“Delivering authentic brand experiences that drive loyalty and achieve customer connections through a deep understanding of customer behaviors” is the strength of SMS Marketing states Fran Sharkey, CMO of SMS Marketing Services, Inc. However you must measure metrics to increase ROI.
The use of mobile marketing has increased by 6.9% in the world business sector. Furthermore, data shows that in 2012, 17.6 billion SMS texts were sent! The power of this relatively recent marketing strategy is limitless.
Sendmode, an award winning business messaging service, will set up an account for your business in minutes, with free credits to get you started! Sendmode will also provide support and assistance in getting your marketing campaigns underway! Once familiar with this innovative, highly successful marketing tool, the essence is to maintain an ever increasing return of investment. In order to do so, it is crucial to monitor your metrics.
How do you track metrics?
- Do you use paper, a spreadsheet, software?
- Are you proactive with your results?
5 Crucial Tips re Measuring Metrics:-
How much advertising and manpower do you expend acquiring new clients? Examine your monthly advertising budget, together with payroll costs associated with new sales. Measure this against new business at the end of the month.
Maintain a daily spreadsheet to record how many queries you receive via internet, telephone and referred business. Also ensure to include a separate stream for business converted from coupons, promotions and discounts. This metric will reveal the success rate of each of your different marketing streams.
- Conversion Rate
Simply…. how many queries become sales. Calculate this by dividing your daily queries by your sales.
- Churn Rate – % of Customers Opting out & Unsubscribing
Customer loyalty is a key factor in maintaining a healthy ROI. Unfortunately, however, losing customers is a fact of business life! This metric will instantly highlight the necessity to adjust and tweak your marketing campaigns to reach their full potential.
- Comparative Revenue
Compare revenue of each of your income streams in order to highlight which is most effective and act accordingly.
Contact Sendmode today for all your SMS Marketing queries on tel 087 550 5108 or email firstname.lastname@example.org
Thanks for reading our blog on how to measure metrics to increase ROI!