To get the most out of your bulk SMS marketing campaigns, you need to use metrics. Define success before launching, that way you can report back to stakeholders and use for improving future campaigns. Here are five key metrics we’ve chosen, for measuring your bulk SMS campaigns.
Delivery rate: This tells you the percentage of messages successfully delivered, out of the total subscribers to whom the SMS is sent. Delivery rates vary widely based on a variety of factors (list size, message frequency and pre-paid phone composition) and a low delivery rate may mean your list needs to be cleansed. You can use number lookup (sometimes known as HLR Lookup) software to help cleanse your list, preventing your sending messages to invalid numbers.
Open rate: is a measure of how many subscribers open a particular SMS campaign after receiving it, normally expressed as a percentage. Statistics tell us that text message open rates exceed 98% compared to 22% of emails, 29% of tweets and 12% of Facebook posts.
Opt-out rate: The opt-out rate tells us the percentage of recipients who opt out after receiving an SMS campaign, much like unsubscribe rates for email campaigns. A high opt-out rate for an SMS campaign can signal: the incorrect audience has been targeted or the content isn’t relevant or value-adding. Better targeting, and split testing your SMS campaigns can help decrease opt-out rates. Statistics also show us that the average SMS campaign is opted out less than 5% of the time.
Clickthrough rate: The click through rate measures the proportion of subscribers who initiated action with respect to an advertisement that redirected them to another page. Then on that page, they might purchase an item or learn more. The average click through rate (CTR) of URLs included in SMS messages is 19%, compared to just 4.2% CTR for emails. Due to the length of SMS messages, the URL is obviously more prominent than in the majority of emails.
Conversion rate: The conversion rate is the proportion of visitors who take a valuable action. This can be a purchase, signup, phone call or simply a page view – whatever you define as the goal. Linking your SMS campaigns to valuable conversions can provide you with an insight into your ROI from the SMS campaign, and help you improve future campaigns.