Top 4 Things to Measure in SMS Marketing
Measuring and tracking your SMS campaign is critical to its success. By doing so, you will be able to identify what is working and what needs improvement. Below are the top four thing to measure during an SMS campaign. We recommend that these measurements be done after every SMS campaign to give you the most insight.
List Growth: Who doesn’t want more subscribers in their SMS campaign? With this measurement you will be able to gauge how fast your SMS campaign is growing, and compare this to past activity.
Formula: Subtract the past amount of subscribers from the current amount of subscribers. Then divide that by the past amount of subscribers.
Churn Rate: While tracking the growth of your SMS campaign is important, it’s also good to track how many subscribers you are losing, which is referred to as churn. You can use this measurement to gauge which text messages aren’t perceived by your subscribers as being valuable enough to remain a subscriber.
Formula: Divide the amount of subscribers that leave your SMS campaign by the total amount of subscribers.
Redemption Rate: How successful your SMS campaign is depends on how many subscribers take action because of it. By measuring this on a per text message basis, this will help you understand which types of text messages work and which ones need more attention.
Formula: Divide the amount of subscribers that redeem the promotion by the total amount of subscribers.
Cost per Redeeming Subscriber: This measurement will tell you exactly how much you are paying for each redeeming subscriber within your SMS campaign.
Formula: Divide the cost per delivered SMS message by the redemption rate.