How to Calculate and Maximize WhatsApp Marketing ROI?

WhatsApp marketing ROI is not as simple as you understand. When was the last time you opened a WhatsApp message? Don’t remember? No problem. WhatsApp’s magic needs attention. More than 2 billion people use the tool to communicate with friends and family. It’s no wonder that companies are changing personal tools into marketing platforms. 

Indeed, how can you achieve desired results beyond just sharing messages?

WhatsApp marketing ROI is essential in today’s digital era. The correct integration of approaches, tools, and KPIs is required to enhance WhatsApp’s ROI. Return on investment (ROI), whether turning clicks into sales or making sure a single amount spent creates outcomes.

You can effectively use tools for your business by knowing its marketing methods. Let’s examine proven practices to leverage them and enhance the business’s bottom line.

Understanding KPIs for WhatsApp Marketing

WhatsApp marketing KPIs are leveraged to check performance measurement tools. Key performance indicators (KPIs) are a way to check and monitor the WhatsApp marketing campaign’s efficiency. These indicators help the business optimize and regulate marketing investments. Plus, these KPIs encourage the brand to keep pace with lead acquisition aims, marketing, and business objectives.

Why Observe the Efficiency of WhatsApp Marketing Campaign?

Needs of the marketing world, like the age-old adage ‘What can’t be checked can’t be enhanced?’ are similar even today. Monitoring marketing campaign effectiveness is not just a business need but a critical job for achieving success, especially in the present economic climate.

Beyond that, the Whatsapp marketing campaign drives more business by focusing on cost-friendly, high-quality lead creation.

The results of the WhatsApp campaign, while measuring as a marketing leader, achieve the following details to answer key questions:

• Which industries are creating desired outcomes?
• Where can strategies for better optimization be refined?
• How are we making efforts compared to competitors?
• Are our marketing indicators on an upward rotation, or are they reducing?
• Could there be a tool to enhance spend while targeting a broader client base?

Essential WhatsApp Marketing KPIs Required to Measure Without Fail

Searching for the right performance metrics is quite simple. A proper WhatsApp marketing KPI is similar to the preferred marketing goals and easy to track.

Drafting the first set of WhatsApp marketing KPIs might be a bit massive. You can recognize KPIs that serve your needs better to understand their aim, industry benchmark, and performance.

Let’s discuss the 9 major WhatsApp marketing KPIs to determine which metrics can drive your efforts on WhatsApp.

Delivery KPIs: Ensure Target

The performance indicators form the benchmark for your marketing campaign. They show the campaign target by measuring the number of messages successfully sent to the target audience.

1. Open Rate—Many marketers might already know about WhatsApp, which you have to be most active on. WhatsApp messages have a 5x higher open rate compared to old marketing tools such as email, SMS, etc.

• Benchmark: 85-90%
• Best: 95% and above

2. Click-Through Rate (CTR)—This KPI shows the number of receivers who connected with your marketing campaign. It also shows the broadcasts when they tap the link in the message. A higher CTA often means great engagement, making the indicator a vital success factor of a campaign.

• Benchmark: 15-25%
• Great: 30% and above

3. Opt-Out Rate—This metric monitors the percentage of users who consider stopping your WhatsApp messages. If the opt-out rate is high, it could indicate that you need to refine your content, target demographics, and message frequency.

• Benchmark: 0.3 – 0.6 %
• Ideal: 0.2% and below

Revenue KPIs: Optimize Spend

Key performance indicators support the assessment of the financial metrics and success of marketing campaigns. Yet, it is urgent to move carefully. Hence, misunderstandings can turn into missed opportunities, overspending, etc.

4. Conversion Rate—This is an important one. Calculate the percentage of buyers who finish the desired tasks. A few actions can be submitting WhatsApp flows and means forms, completing a purchase on WhatsApp shop, or booking a service appointment.

• Benchmark: 30 – 45 %
• Best: 50% and above

5. Revenue Per Conversion—This metric tracks the revenue generated from successful engagements. It aids in knowing the individual value of every communication that matters to your campaign. The metrics also come in handy while tracking the AOV (average order value) and other connected factors. 

