Before embarking on a particular SMS messaging plan, it’s essential to evaluate the costs and the expected ROI (return on investment) and then plan the budget for your best SMS marketing campaigns.
Recent SMS marketing statistics speak for themselves: SMS open rates are as high as 98%, according to a study by the Mobile Marketing Association in 2020. Almost all text messages are opened and read by the recipient. According to this study, SMS marketing has a median ROI of 122%. For every $1 spent on SMS marketing, businesses can expect an average return of $1.22.
On our platform, you will find several methods to measure the ROI of your SMS marketing campaigns, such as tracking the click-through rate, conversion rate, cost per subscriber, and opt-out rate. By calculating these factors, SMS Astral enables you to evaluate the actual cost of your SMS subscribers at a small fee and is therefore considered a sound alternative to more rigidly structured providers.
How to track my SMS marketing campaign?
There are several key metrics that companies can employ to measure the success of their SMS marketing strategies:
- Clickthrough rate: This is the number of clicks on a link within a text message divided by the total number of messages sent. This metric can give you an idea of how interested your subscribers are in your products, offers, or content.
- Conversion rate: These are the successfully completed actions (such as sales and sign-ups) divided by the total number of messages sent. This metric can help you understand how effectively your SMS marketing campaigns drive desired actions.
- Cost per subscriber: It relates to the total cost of acquiring a new text message subscriber, including any fees or expenses associated with the campaign. By comparing the cost per subscriber to the lifetime value of a customer, businesses can determine the true cost of their subscribers.
- Opt-out rate: This is the percentage of subscribers who opt out of receiving future messages from your brand. Tracking this metric can help you understand the effectiveness of your SMS marketing campaigns and identify any areas for improvement.
These tools are accessible through our partnering website Smswiser at an additional charge. We are currently building our in-house tracking system, which will be launched in a few months.
Of course, you can also resort to external instruments such as Google Analytics. Regular tracking of these key metrics will help you understand the performance of your customized SMS marketing campaigns and enable you to make informed decisions about future strategies.
It’s important to note that the ROI of an SMS marketing campaign can vary greatly, and the median ROI of 122% should be considered as a general benchmark rather than a specific guarantee for any particular business. By tracking key metrics and analyzing the results of your campaigns, you can get a better understanding of the ROI of your SMS marketing efforts.
What is the best SMS marketing practice?
Here are a few SMS marketing tips to contact directly with your target group:
- Promotions and discounts: SMS marketing is a great way to send special offers and discounts to your subscribers. For example, a clothing store could send a text message to its subscribers with a discount code for a limited-time sale.
- Appointments and reminders: You can use SMS marketing to send appointment reminders or confirmations to their customers. A dentist could send a text message to remind patients of their upcoming appointments.
- Customer service: SMS marketing can be used to communicate with customers and provide support. A restaurant could use SMS marketing to confirm reservations or address customers’ questions or concerns.
- Product updates and launches: Businesses can use SMS marketing to inform their customers about new products or updates. A software company could send a text message to subscribers to announce a new product launch or update.
- Event invitations and updates: You can also send event invitations and updates to subscribers. An affiliate business can use SMS marketing to send reminders and updates for a streaming event.
Here are a few B2B SMS marketing examples and tips in a business-to-business context:
- Appointment reminders and confirmations: B2B companies can employ SMS marketing to send appointment reminders and confirmations to clients and partners. This SMS marketing tip will help ensure that meetings and calls are noticed and improve overall communication.
- Product updates and launches: SMS marketing can inform clients and partners about new products or updates.
- Event invitations and updates: SMS marketing can be an effective way for businesses to send event invitations and updates to clients and partners. By sending text messages with relevant information about events, companies can ensure that their clients and partners are informed and stay engaged. For example, a conference organizer could use SMS marketing to send event reminders and updates to attendees.
- Lead generation: B2B companies can use SMS marketing to generate leads by offering valuable content or promotions to their target audience and affiliates. For example, a marketing agency could send a text message to prospective clients providing a free consultation.
- Customer service: Through SMS marketing, consulting firms can communicate with clients and partners and offer support by addressing any questions or concerns they may have. A consulting firm could send a text message to clients asking if they have any questions or need assistance. This proactive approach can strengthen the relationship between the consulting firm and its clientele and improve overall satisfaction.
With its low fees and high success rates, SMS Astral messaging service is an intelligent choice for businesses of all sizes. Plus, with SMS Astral, getting started is a breeze. With the help of our 24/7 customer support, you will be able to set up your SMS program efficiently, and you’ll also have access to real-time data about your earnings and expenses, so you can always keep an eye on your ROI. Don’t miss out on the power of SMS marketing – start using it to engage with your customers today!
