How To Measure Campaign Effectiveness?

In order to know what works and what doesn't, it is essential to monitor and analyze the success of any marketing campaign. And SMS marketing is no exception to that. You can redefine and structure your next campaign based on your analysis. There are various incredibly easy methods available to measure the results. Whatever method you choose, ensure that you take into account all the important numbers that matter for your business, and that will guide your upcoming text message marketing efforts.

1.1. ROI Reports

You need to use your SMS Marketing software to generate reports that reveal your return on investment. You might have different objectives for distinct campaigns, like the promotion of a new product, increase the followers' base in social media profiles, increase sales, and more. A simple formula to calculate ROI is
Total cost spent to run the campaign/ Number of desired actions taken = Cost per action

For example, if you spend $500 on a campaign, and based on your analytics a total of 20 sales were made, then your cost per action is $25. If you've earned more than $25 profit on these sales, then you've got a higher ROI.

1.2. Opt-In and Opt-Out Rates

In addition to ROI, it is also important to take care of the opt-in and opt-out rates for each campaign. If there is a huge increase in opt-out rate, it might indicate the failure of the campaign among the subscribers.

Always be mindful of the various factors that have a direct or indirect impact on the opt-in and opt-out rates.

1.3. Leveraging Graphs and Charts

To understand your SMS analytics and performance, you will need to dig deeper into a few metrics. This can help you understand what parameters are most successful and what needs to be optimized for your future campaigns. A few important metrics which need to be monitored are listed below

Open Rates
Response rate
Cost Per Acquisition
Click-Through Rate
Cost Per Click

The SMS marketing software will represent all these data in graphs or charts for easy understanding.

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