If you want to maximize the performance of your SMS campaigns, you have to measure their results. Your SMS gateway dashboard should allow you to track relevant KPIs. With this data, you can make adjustments to your SMS campaigns to boost the success of your mobile marketing.
SMS Campaigns Are Expensive: You Need to Evaluate Their ROI
An SMS campaign allows you to reach vast numbers of leads and customers. Every campaign, however, needs to be evaluated when finished. With this information, you can improve your processes, making changes that will boost the success of your next campaign. Since SMS campaigns can be as much as ten times more expensive than email campaigns, it is critical that you maximize their ROI.
It used to be difficult to monitor SMS campaigns. Retention campaigns, especially, were tedious to analyze and track. However, with the good features, your SMS gateway dashboard can now helps you optimize retention strategies and focus on what customers want and how you can provide it.
An efficient campaign meets its objectives with the least amount of effort, time, and company resources. Each company may have different KPIs to track, depending on objectives. A rich SMS campaign, supported by a dashboard that lets you track the most important KPIs, gives you a reliable way to measure campaign performance. Here are some of the KPIs that an ideal SMS dashboard should support.
1/ Are the Contacts in My Database Qualified?
Before any type of online campaign, you should check and double check the quality of the contacts in your customer database. This involves processes such as updating customer information, removing outdated entries, and reassigning customers to different points in the sales funnel.
A well-maintained database will allow you to improve the routing and distribution of your marketing messages, as well as the assessment and calculation of your campaign’s ROI. Consider using your dashboard to track additional important KPIs that will give you hints about your base quality, such as:
- Deliverability rate: This indicates whether or not your SMS messages reached their intended audience. If your messages aren’t reaching at least 90 percent of the people they’re directed to, your customer base isn’t qualified enough. Your investment in that campaign will not be fully profitable and your ROI will be low.
- STOP SMS rate: About 95 percent of SMS messages are opened within three minutes of being received. However, the message you deliver must be interesting to, and relevant to, your target audience. If not, they may decide to opt out of receiving them. The STOP SMS option is mandatory at the end of your SMS messages: it gives recipients the option to unsubscribe and stop receiving your SMS messages. If you receive a high number of STOP SMS opt-outs, it can mean that your audience is too broad and that the SMS is not relevant to the recipients. It can also mean that you are sending SMS messages too frequently and the recipients are tired of getting them.
2/ Is My Content Interesting to My Contacts?
Once the content is delivered, your dashboard can help you track KPIs that reflect whether the recipient was interested in the message, such as:
- Open rate: How many recipients opened your SMS message?
- Click rate: How many recipients clicked on a link contained in the SMS message compared to the number of messages sent?
- Reactivity rate: The ratio of the number of opened SMS messages to the number of unique clicks on the link contained in the message.
- Revisit rate: The number of people who reopened the message later to click on the link.
Depending on your objectives, some of these KPIs may be more relevant than others. An SMS campaign that encourages customers to come to a physical store, for example, may be more accurately assessed by the revisit rate.
3. How Can I Measure the Transformation Rate of My Campaign?
The transformation rate (or conversion rate) is probably the most important KPI. It tells you how many leads have become customers because of your SMS campaign. It’s probably the hardest KPI to measure but it will help you know the real results of your SMS campaign.
One way to measure the conversion rate is through tracking increased sales of products on your e-commerce website. This data can be tracked and analyzed in Google Analytics, for example. Increased sales after an SMS campaign are a good indicator that the campaign was successful.
“Drive-to-store” campaigns can be more difficult to measure. Just counting the number of people who come through the door won’t give you a reliable result. However, you can display exclusive offers in your SMS campaigns that allow you to accurately measure who has seen the messages: a coupon, for example, can be made available only in the campaign.
The dashboard you use for your SMS campaigns must be consistent with your goals. You should be able to A/B test your messages by changing relevant parts of the message or the offer and evaluate your campaigns globally, on multiple channels.
The more you know about the performance of your SMS campaigns, the better you’ll be able to make adjustments and plan future campaigns. myElefant’s platform will let you track the most important KPIs. Contact us today for more information on our SMS campaign dashboard. Our experts are ready to provide the professional counseling you need.