In today's marketplace, businesses must leverage every marketing channel to captivate their target audience effectively. Each channel offers distinct advantages and considerations.
Your POS System will give you details on what is selling now. Use that info to start your message.
Let us explore the compelling features of SMS, email, and Facebook/Instagram marketing, weighing their costs and benefits to help you make informed decisions for your business.
Some studies show that people who read business messages do give businesses a high success rate. The big problem with electronic messages is getting people to read them. A typical rate today is about 22% open rate, with about 55% of those who read it action it.
The fact of life is that you often get what you pay for in advertising. Hold this thought while we go through some options.
The Appeal of SMS Marketing
SMS marketing is probably the dearest electronic marketing option in our client base. Still, it provides some intriguing options with several compelling features that appeal to businesses seeking to engage their customers directly and instantly.
Immediacy and High Open Rates
SMS marketing will capture customers' attention immediately. Typically, they are read within minutes of receiving them. Additionally, SMS campaigns boast impressively high open rates, often exceeding 90%, surpassing email and other marketing channels.
I have a client who has a sandwich bar. Come to 2:00 p.m. if they are looking at a heap of sandwiches that will be dumped if not sold. They send out specials by SMS. Email will not help much if you need to move those sandwiches in less than an hour. Only SMS can do it.
The Cost Considerations of SMS Marketing
Here's a typical breakdown of the expenses for prepaid SMS bundles that would be valid for 12 months of purchase:
| Bundle | Cost $ | Each Cent |
|---|---|---|
| 1,000 SMS | $115 | 11.50 |
| 2,000 SMS | $142 | 7.10 |
| 5,000 SMS | $325 | 6.50 |
| 10,000 SMS | $585 | 5.85 |
| 50,000 SMS | $2,475 | 4.95 |
| 100,000 SMS | $4,500 | 4.50 |
Once purchased, it is really about using them or losing them. I had a client who lost when they weren’t using as much as they thought they would.
As you can see, the SMS cost is higher for companies that send a few SMS messages.
Many would consider $600 a year justified to send 1,000 SMS messages monthly to engage with their customers directly and immediately.
The Power of Email and Facebook Marketing
While SMS marketing offers unique advantages, email and Facebook marketing present compelling alternatives that can deliver substantial results without breaking the bank.
Cost-Effectiveness and Scalability
One of the most significant advantages of email and Facebook marketing is their cost-effectiveness, especially compared to traditional marketing methods or SMS campaigns. These options do not incur much cos, making them convenient for businesses with limited budgets. Email and Facebook marketing are highly scalable, allowing you to reach a larger audience without a huge additional cost. There is no cost for most of our customers; it’s free of charge. It's pretty hard to argue with that!
Rich Multimedia Content and Engagement
Email and Facebook marketing campaigns enable you to showcase your products or services through rich multimedia content, captivating visuals, and engaging storytelling. This approach captures your target audience's attention and fosters deeper connections and brand loyalty. Make sure you take photos.
Targeted Reach and Personalization
Both email and Facebook marketing platforms offer robust segmentation and targeting capabilities. Most people find that a standard message to all works, but it's nice sometimes if you have a good list to tailor your specific audience segments. This personalisation level enhances your communications' relevance and strengthens customer relationships.
ROI (Return On Investment)
This is tricky. So many factors come into it. However, we can discuss general differences between SMS, email, and Facebook marketing regarding how quickly you might see results.
-
SMS Marketing: SMS boasts high open rates, meaning you'll likely see a faster response to your promotions. Did that afternoon text about discounted sandwiches go straight out of your inventory? The ROI for that campaign is pretty clear!
-
Email & Facebook Marketing: Email and Facebook marketing rarely provide immediate sales figures; unlike SMS, they can be incredibly effective in building brand loyalty and driving long-term customer engagement. The ROI might not be as instantly measurable, but loyal customers who return for repeat purchases are a valuable asset.
Pro Tip: Use Unique Discount Codes!
Here's a powerful strategy to track the effectiveness of each marketing channel: assign a unique offer for each campaign. This allows you to see what is working.
Conclusion
Today, in retail, you must leverage every available channel to captivate your target audience effectively.
