As you launch your SMS marketing campaign, it’s important to monitor your metrics to ensure that your efforts are working and helping you achieve your goals. There are several signs when an advertising campaign has had a positive impact on your business. With digital and mobile campaigns, it is even easier to recognise what is working, and what is not.
A High Conversion Rate
One of the ways to track how well your campaign is performing is your conversion rate. Although conversion rates are typically associated with sales, you may also have other associated data that means conversion, according to Mashable. Conversion can also mean clicking a link, opting into a campaign, subscribing to newsletters, clicking through to a website, and more. Monitoring whether people take the action you want will help you determine whether or not your campaign is having the effect you want it to have.
A High Offer Redemption Rate
If your SMS marketing campaign includes a large number of offers, deals, and other discounts, then one of the best ways to monitor your efforts is your offer redemption rate.
Continually monitor the redemption of your offers to see the success of your campaign.
This number tells you how many people have actually redeemed the coupon in store. If it is high, then you know that you are doing something right. Tracking this data can also help you to determine the type of offers to send out in future texts. Offers that do not have as high a redemption rate should be forgotten while those with a high rate should be used again, although not in an identical text.
An Increase in Sales
Finding a direct correlation between your SMS campaign and an increase in sales can sometimes be difficult to measure. However, it can still be a way to gauge whether or not your efforts are worth it. It is easier to see the impact of your texting strategy if it is the only marketing effort you are doing, but there are other ways to see if it has an impact. You can send out a survey, look at redemption and conversion rates, as well as other metrics to identify the exact source of your boost in sales.
An Increase in Your Subscription List
Another positive sign that your efforts are helping you achieve your goals is if you see your mobile subscriber list growing. This means that people want to join the list, and existing subscribers are not opting out. This also means that some people may be telling their friends and family about the list and encouraging them to join as well.
A Low Opt Out Rate
In addition to a larger subscriber list, you also want to see a low opt out rate. You will always have a certain number of people who choose to opt out for a variety of reasons. The average according to Cellit’s Retail Mobile Marketing Benchmark Report is 3.7 percent. People choose to opt out for different reasons. It could be that they no longer are interested in your services, signed up for a discount to buy a gift, or just no longer want your texts. There will also always be a small portion that just does not like your messages, no matter how much effort you put in to create the best content. If you notice your opt out percentage is higher than average, then you should review your campaign strategy and adjust.
A Low Bounce Rate
Another important metric to review is your bounce rate. This is the number of people who are on your subscription list but the message does not go through. Instead, it bounces back. Similar to the opt out rate, you will always have a certain number of bounces. The most successful campaigns will have a very low bounce rate, meaning that people are keeping their subscription up to date even if they change numbers and are accepting your messages.
A successful campaign will have people wanting to receive your messages.
By continually reviewing your metrics, you can catch a potential problem before it significantly affects your marketing efforts. You can also see what is working and make adjustments to your campaign to achieve your goals over time.
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