Economy
A Complete Guide To Launching A Successful SMS Marketing Campaign
Today, many people use smartphones, which have already become an extension of their bodies. Also, they’re becoming more comfortable communicating with businesses via mobile devices.
So, you better start SMS marketing now, or you’ll miss many opportunities to make sales. It can be a great way to improve your social marketing, allowing you to reach potential and existing customers in real time via targeted messaging. But first, what’s SMS marketing?
SMS marketing refers to how marketers deliver marketing messages via text message. It’s an opt-in campaign requiring people to subscribe to receive notifications. Common types include the following:
- Remarketing
- Surveys
- Personalized promotions
- Exclusive deals and discounts
SMS marketing also has higher open rates than other forms of marketing, particularly email marketing. The average open rate of the latter is around 15-30%, while SMS exceeds 90%. And you can even reach up to 100% with the help of tools such as Unlimited Ringless voicemail.
So, where should you start? This post will show you a step-by-step process to guide you in implementing a successful SMS marketing campaign. Read on to learn more!
- Pick The Right SMS Platform
The first step is all about deciding which SMS engine is best suited for executing marketing campaigns. There are plenty of solutions out there in the market. However, not all of them are created the same.
Worse, some solutions may cost you more in the long run without delivering the desired ROI. And how do you distinguish real gold from fake ones? Consider the following when choosing an SMS provider:
- Message Delivery: A message should be sent at the right time—not too late, especially when there’s time-sensitive information involved. Also, it should be accurate, meaning there’s little to no chance of sending a message to incorrect phone numbers.
- Ease Of Use: Do you find it easy to create custom messages? Can you schedule messages and attach files easily? If you agree to these questions, you might’ve found the SMS engine your business needs.
- Integration: You might have a few business tools in place, and one of them is probably a customer relationship management (CRM) system. Ensure your SMS engine can integrate with your CRM so that you can access it while on the go.
- A Test Drive: Never go for a solution that remains undiscovered. Make sure you can try it out for free to see if it’s worth your time and money and how the system works under the hood.
- Good Reputation: Last but certainly not least, check the SMS provider’s reputation. Visit their website, read some testimonials, or dig into the conversation through their social media accounts. This is to find out whether they’re dedicated or not.
You may also consider using additional supporting tools like an auto dialer. It aims to turn your existing system into a powerful business dialing platform.
- Get An SMS Number
Getting a dedicated SMS marketing number sets you up for success. SMS providers often require businesses to invest in a virtual number to prevent multiple brands from using the same number.
Here are your options:
- Toll-Free Numbers: These are standard numbers for most brands for convenience and deliverability. They’re easy to activate and promote mass texting.
- 10-Digit Long Codes (10DLCs): 10DLCs are a new option for businesses. They’re ideal for non-time-sensitive messaging and low-volume texting.
- Short Codes: These numbers are a consumer favorite because they’re easy to remember. However, they’re expensive and have a lengthy approval process.
- Set Up Your SMS Subscriber List
Without a solid and targeted SMS subscriber list, all your marketing efforts will likely go down the drain—something you wouldn’t want to happen.
Encouraging potential and existing customers to opt in can be difficult, time-consuming, and costly. Even without an SMS program, collecting opt-ins is a great jumpstart for any brand that needs to do it.
Here are a few tips to encourage customers to join your subscriber list:
- Create an offer that’s exclusively available to subscribers.
- Give subscribers a time-sensitive promotion (e.g., Buy One, Get One).
- Deliver information essential to customers.
- Introduce new items to grab the attention of potential and existing customers.
However, setting up an SMS subscriber list isn’t easy. Unlike other forms of marketing, particularly social media, SMS requires consent. What does this mean? You have to ask customers and prospects for permission before adding them to your list and sending them marketing messages.
In the U.S., SMS marketing is regulated by the Federal Communications Commission. This enforces laws like the Telephone Consumer Protection Act (TCPA) of 1991, which protects consumers from intrusive and abusive telemarketing practices.
- Create An Automated SMS Welcome Message
Do you believe in the saying ‘first impression lasts’? You should be! That’s why building an automated welcome message is crucial. This way, you’re ready when customers and prospects start opting in.
