The success of any marketing campaign hinges on conversation rate and return on investment (ROI). If your marketing campaign hasn’t got a good conversion rate, then something must be going wrong somewhere along the line.
A high conversation rate means that the consumers that you’re targeting are following through with an intended action; be it to check out a website, use a promotion, to complete a survey. When it comes down to statistics, one conversion is one success.
All forms of marketing campaigns have different expected conversion rates, and more often than not, they are measured as successful or not by the conversation rates that they create. For SMS marketing, with a properly optimised SMS campaign, the potential of a good conversion rate is quite exceptional.
What Constitutes a Properly Optimised SMS Campaign?
A properly optimised SMS campaign is one that has been optimised to deliver a good conversion rate. Unlike a simple update to inform your customer list of something new, this is created to generate a good conversion by getting your consumers to complete something. In many cases, this is centred around sales, and getting a good ROI.
While there are many factors that go into a properly optimised SMS campaign, there are three critical ones:
- Timing – The time that you release the campaign plays a big role in correct optimisation. For promotions and offers, often time is of the essence, and getting the campaign out there at the right time is crucial.
- Execution – The execution is critical for excellent conversation. The design needs to be attractive and enticing. One of the biggest aims is to catch the attention of customers and make them take notice.
- Value – Value is a key part of any campaign but is of particular importance in optimised campaigns. For a great conversion rate, value is essential in everything that’s being offered.
What Can Influence the Conservation Rates of SMS Marketing?
Conversion rates in SMS marketing depend on a lot of things and knowing where you stand with these major influencers will help you to create an estimated expectation of the conversion rate. When trying to predict conversion, always bear these three things in mind:
What You’re Promoting
Your expected conversion rate will depend heavily on what your promoting. Depending on your audience, offers and promotions may be much more likely to land excellent conversions than surveys, for example. With an offer or promotion, you establish your value at the very start, providing a major incentive to click through and convert to a sale. When a promotion is released at the right time, it can lead to an exceptional conversion rate.
Type of Campaign List
How many consumers react to your message will depend on your campaign list. How optimised this is to deliver conversion will depend on your prior preparation, and also the influence of your other marketing strategies. A strong campaign list, will be more likely to deliver conversions, than one that doesn’t hit the nail on the head when it comes to your target audience and what you’re offering.
Quality of Call to Action
If a conversion rate relies on anything, it’s the quality of the call to action that you include in your message. The call to action is what gets consumers to act and respond to your message. A strong call to action will urge customers to move forwards and eventually add to the list of conversions. A poor call of action will leave consumers unsure of what to do next to make the most of what you’re offering.
What Conversion Rates Can You Expect?
One of the major benefits of SMS marketing is the almost guaranteed open-rate, which is incredibly high when you pit it against the other top marketing strategies. Within the first 3 minutes of a text message being sent, 90% of the text messages are read. Overall, this ends up with a 98% reading rate. This all but guarantees that your message is going to be read, or at the very least, opened.
But does this reflect in the conversion rates?
It is difficult to pinpoint an exact figure that carries across the board with expected conversion rates. However, we can look at the statistics of how past SMS marketing campaigns have gone.
According to some sources, you can expect the conversion rate of an SMS campaign to sit at around 45% – which is an exceptional number considering the low cost of SMS marketing when compared to other forms of marketing.
Additional research that was completed, puts the average response rate of an SMS campaign that was sent in bulk, above 30%. Again, this is an exceptional number that truly separates SMS marketing and puts it almost in a league of its own.
So, which one is correct?
There are so many variables at play when trying to figure out even a rough estimate of conversion rates. However, there is one thing that is in common with all conversation rate averages – the results are very good.
If there is one thing that you can expect from a properly optimised SMS campaign, its that you’re going to be on the receiving end of a very good conversion rate.
How Can You Keep Track of Conversion Rates?
From bulk SMS messaging to comprehensive campaign analytics, the best way to keep track of your own SMS conversion rates is by using leading SMS marketing software. This puts the control back in your hands when it comes down to controlling the influencers that impact your campaign and ensuring that everything is in place for a professional optimised SMS campaign.
Test message marketing has the potential to deliver exceptional results and a larger number of conversions, but the success of your campaign all comes down to the leg-work you put in first. The capability is near limitless, but the response from your consumers falls to just how optimised your campaign is.