Measuring and tracking your SMS marketing campaign is critical to its long-term success. In doing so, you will be able to identify what works and what needs improvement. What follows are the three key stats to measure. Check these stats while your campaign is in progress if you’re curious, but always allow a campaign to finish before you do your final analysis. The worst thing to do with your stats is draw the wrong conclusion (the whole lies, damn lies, and statistics thing)
List Growth Rate: The number one goal of nearly every campaign – grow the list! This stat can measure the speed with which your SMS campaign is growing, further it can be used to compare with past activity.
Opt-Out Rate: While monitoring the growth of SMS campaign is important (and fun), it’s good to track how many subscribers are opting out, or churning. If your opt-out rate goes up raise a red flag because something you are doing is not connecting with your subscribers. We all make mistakes; but when we do we need to recognize them and hopefully learn from them
Redemption Rate: When you are running an incentivized SMS Marketing campaign, such as a mobile couponing campaign – how many of your subscribers act upon your message is an essential metric. Keeping track of redemption’s allows you to calculate important things like Return-On-Investment (ROI) and Cost-Per-Acquisition (CPA)
Any good SMS Marketing Service Provider will provide you with these stats — so make sure to use them!