A good welcome message educates new subscribers about your products and services, familiarizes them with your content, and encourages them to make their first purchase. Out of all automated tools, the welcome message often generates the most revenue for many brands.
Here are some tips to follow when creating an SMS welcome message:
- Set it up and make sure it sends a welcome message as soon as someone subscribes to your list.
- Don’t forget to include the name of your company. This is a way of introducing yourself to your customers and prospects.
- Make sure your messages are personalized and cater to your customers’ specific needs. Address them using their first name for a personalized touch.
- Thank subscribers when they join your list.
Aside from these tips, ensure your SMS welcome message has a clear call to action (CTA). CTAs are words or phrases that encourage audiences to take the action you want them to do (e.g., ‘Subscribe now and get a 15% discount on your first purchase!’).
- Expand Your SMS Subscriber List
Once you have a solid SMS subscriber list, you’ll need a strategy to grow and expand it. Always look for opportunities to encourage customers and prospects to opt in without compromising their experience. Here are some tips that may help you accomplish that:
- Leverage The Check-Out Experience: Including the check-out step in your SMS consent collection allows customers to receive SMS campaigns while processing their orders. This is a non-intrusive way to motivate customers to subscribe to your list.
- Incentivize Website Visitors: When creating an SMS sign-up form for your site, ensure you target those already part of your email list, provided you have one. Then, include eye-catching discounts or freebies to encourage them to subscribe.
Follow these two simple tips to motivate your audience to subscribe to your SMS list without sounding intrusive.
- Measure Initial Performance Rates
Do you want to find out which strategy works best for your business? If you do, you need to measure your initial performance rates on a regular basis.
You need to set your eyes on the following key performance indicators (KPIs):
- Delivery Rate: This refers to the percentage of SMS messages delivered successfully to your contacts. Also, this is one of the most crucial KPIs SMS marketers have to monitor. The average delivery rate for SMS marketing is 98%.
- Click Through Rate (CTR): CTR is the foundation of your campaign’s success. It refers to the percentage of link clicks to the SMS messages you delivered. The average CTR for SMS marketing is 36%.
- Opt-Out Rate: This vital KPI refers to the percentage of subscribed contacts who unsubscribe to your SMS list. It shows that some of your subscribers aren’t interested in your content.
- Conversion Rate: This critical KPI refers to the percentage of subscribers who made a purchase. The average conversion rate for SMS marketing is 29%. It’d be best to aim higher than this to ensure a steady flow of revenue.
If your SMS messages get subpar digits, consider making necessary adjustments through A/B testing. Focus on elements like message type, number of messages, and timing.
- Send Your First Campaign
Once you’re done collecting subscribers for your SMS list, you may start your first SMS campaign. Make sure you include the following details:
- Company name
- One time-sensitive CTA
- The first name of the subscriber and other details that’d make the message more personalized
- A friendly and conversational tone
- Value
Here are some examples you might want to consider for your first SMS campaign:
‘Blue Green Flask: These products are getting retired, which means you can get a 30% discount while supplies last! Start shopping now: www.bluegreenflask.com/clearancesale30. Reply STOP to opt out.’
‘Noun: 30% off on ALL dry shampoos and conditioners! Use the code SHAMCON at check-out to avail of the discount. Excludes custom kits and value. Shop: www.noun.com/shamcom. Reply STOP to opt out.’
‘Borough Linen: We’re grateful to you! And as a way to give you thanks for your recent purchase, we’re giving you USD$50 credit on your next order using the code: GIFT50. Shop now: www.boroughlinen.com/gift50. Reply STOP to opt out.’
What makes these examples effective is that they can show clarity and conciseness while conveying the message they want to deliver.
If you want to improve your messages, add a GIF or image below 600KB. This converts SMS to MMS (multimedia messaging service), which limits you to 1,600 characters. However, remember that MMS costs more than SMS under many plans.
- Recover Abandoned Shopping Carts
Experts believe that over 50% of online shoppers leave their carts unattended. This is an opportunity to recover lost revenue. What’s great is that SMS is one of the most effective ways to motivate customers to complete their orders.
