SMS Marketing Benchmarks are used to determine the success of your campaign. If you send enough texts about your product, service, or affiliate offers, then you will eventually sell out. The three most important letters, K-P-I, and S-C-H are what they stand for. The K stands for keeping customers, while S stands for making sure that your customers have a great experience while using your product. In this article I will talk about how you should use these three letters in your SMS Marketing campaigns.
The three most important letters, K-P-I, and S-C-H, are what they stand for. Your Subscribers are basically the first people that get all of your marketing news, and other messages. While your texts can be the absolute best in the industry, if no one is reading them then it will be fruitless. SMS marketing benchmarks are important because they help determine what your customer’s experience should be while using your product or service.
All of your customers are important, however, the people that you want to read your text messages are the ones that will convert. The best way to ensure that your customers will read your text messages is by testing it with a mobile application, or by asking your customers to participate in a survey. SMS Marketing Benchmarks is very important, because if you do not test and track then you are doing more harm than good to your business. SMS Marketing Benchmarks is what will help you test and track any SMS campaign and allow you to see which ones are doing well, and which ones are not performing well.
With any marketing campaign, you need quantifiable ways to measure success. Learn the SMS marketing benchmarks to look out for in a healthy campaign.
The three most important letters to any marketer are K-P-I (in that order ?). KPIs, or key performance indicators, are the numerical measures that determine the success of your marketing efforts. Sometimes referred to as deliverables, these benchmarks are something that should be established before you begin any kind of campaign.
The temptation to begin a new marketing effort without much of a plan is very prevalent. A lot of the time we hear people say “we’ll just figure it out along the way!” While we commend your confidence, we suggest you take up a new motto: PPPPPPP prior proper planning prevents piss poor performance.
Starting every campaign with benchmarks that help you determine what’s working (and what isn’t) will ensure you stay focused and successful. Not to mention, when your team or supervisor asks you to justify the investment you’re making in text marketing, solid benchmarks will help demonstrate what a knockout job you’ve been doing!
Benchmarks can always be adjusted to fit the needs of your business . However, to help you establish a framework, we’ll get you started with the top six measures to look out for in your campaigns.
1. Number of Subscribers
“Subscribers” is just another name for contacts. They’re the people who make up your list(s) and receive all your marketing messages. While your texts could be the best in the business, if nobody is reading them it won’t be worth a hill of beans. Subscribers are the bedrock to SMS marketing success. You want to ensure that you are constantly growing your list and reaching more people with your campaigns. Tracking monthly subscriber growth (or loss) will help you determine if you have a healthy text marketing strategy and if you’re advertising in the right places.
SMS Marketing Benchmarks allows you to see how many people have access to your mobile marketing campaign. They are also useful when you want to compare different SMS platforms and see what is available. The amount of time it takes to send SMS messages, as well as their delivery speed, will give you a good idea about their effectiveness. SMS Benchmarks can help you choose the right platform for your business.
You can also calculate the exact number of subscribers for a particular site by multiplying the number of open accounts for that site by the number of open accounts for that site. In order to do this, you need to know the open and closed accounts for a particular site. A positive number will indicate that more people have accessed this content, while a negative number will mean that fewer people have accessed it. If a site has a high number of open and closed accounts, then you can estimate the number of subscribers from this data.
In addition to getting an idea of the number of subscribers and the subscriber count for different websites, you can also get an idea of the number of views that each of these sites receive. You can find out how many views YouTube videos and blog posts YouTube receive by using the YouTube Subscribers tool. Google Analytics can also be used to monitor the views on blogs and YouTube channels. You can also monitor the number of comments made on blogs and channels, the number of interactions with other users on social media tools, and the number of times the keywords were searched during a particular period.
2. Conversion Rates
SMS campaigns have lots of goals. Maybe you’re using it to grow your email list , or perhaps to drive purchases. Either way, in order to make sure your text messages are helping you reach those goals, you need to determine your conversion rates.
To calculate a conversion rate, divide the number of subscribers that took an action by the total number of subscribers your campaign was sent to. If you’re driving people to make a purchase or take action on your website, you can use a special piece of code called a UTM, or tracking code, to determine your conversion rate. Use a tool such as Google Analytics and their extensions to help you add the custom UTM for your campaign and add it to the link in your SMS campaign. With this code in place, each time someone makes a purchase on your site, you’ll know whether or not they came from the link in your campaign. Simple!
In business, conversion rates are information about the total number of visitors to a website – and the percentage of those visitors who have visited the site and purchased a product or service. In e-commerce, conversion rates are also marketing tactics with the aim of increasing conversions – that is, website visits that are paying customers. The act of enhancing the conversion rate in an online marketing campaign is known as conversion optimization. Conversion rates are important because a good conversion rate means a good conversion revenue for a company. This means that a company’s investment in online marketing will have a good return on investment.
There are many measurements of conversion rates, the most common of which are the total number of unique visits, known as UPCI, and the user count measurement period used by Google Analytics. Other conversion metrics are the number of new visits, known as SMQA, and the amount of downloads, known as CPA. Conversion metrics are also linked to other measures, such as the cost per click and the cost per sale. The important thing to note is that the total of all these measurements is called a measurement period.
A successful e-commerce website usually aims for a certain total number of clicks, conversions, or sales. By calculating a conversion rate, we can determine what kind of advertising is more profitable: increasing the total number of clicks or decreasing the total number of conversions. Ideally, the goal of any ad campaign should be to decrease the cost to the advertiser while increasing the conversion rates; the cost per click should primarily contribute to this end, while the cost per sale should take up a relatively large share. Therefore, the key to achieving a successful E-commerce web site is not only to improve the conversion rates, but also to maximize the revenue generated through those rates.
