ll know if something’s amiss if you see a significant number of people unsubscribing from the mobile marketing program.
A high opt-out rate is a red flag. This event could mean several instances, which may include several subscribers getting annoyed from consistent text blasts from your firm. Other problems that can warrant people to unsubscribe include poor timing and inaccurate audience targeting.
Check The Click-Through Rate
Aside from the contact list growth rate, don’t forget to check the click-through rate. Note that your texts need to have a call-to-action, which should include a link to your website or a product or service. Without this link, then you’re not telling your audience about the next step they should take.
You should understand that the click-through rate is the percentage of subscribers that clicked on the link in your call-to-action. Clicking on that particular link allows your target audience to see and purchase your brand’s goods.
Subscribers viewing your marketing message might not be enough to warrant an SMS campaign’s success. Instead, ensure that your operation promotes an excellent return on investment. Otherwise, you may need to fine-tune your marketing strategies to increase ROI.
Check The Response Rate
The response rate is a metric to measure the effectiveness of each text blast. Don’t confuse the response rate with the click-through rate. The former is a measurement for the number of subscribers that took action after receiving the text. Conversely, the latter only measures the number of people who clicked on the link in your call-to-action.
The response rate can contain different elements, such as replies, callbacks, and clicked links. Thus, this particular metric views responses in a broader sense as compared to the click-through rate.
Note that not all text marketing campaigns have all the components of the response rate. For example, your startup is selling a product through text, thus you might see the click-through rate in this specific part of the analytics report under the response rate category. But, the click-through rate might not be available or visible if your texts contain a phone number instead of a link.
If you want your applied SMS marketing techniques to be effective, the response rates should be going towards a positive direction.
Check The Cost Per Redeeming Subscriber
Text message subscribers tend to remain under that category until they become paying customers. Moreover, it’s safe to say that no SMS marketing campaign will have no costs. So, before you deem your campaign to be effective and successful, you need to know the cost per lead acquired.
Track each expenditure made during the campaign. For example, list the costs made to acquire SMS marketing software and the money paid to send each text. The amount spent for each converted subscriber will help you figure out the ROI of each text blast and the entire operation.
If you’re not using an app to quantify these costs, you can find the answer using a simple math equation. Start by dividing the cost of each SMS text delivered by the conversion rate. The costs shouldn’t outweigh the campaign. Otherwise, consider pausing the operation until you figure out the reason for the increase in costs. Fine-tune the campaign accordingly to justify your investments for the campaign.
Furthermore, consider the nature of your campaign when reviewing this metric. Businesses trying to make a profit should be on the lookout for opportunities to increase ROI from the SMS marketing endeavor.
But, non-profitable organizations might not think too highly of ROI if it meant getting more responses from people. For example, sending text surveys from a charitable organization might not put ROI in high regard as long as the recipients reply. If so, the response rate becomes a more important metric than the cost per redeeming subscriber.
SMS marketing can be your top technique to gather more leads and promote additional sales conversions. But, the campaign might be heading towards a wrong direction if you’re not using appropriate methods to check its performance. Use reliable SMS text marketing software and check individual metrics correctly. Then, use those tools to remedy campaign issues to help your brand boost marketing efficiency.