OpenMarket – January 31, 2018
Being able to see and demonstrate ROI is vital for any business decision. Our new SMS ROI calculators help you see the impact text messaging can make to your organization.
Different communications channels have different strengths. And when it comes to evaluating your communications strategy, you need the facts specific to your own organization to build a business case.
In the case of SMS, we have seen that adding text messaging to your existing comms stack alongside email and voice, can potentially save you a stack of cash, simply by tweaking your tactics.
That’s why we’ve built our text messaging ROI calculators, which focus on five areas where SMS can save your organization some serious dollar: appointment reminders, delivery notifications, password management, proactive messaging, and marketing and promotions.
We’re going to help you to calculate exactly how much.
Save a stack with better appointment reminders
Missed appointments are annoying – certainly. But beyond that, organizations need to consider to how much damage they’re causing financially.
Think about the number of customer appointments you schedule every month – in fact, enter it into our calculator. Missed appointments can account for 5-8% of total bookings on average. So don’t be surprised if your potential savings look too good to be true.
Happily though, they are true. And it’s hard data you can share with the rest of your team.
Arrive on time with clear delivery notifications
Undeliverable packages can be a nightmare for you and your customers. Customers are inconvenienced because they don’t get their purchases on time, and you’re left footing the bill for the time, fuel, inbound calls and more.
So imagine the cost savings that could be had (like more efficient drivers, fewer repeat deliveries, and less pressure on your call center), simply by reducing the number of missed deliveries.
Well, you no longer have to imagine; the SMS delivery notifications calculator spells it out in plain figures. What’s more, because SMS is so efficient, it’s ridiculously cheap. So you’ll not only be saving on the deliveries, you’ll likely save on communications costs, too.
Avoid costly phone calls with automatic password management
Processing log-in issues manually over the phone can be costly. And you can be sure it causes your customers unnecessary hassle and stress.
So when you consider that a single call to your call center can average between $6-$8, your current volume of calls could be costing you a small fortune.
Offer an option for customers to reset their passwords using SMS authentication however, and you’ll save a significant amount of time and money in one fell swoop. You’ll also notice happier customers – a double win.
If you’d like to add up what that means in dollars and cents, feel free to enter your details into the password management ROI calculator and we’ll do the math for you.
Reduce waste with proactive messaging
Chances are you probably understand your customers well enough to pre-empt a lot of their queries or issues before they escalate to a call center, or indeed a trip into store.
But doing it en masse has always been a challenge. Even email – which is relatively easy to work with – rarely gets opened quickly. You’re fighting for precious inbox space among countless other promotional emails, so it’s no wonder your message might not be read in a hurry.
In the meantime, your customer has moved on. The offer is no longer relevant anyway. And just like that, you’ve missed your moment, and wasted your spend.
(How much spend exactly? Enter your details into the proactive customer service ROI calculator and we’ll tell you.)
Enter SMS. It’s not only cheap, but it can be deployed on a mass scale alongside your existing comms. You can target your customers at exactly the right time and place, avoiding that wastage. (We call these mobile moments empathetic interactions, and it’s what proactive customer service is all about.)
Make more money using SMS for marketing and promotion
Sending special offers and promotions to customers is a great way of keeping customers loyal. But a word for the wise: context is everything.
For instance, if you send someone a deal for coffee and a croissant at 7pm while they’re putting the kids to bed, it’ll likely get ignored. Make it 7am while they’re on the train into work, you’ll make a sale.
SMS gives you the ability to be that specific, and relevant. And when you consider most messages will get read within seconds, it’s no wonder the ROI payoff on using text for your sales and promotion messages arrives so fast.
Fact: executed correctly, SMS gives better ROI
Nobody’s saying you should use SMS all the time, for everything. But there are some cases where it can really deliver – the trick is knowing where.
Understanding the ROI of text messaging in your own organization, and how it works with your existing comms strategy, is vitally important. What works for some organizations, may not work for you. Which is where our calculators come in.