At a certain point, you need some standards or measures to check your progress and success according to those standards. Similarly, there must be some metric for an SMS marketing campaign to identify whether you are operating things right or not.
Measuring your success rates will help you identify the things that your customers like to see most and the things that make them less engaged. You will become able to work and put more effort into your customers’ interest and bring improvements to your product or services.
The following paragraphs will discuss the metrics against which you can measure your SMS marketing success rates are.
Top 6 metrics to measure the success of SMS marketing
Knowing whether you are doing right or wrong with your SMS marketing campaign is very important. Soon after you start a campaign, you need to measure it by looking at certain aspects. These metrics are one of the effective ones to measure the success of a marketing campaign accurately.
Below is the list of six metrics that you must follow to calculate the SMS marketing campaign’s success.
Increased subscriber list
If your subscribers’ list is increasing, then it means that you are becoming successful in bringing or attracting more customers and clients to your services. It is important to note down your subscribers’ total number before initiating an SMS marketing campaign and then comparing the subscribers’ total number after the campaign. The difference between the subscriber before and after the campaign will give you the total number of subscribers you could make after the campaign.
Opt-in rates and opt-out rates
If the opt-in rates increase and the opt-out rates decrease, then it means that your SMS campaign is successful. For every SMS campaign, the opt-in rates increase if the text you send to the people meets the standards and follows the SMS marketing rules. Sending messages that could annoy the customer could result in opt-out rates; hire an SMS marketing agency in Dubai to send SMS alerts that will result in high opt-in rates.
Increased ROI and sales
If the amount you invest in your SMS campaign is less than the amount you receive from your sales, it means you are running a successful campaign. Businesses run SMS campaigns and marketing strategies to increase their sales by increasing the number of customers. If you become successful in increasing your sales, then your ROI will ultimately increase.
CTR or click-through rate
CTR or click-through rate is a way to measure the recipients’ engagement. It means how many active subscribers you have in your subscriber list who act every time you send an SMS alert. If you send a link via SMS, what numbers open the link and visit the location? If the click-through rates increase, it means the subscribers are engaged, and they will most probably purchase an item while they click the link.
Higher conversion rates
Do not mix conversion rates with click-through rates; both are different metrics. Conversion rates are the number of actions a recipient takes after responding to your SMS. Usually, we associate conversion rates with the purchase rates; we can identify the type of products our clients are more likely to buy and the SMS alerts that increase the purchase rates.
Cost of customer acquisition
Compare the cost of every message to the total conversion rates. If the conversion rate is higher than the cost of acquiring a single subscriber, then you are doing right with your SMS campaign. Make sure you are facing no loss in developing fewer subscribers by spending more on acquiring them. The cost of customer acquisition is much similar to calculating the ROI for an SMS campaign.
Reasons to measure SMS campaign success rates
Running an SMS campaign is not enough; you have to stay alert after initiating your marketing campaign and measure its effectiveness and success. Following are some of the reasons why you must measure the success rates of your marketing campaign.
Finding grey areas
Developing metrics and then measuring your SMS campaign concerning these metrics will help you identify your grey areas. If, as per these metrics, you are failing to increase your subscriber list, then it means you are doing something wrong with your SMS marketing strategies. You will identify those weak points and try to correct them to increase the chances of success.
Develop future strategies
Measuring the success rate will help you with future marketing strategies. If you succeed enough with the current SMS marketing strategies, you will continue with the same strategy in the future. If the current approaches are not effective, you need to develop effective strategies for future campaigns’ success. Work enough on strategy development before initiating the SMS campaign; you can hire a marketing agency for developing effective SMS marketing strategies and implement them for your business’s success.
Develop a metrics list for your next SMS campaign
With the development of SMS marketing strategies, develop a metrics list to ensure your marketing campaign’s success rates. It will help you decide whether you need to continue with the drive or need to stop before it’s too late.