SMS marketing pays off for a very simple reason: it has a 98% open rate. That beats any other medium. But how much does sms marketing cost? Pricing varies depending on certain factors:
- The platform you choose
- How many subscribers you want to reach out to
- How many messages you intend to send to those subscribers
- How customizable your SMS marketing campaign needs to be
- How much manpower and time you intend to implement
- Dedicated short codes vs. Toll-free numbers
Keeping those factors into consideration can make a difference in making your SMS marketing as cost-effective as possible. If you want to go to the cold numbers, you can explore Trumpia’s text message software pricing plans. Our prices are broken down depending on how many messages you need per month, plus a detailed list of all the features you can access to. Free trial is also available.
If you want to learn more on SMS marketing costs, ROI, and other details, keep on reading this article!
Calculating How Much SMS Marketing Costs
There’s a common formula to calculate the cost of SMS marketing. It’s quite simple: divide the number of SMS messages you send with the total cost of your campaign. However, this formula is quite inaccurate. First, because your costs would be distributed very randomly. And second, because it doesn’t contemplate other upfront costs; like your texting software. Some other one-time costs, like training your team and other additional tools, are not added in either.
One good thing about using Trumpia plans is that you get all that you need in one place, at one price. The monthly cost of each plan depends on how many messages you intend to send. And the plans cover all the tools and the software you need to start an SMS marketing campaign right away. Our texting software doesn’t require coding knowledge, which also decreases the training time and the learning curve for your team members.
How to Calculate SMS Marketing ROI
You can calculate SMS Marketing ROI by taking the total revenue from each campaign and subtracting the total text marketing cost per campaign. This formula can tell you whether your SMS marketing campaign directly generates a measurable revenue.
Your SMS marketing campaigns should also offer added value, like a promo code or a premiere to a new product. You can segregate those campaigns pretty easily. That way, you can determine how many subscribers received your offer or read your shoutout, and how many reacted; which is, definitely, an ROI signal.
Do you still want to know more about SMS marketing ROI? Check out our calculator here:
Trumpia is your all-in-one solution for SMS marketing. If you want to know more about our texting software or start a free trial, call or text 1-888-707-3030.