Consider how many SMS messages you get daily from businesses and online retailers. One of the most important platforms for brands to communicate with their customers is SMS.
Additionally, it’s crucial to keep a close eye on how your Shopify SMS marketing campaigns are doing given the fierce competition in SMS marketing. What if your campaign only yields a few clicks despite costing you thousands of dollars?
It’s time to use analytics and learn how to monitor your SMS marketing campaigns as a result.
What is SMS Marketing Analytics?
Analytics for SMS marketing is a technique for monitoring and improving your SMS marketing efforts. Knowing your end goals will help you as you plan your SMS gateway campaign and identify what you hope to accomplish. Analytics is the process of tracking these objectives and the development of your SMS marketing campaigns.
For instance, if the main objective of your SMS marketing campaign is to drive traffic to your website, you should track the number of subscribers who clicked on the SMS’s call-to-action link. Here, one of your SMS marketing metrics would be clickthrough rates.
Important SMS Marketing Metrics to Track
A successful SMS marketing campaign begins with well-defined objectives. You can track your progress towards those goals and make the most of your marketing efforts by tracking the appropriate metrics.
The number of subscribers who took action after receiving your text message is known as the interaction rate. Common actions are expressed as a percentage and include clicks, clicks-to-call, app opens, etc. While a low interaction rate indicates that recipients are not responding to your message and that there is room for improvement, a high interaction rate indicates that your SMS campaign is relevant to your users.
The long-term success of your SMS programme depends heavily on expanding your list. The more subscribers you have, the easier it will be to cultivate brand advocates and increase sales. Another reliable indicator of the success of your customer acquisition and retention efforts is list growth. You want more than just more subscribers, though. The people you already have should continue to be interested.
Monitoring your SMS-driven revenue, especially your ROI or ROAS, is essential for gauging the effectiveness of your programme and ensuring that your messaging is being received.
It’s crucial to examine your SMS revenue in its entirety. But to fully understand the impact your channel has on the customer lifecycle, you must segment revenue by various message types (such as campaign messages vs. triggered messages) and campaign types (such as a seasonal campaign vs. announcing a new product launch).
How you assess revenue will also depend on the bigger objectives of your brand. For instance, revenue generated by your welcome series may not be the most accurate metric if your main goal is customer retention. Instead, perhaps you should consider whether your strategy is generating repeat business.
Sometimes, the primary goal of an SMS campaign would be to gather feedback. For instance, when you send out a message asking for feedback and want subscribers to reply.
The proportion of people who responded to your message is known as the reply rate. However, only allowing for two-way conversations will make it possible to measure this metric. When you enable the option for customers to reply to your SMS through the same channel, this is what it means.
This important metric helps you determine the effectiveness of your messages, the level of engagement of your subscribers, and the potency of your call to action.
Expect higher conversion rates for your campaign if you’re new to SMS marketing than you would with email. People who give you their phone number are probably interested in your goods or services because SMS subscriber lists typically have highly engaged audiences.
How frequently should your SMS metrics be analysed?
When launching a new campaign or triggered message, we advise checking SMS metrics once a week to inform campaign planning and rolling edits. For your tried-and-true initiatives, we advise monthly analysis of your numbers. Finally, you ought to conduct a quarterly business review (QBR) to assess your performance on the yearly targets set for your team.
SMS Pro Tip: Constantly A/B test the messages and journeys of your SMS campaigns to find the messaging that connects with your audience the most, spot areas for improvement, and open up new engagement.
Improving performance metrics for your next text marketing campaign
Tracking analytics for your campaigns is essential for success in mobile marketing, whether you’re a marketer or a business owner. You’re well on your way to increasing revenue from your bulk SMS marketing efforts and expanding your business with these tips in hand.