How do you figure revenue per conversion (RPC)?

RPC = Total Revenue / Number of Conversions

6. Return on Campaign Spend (ROCS)—ROCS is an essential factor in marketing campaign success. It analyzes the revenue generated from specific campaigns against the amount spent. A large ROCS shows a successful and fruitful campaign.

• Benchmark: 5-7x
• Great: 10x

7. Cost per Qualified Lead (CPL) – You may determine your average spend on acquiring each qualified lead by keeping an eye on the cost per lead (CPL) measure. This KPI will serve as your guide for future campaign planning and demonstrate how well you are using your budget.

How do you figure out the cost per lead (CPL)?

CPL = Total Spend / Number of Leads Generated

Retention KPIs: Make Client Happy

It may not be seen as a marketing-centered metric. It is about keeping clients happy and satisfied in a crowded world. For example, ‘customer success’ is the responsibility of the entire organization and not just a team.

8. Customer Feedback

Asking customers to share reviews might not be a numeric factor, but it would offer qualitative details into the marketing campaign. The metric may include receiver comments, complaints, and suggestions to help formulate more effective marketing methods.

9. Retention Metrics

The retention metric helps marketers know that clients are regulated to connect with messages over a certain period. The metric can show client loyalty, marketing strategy effectiveness, reaching and dividing accuracy, etc.

Strategies to Increase WhatsApp Marketing ROI

A strategic blend of audience targeting, effective message flows, and software integration is vital to increase marketing ROI. By scaling these elements, you can make campaigns that are not only effective but also measurable.

1. Reaching specific audiences

Innovative target ensures the campaigns align with the right people. Craft personalized messages for every target segment, like first-time buyers, loyal clients, and creative users. For instance, send exclusive offers to new buyers or reward loyal clients with early access to sales.

Tip – Segment audiences using WhatsApp’s label tool for exact targeting.

2. Calculate CTAs and flows

A structured CTA can distinguish between a click and a missed possibility. Analyze how buyers reply to your messages to search for what works. For example, CTA like ‘Buy now,’ ‘Discover more,’ and ‘Book your order’ usually work well. Enhance your engagement flow to make sure clients are led seamlessly to their journey.

3. Integrate with existing software

Software integration enhances efficiency and personalization by boosting actions. You can track suggestions, centralize insights, and create highly personalized marketing just by linking WhatsApp with your CRM.

Tip – Automate data syncing among WhatsApp and other tools to lower manual effort and confirm regular engagement.

4. Use A/B Testing

Investigate many WhatsApp message templates to increase the efficiency of the campaign and optimize conversion rates.

5. Automate communication

Build an automated interaction flow with message templates and quick replies for an easy conversation experience.

How to Measure Success with Getgabs Tools?

Getgabs support to measure marketing campaign success. Businesses can leverage the power of unique workflows and linking to check WhatsApp marketing ROI easily. It has more than 50 native integrations. The platform even has built-in dashboards or comes with the flexibility to cover marketing teams using KPI tracking demands.

Getgabs engages with your existing tech system easily and helps to confirm consistency. It also checks whether transparency across the entire campaign metrics process. Monitoring success with Getgabs has never been easy. Automated chatbots, creative dashboards, extensive integrations, and collecting, storing, and checking required KPIs with low human effort.

1. Built-in analytics

Getgabs has several modules, such as WhatsApp bulk broadcasting, drip campaigns, and more. It provides immediate analytics in the form of an overview page. These inbuilt analytical details give businesses a clear view of their campaign success.

2. Native integrations with the MarTech stack

You cannot operate your marketing initiatives alone. Your current IT stack, which includes accounting and CRM systems. It will effortlessly update leads from marketing campaigns, cutting down on repetition and drawing the need for manual effort. 

3. Google Analytics Integration

With Google Analytics integration and Getgabs, businesses can monitor and enhance marketing campaigns for good performance. The connection will boost the checking of duplicate signups and aim to just quality leads.

