<b>1.1. ROI Reports</b>
You need to use your <a href="https://www.txtimpact.com/sms-marketing">SMS Marketing</a> 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.
<b>1.2. Opt-In and Opt-Out Rates</b>
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.
<b>1.3. Leveraging Graphs and Charts </b>
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.