3. Click-through Rates
While valuable, this metric is only relevant if you’re sending out messages with links to a webpage. When you send a message including a link that should never be the end of the road. You should always track how many clicks your links are getting as it’s an indication of how engaging your content is. If the links you’re sending out are going unopened, that’s generally a sign that you’re not sending the most relevant material for your subscribers.
For example, Email marketing professionals usually discuss the relationship between email marketing and click-through rates (CTR) in one of their discussions. It is a common debate that SMS text messaging can have a direct effect on the CTR and it is said by many e-mail marketers that the occurrence of a “no response” from a subscriber might be attributed to a lack of interest generated by the text message. This “opinion” seems reasonable as no one would like to receive junk mails or newsletters, yet, the truth is that text messages cannot directly influence a consumer’s response to an advertisement. Hence, there is no need to mention the impact of mobile text messaging on click-through rates of a marketing campaign.
4. Number of Opt-Outs
With quantity comes quality. As much as you want to continue to grow your subscribers, you also want to ensure you keep subscribers. A quick note on text marketing. Every one of your subscribers must provide you with express written consent for you to send them messages. This also means they can choose to opt out, or no longer receive your texts, at any time. If you have large numbers of people opting out of your campaigns, that’s generally an indication that you’re not sending out the right kind of content. So, just as you track your monthly subscriber count, you should also monitor opt-outs for any unusually high spikes.
The highest number of opt-outs occurred in the rural areas, according to the analysis of SMS Marketing Benchmarks conducted by McKinsey. Those students living in the most remote communities were the ones that did not use mobile phones to access the internet on their computers during the first year of college. Yet, this trend seems to be changing with the increase of Internet connection. Some schools are installing high-speed wireless broadband networks in order to increase student usage of the technology at home. Wireless broadband networks are especially popular in the smaller rural schools that lack wired Ethernet systems.
5. Specific Keyword Measures
Should the call to action (CTA) asking people to join your subscriber list have a sense of urgency? Maybe it should feel more exclusive? Or what about if you offer a discount for joining? Hone in on exactly what convinces people to join your list by using keywords to test your CTAs. For example, a restaurant could create a series of two table tents asking people to sign up. One could say, “Text DESSERT to sign-up for our text message offers and get a free dessert!” Another could say, “Text VIP to sign-up for exclusive offers sent to your phone directly via text. You won’t find these deals anywhere else!” Both of these keywords can route to the same list, but by using separate keywords the restaurant will know what motivates their customers to sign up.
For those who are still learning the ropes regarding SMS marketing, a good understanding of how to use and interpret specific keyword measures is essential for success. It is in fact one of the most important and perhaps the most overlooked components of SMS marketing. However, it can have a profound impact on your company’s overall performance, especially if you make the wrong choices in how you implement it. SMS marketing benchmarks can help you see where you are currently at and which direction you need to go in order to achieve your business goals. In other words, understanding the impact of specific keyword measures is absolutely vital for any SMS Marketing professional.
6. Average Response Time
Lastly, we have an internal SMS marketing benchmark that can be used to audit your team’s efficiency. Because a large majority of texts are read so quickly, users tend to expect their messages to receive a response just as quickly. In order to achieve peak performance, you should strive to answer customer messages as quickly as they arrive. Aim for within the hour, and do your very best to never leave a text unread for more than 24 hours. Calculating your average monthly response time is important to keep yourself honest and ensure your providing the best customer service experience possible. In addition, measuring response time is a great way to check-in and determine if you’re sending texts at the most convenient time for your users. With a little trial and error, you’ll collect enough data to determine the optimum time to send your messages!
Measuring your KPIs constantly will help you stay ahead of any issues with your SMS campaigns. But at the end of the day, you should never be afraid to go right to the source for feedback. Sending Text to Vote Polls to your subscribers asking them if there’s anything you can do better will achieve two things. First, it will let your customers know you care about them and their opinions! Second, it’ll give you candid, concrete feedback that can go on to give you even more targeted benchmarks and measures. Data is the name of the game, and nobody knows that better than our team here at SimpleTexting.
The important thing to remember is that every industry and business is so different. It’s impossible to provide a magic number that serves as the gold standard for engagement. Our best tip is to consider your first couple messages your benchmark and aim to improve from there.
That’s why we’ve designed our dashboards to make it easy and intuitive to track all of these KPIs and more. Continually monitor your campaign performance with our tools and you’ll become a figures guru faster than you can say “PPPPPPP” ten times fast!
Average Response Time displays the time taken by the server to deliver each message. Average Response Time contains the time taken for each round trip request sent from the client device to the server. It is measured in seconds and is helpful in measuring the efficiency of a messaging system. The best and most ideal definition of Average Response Time (ERT) is the time required for one message sent from the client device to the server. The definition of the benchmark can vary according to the nature of the service benchmarking procedure and the message format used.
To wrap it up, If you want to market your business successfully and if you want your business to grow, you have to use all the tools available at your disposal. SMS marketing is one of these tools and so it makes sense that you also measure this form of marketing with some of the best Benchmarks of SMS Marketing. SMS Marketing Benchmarks is the most important for you to understand the strength of your mobile communication channel and to make sure that you choose the right ways of increasing the sales of your product or services. The Benchmarks of SMS Marketing can give you the necessary information so that you can choose the right SMS marketing plans for your business.