Tools like Google Analytics are used to analyze WhatsApp traffic. Recognize high-performing campaigns and monitor user behaviors as well. For example, you can search for what campaigns have the most clicks and interactions by using UTM insights in WhatsApp links.

4. Measuring campaign performance

To verify possibilities for progress and increase performance, check vital metrics like CTR and conversion rate.

3 Advanced WhatsApp Marketing Metrics

Check these high-level factors to evaluate marketing ROI for deeper examination and campaign success.

• Revenue per receipt: This gives insight into the average revenue created from every user you interact with via your campaign.Formula: Total revenue / Total messages delivered
• Cost Per Recipient: To learn WhatsApp marketing campaign productivity, you need to know the metric split expenses you get for every beneficiary. To show the right mission price, consider WhatsApp marketing engagement cost and software provider cost.
• Return on campaign spending: This metric offers an encouraging view of the profit of a marketing approach. It does this by comparing the income created per beneficiary with the expenditures caused per beneficiary.

Formula: Revenue per recipient/cost per recipient

Benefits of Getgabs Marketing Suite

Getgabs AI-powered tools transform the marketing strategy. It allows custom communication, enhanced interactions, and seamless client experience. Brands may enhance growth and ROI from WhatsApp with innovative and simple solutions using a marketing suite.

Conversion Flows: Keep track of website drop-offs’ WhatsApp numbers and use two-way WhatsApp flows to retarget them in order to boost conversions and lower acquisition costs.

Campaigns & Broadcasts: Use engaging two-way WhatsApp campaigns with gamified offers, personalized CTAs, and interactive experiences to boost CTR and encourage social sharing.

Customer segmentation: To boost engagement and keep customers, send customized communications based on real-time data.

RTO Reduction Flows: Address RTO issues like COD orders and NDRs with proactive WhatsApp communication to reduce losses. 

Post-buying flows: Make clients updated from order booking to delivery and convert them into revenue possibilities.

Click-to-WhatsApp ads: Obtain new leads and improve RoAS with scaled click-to-WhatsApp ads.

WhatsApp ecommerce bot: Use the WhatsApp chatbot brought by AI to give a better client experience, use simple buying methods, and have higher conversion rates.

Frequently Asked Questions

Q1. How to monitor the WhatsApp marketing ROI?

A. The vital for analyzing WhatsApp marketing success contains:

– Delivery Rate: (Number of messages delivered / Total messages sent) x 100%

– Open Rate: (Number of opens / Total messages delivered) x 100%

– Engagement Rate: (Number of responses / Total messages delivered) x 100%

– Click-through Rate (CTR): (Number of clicks / Total messages delivered) x 100%

– Conversion Rate: (Number of desired actions / Total messages delivered) x 100%

Q2. What do you know about CTR for WhatsApp?

A. The average open rate of WhatsApp messages is 45-60%. The average CTR for WhatsApp is 98%.

Q3. What is the right ROI formula?

A. ROI can be evaluated by deducting the initial price of investment from the final cost and then dividing the new number by the invested cost. Finally, multiply the amount by 100, and ROI will be calculated.

Q4. Can Google Analytics monitor marketing success?

A. Tools like Google Analytics are used to analyze WhatsApp traffic. Recognize high-performing campaigns and monitor user behaviors as well. 

Q5. What are revenue KPIs for WhatsApp?

A. Key performance indicators support the assessment of the financial metrics and success of marketing campaigns. The metrics are conversion rate, revenue per conversion, return on campaign spending, and cost per qualified lead.

Conclusion

Practicing monitoring the WhatsApp marketing KPIs and analyzing exact ROI is not always a simple task. Still, marketing leaders take time to understand business needs. Understand KPIs nature, and quite easy to pick not only measure. Hence, it boosts KPIs that are in tune with their marketing and brand aims.

Whatsapp automation empowers the brand to check KPIs, convey actionable insights, reduce risks, and grow profitability. Are you searching for the option to increase the efficiency of WhatsApp marketing campaigns without dropping your IT spending?

Sign up today with Getgabs and see how easy it is to monitor ROI with it!