Here are some examples of SMS campaigns for cart abandonment:
‘Hey Jan! I noticed you left some items in your cart. Here’s 20% off to help you complete your checkout now! Check it out here: mycookingfantasy.com/potsandpans.’
‘Hi Mark, you left some great items in your shopping cart. Here’s a free shipping voucher just for you: bit.ly/5Fg4B. This exclusive offer will expire in three days. Reply STOP to opt out.’
- Use SMS To Announce New Products
Keep your subscribers updated by sending them an SMS message whenever you release new collections, products, and services. And to make everything more special, consider offering them early access when new items drop.
Here are some examples of SMS messages announcing new products and services:
‘KITE: Thank you for subscribing! You’ll be among the first to shop for our upcoming product launch! Before anything else, here’s a 25% discount, so shop now!’
‘Banana Floss: New Coco Collection! You’ll surely fall head over heels for our tropically luscious Coco Daiquiri and sunny Beach Copacabana set! Grab some before they’re gone! Shop now: bananafloss.com/cococollection.’
- Engage Customers Using Time-Sensitive Messages
Reaching customers at the right time can take your SMS campaign to the next level. This is where time-sensitive campaigns, such as a price drop or back-in-stock alert, come in.
Price drop alerts are ideal for SMS, as it requires contacts to act as fast as possible. Send these messages to people on your list to make them exclusive to mobile users. Here’s an example of a price drop alert:
‘CookingWare: PRICE DROP ALERT! The 15-pc stainless steel premier set was USD$760—now USD$380! Get yours now before they’re gone: cookingware.com/12Ho11goiT23.’
Back-in-stock alerts inform subscribers that the items previously out of stock are back and ready to ship. Here’s an example of a back-in-stock alert:
‘Hey, Martin, our 15-pc stainless steel premier set is back in stock! Make cooking more fun with nothing but the best. Shop now before they’re gone: cookingware.com/12Ho11goiT23.’
- Use SMS For A Great Post-Purchase Experience
SMS marketing is effective not only for increasing sales but also for improving post-purchase experiences. Including transactional SMS messages, like billing updates, appointment reminders, and shipping delay alerts, may help you reach and exceed customer expectations.
Once you complete the delivery, you may use SMS to send valuable details directly to a customer’s phone instead of their email inbox. These may include the following:
- Share tips and tricks on how to use the product in the best way possible
- Share a link (e.g., how-to guides or tutorial videos)
- Highlight customers who use the product
- Send reminders regarding their loyalty points or VIP status
Final Words
SMS marketing is one of the most effective ways to reach and interact with potential and existing customers. They also have one of the highest open rates, around 95-98%. This means that for every 100 successfully delivered SMS, almost all are opened.
To ensure the success of your SMS campaigns, follow the best practices discussed above. These include building a subscriber list, creating welcome messages, measuring performance, delivering time-sensitive information, and personalizing messages.
Economy
Again, OPEC Cuts 2024, 2025 Oil Demand Forecasts
By Adedapo Adesanya
The Organisation of the Petroleum Exporting Countries (OPEC) has once again trimmed its 2024 and 2025 oil demand growth forecasts.
The bloc made this in its latest monthly oil market report for December 2024.
The 2024 world oil demand growth forecast is now put at 1.61 million barrels per day from the previous 1.82 million barrels per day.
For 2025, OPEC says the world oil demand growth forecast is now at 1.45 million barrels per day, which is 900,000 barrels per day lower than the 1.54 million barrels per day earlier quoted.
On the changes, the group said that the downgrade for this year owes to more bearish data received in the third quarter of 2024 while the projections for next year relate to the potential impact that will arise from US tariffs.
The oil cartel had kept the 2024 outlook unchanged until August, a view it had first taken in July 2023.
OPEC and its wider group of allies known as OPEC+ earlier this month delayed its plan to start raising output until April 2025 against a backdrop of falling prices.
Eight OPEC+ member countries – Saudi Arabia, Russia, Iraq, United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman – decided to extend additional crude oil production cuts adopted in April 2023 and November 2023, due to weak demand and booming production outside the group.
In April 2023, these OPEC+ countries decided to reduce their oil production by over 1.65 million barrels per day as of May 2023 until the end of 2023. These production cuts were later extended to the end of 2024 and will now be extended until the end of December 2026.
In addition, in November 2023, these producers had agreed to voluntary output cuts totalling about 2.2 million barrels per day for the first quarter of 2024, in order to support prices and stabilise the market.
These additional production cuts were extended to the end of 2024 and will now be extended to the end of March 2025; they will then be gradually phased out on a monthly basis until the end of September 2026.
Members have made a series of deep output cuts since late 2022.
They are currently cutting output by a total of 5.86 million barrels per day, or about 5.7 per cent of global demand. Russia also announced plans to reduce its production by an extra 471,000 barrels per day in June 2024.
Economy
Aradel Holdings Acquires Equity Stake in Chappal Energies
By Aduragbemi Omiyale
A minority equity stake in Chappal Energies Mauritius Limited has been acquired by a Nigerian energy firm, Aradel Holdings Plc.
This deal came a few days after Chappal Energies purchased a 53.85 per cent equity stake in Equinor Nigeria Energy Company Limited (ENEC).
Chappal Energies went into the deal with Equinor to take part in the oil and gas lease OML 128, including the unitised 20.21 per cent stake in the Agbami oil field, operated by Chevron.
Since production started in 2008, the Agbami field has produced more than one billion barrels of oil, creating value for Nigerian society and various stakeholders.
As part of the deal, Chappal will assume the operatorship of OML 129, which includes several significant prospects and undeveloped discoveries (Nnwa, Bilah and Sehki).
The Nnwa discovery is part of the giant Nnwa-Doro field, a major gas resource with significant potential to deliver value for Nigeria.
In a separate transaction, on July 17, 2024, Chappal and Total Energies sealed an SPA for the acquisition by Chappal of 10 per cent of the SPDC JV.
The relevant parties to this transaction are working towards closing out this transaction and Ministerial Approval and NNPC consent to accede to the Joint Operating Agreement have been obtained.
“This acquisition is in line with diversifying our asset base, deepening our gas competencies and gaining access to offshore basins using low-risk approaches.
“We recognise the strategic role of gas in Nigeria’s energy future and are happy to expand our equity holding in this critical resource.
“We are committed to the cause of developing the significant value inherent in the assets, which will be extremely beneficial to the country.
“Aradel hopes to bring its proven execution competencies to bear in supporting Chappal’s development of these opportunities,” the chief executive of Aradel Holdings, Mr Adegbite Falade, stated.
Economy
Afriland Properties Lifts NASD OTC Securities Exchange by 0.04%
By Adedapo Adesanya
Afriland Properties Plc helped the NASD Over-the-Counter (OTC) Securities Exchange record a 0.04 per cent gain on Tuesday, December 10 as the share price of the property investment rose by 34 Kobo to N16.94 per unit from the preceding day’s N16.60 per unit.
As a result of this, the market capitalisation of the bourse went up by N380 million to remain relatively unchanged at N1.056 trillion like the previous trading day.
But the NASD Unlisted Security Index (NSI) closed higher at 3,014.36 points after it recorded an addition of 1.09 points to Monday’s closing value of 3,013.27 points.
The NASD OTC securities exchange recorded a price loser and it was Geo-Fluids Plc, which went down by 2 Kobo to close at N3.93 per share, in contrast to the preceding day’s N3.95 per share.
During the trading session, the volume of securities bought and sold by investors increased by 95.8 per cent to 2.4 million units from the 1.2 million securities traded in the preceding session.
However, the value of shares traded yesterday slumped by 3.7 per cent to N4.9 million from the N5.07 million recorded a day earlier, as the number of deals surged by 27.3 per cent to 14 deals from 11 deals.
Geo-Fluids Plc remained the most active stock by volume (year-to-date) with 1.7 billion units sold for N3.9 billion, trailed by Okitipupa Plc with 752.2 million units valued at N7.8 billion, and Afriland Properties Plc with 297.5 million units worth N5.3 million.
Also, Aradel Holdings Plc remained the most active stock by value (year-to-date) with 108.7 million units worth N89.2 billion, followed by Okitipupa Plc with 752.2 million units valued at N7.8 billion, and Afriland Properties Plc with 297.5 million units sold for N5.3 billion.
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