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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:
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!
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:
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.
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:
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:
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.
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:
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!’).
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:
Follow these two simple tips to motivate your audience to subscribe to your SMS list without sounding intrusive.
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):
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.
Once you’re done collecting subscribers for your SMS list, you may start your first SMS campaign. Make sure you include the following details:
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.
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.’
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.’
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.’
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:
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.
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Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]
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By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange extended its rally by 0.42 per cent on Thursday, June 15, after the share price of Central Securities Clearing System (CSCS) Plc closed higher, overshadowing the loss reported by FrieslandCampina WAMCO Nigeria Plc.
CSCS Plc appreciated by N1.39 during the trading session to settle at N15.70 per unit compared with the preceding day’s N14.31 per unit, while FrieslandCampina Wamco Plc lost N1.38 to close at N70.00 per share versus Wednesday’s closing price of N71.38 per share.
At the close of trades, the market capitalisation of the NASD securities exchange grew by N4.26 billion to finish at N1.026 trillion, in contrast to the midweek session’s N1.022 trillion, as the NASD Unlisted Securities Index (NSI) improved by 3.08 points to end the day at 741.95 points as against 738.87 points it recorded at the previous session.
Despite the gains reported by the bourse, the volume of securities traded during the session went down by 86.4 per cent to 770,273 units from the 5.7 million units achieved a day earlier.
Equally, the value of shares traded at the market yesterday reduced by 91.4 per cent to N2.99 million from N34.9 million, as the number of deals carried out by investors deprecated by 11.8 per cent due to the 30 deals executed compared with the 34 deals completed in the preceding session.
At the close of business, Geo-Fluids Plc remained the most traded stock by volume (year-to-date) with a turnover of 838.5 million units worth N1.3 billion, followed by Industrial and General Insurance (IGI) Plc with 630.1 units valued at N49.6 million, while UBN Property Plc was in third place with 395.9 million units valued at N336.6 million.
VFD Group Plc also finished the trading day as the most traded stock by value (year-to-date) with the sale of 11.1 million units worth N2.5 billion, followed by Geo-Fluids Plc with 838.5 million units valued at N1.3 billion, while FrieslandCampina Wamco Nigeria Plc was in third place with 17.9 million units valued at N1.3 billion.
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Choosing a suitable brokerage is a critical step in the journey of every trader. Given the numerous options available in the market, understanding each platform’s strengths and weaknesses is crucial.
Traders Union compiled a comprehensive NovaTechFX review. In the evolving world of Forex and cryptocurrency trading, NovaTech offers a distinctive blend of services that aim to create an exceptional trading experience.
According to Traders Union experts, NovaTech is a brokerage that aims to offer traders an exceptional experience in the Forex and cryptocurrency markets by providing competitive commissions and spreads. The broker showcases several office locations on their homepage, emphasizing their global reach. NovaTech exclusively supports the MetaTrader 5 (MT5) trading platform, a famous trader choice for its advanced functionalities.
As per the Traders Union experts, NovaTech has been assessed across multiple dimensions, including order execution, available investment instruments, withdrawal speed, customer support, the variety of instruments, and the overall functionality of the trading platform. Each category has been critically evaluated to give users a comprehensive understanding of NovaTech’s offerings.
NovaTech provides a variety of account options to its users, including Affiliate, Builder, Bronze, Silver, Gold, Platinum, VIP, and President accounts. According to the Traders Union experts, the broker operates on the MetaTrader 5 (MT5) platform and accepts account funding in USD via cryptocurrencies such as BTC, ETH, LTC, and USDT.
With a minimum deposit of $99 and a leverage of 1:100, NovaTech enables trading in currency pairs and cryptocurrencies. The platform also offers PAMM accounts, maintaining a margin call and stopping out at 100% and 50%, respectively. Unfortunately, NovaTech does not support mobile trading or offer trading features, contests, and bonuses.
For a more comprehensive analysis, our Traders Union experts have compared NovaTech with other notable brokers:
RoboForex is an adaptable and flexible brokerage that extends its services on multiple platforms, including MT4, MT5, and cTrader. The minimum deposit required to start trading on RoboForex is just $10.  It offers a highly competitive maximum leverage of 1:2000.. Spreads on RoboForex start at 0 pips. As an added incentive, RoboForex provides its new users a $30 Welcome Bonus. Furthermore, the broker also supports Cent accounts.
Pocket Option, a unique broker in its own right, operates on a proprietary platform. This distinct platform design caters to the specific needs of its users, promising a user-friendly interface and a plethora of trading features. It has a minimum deposit requirement of $50. It offers fixed high/low spreads and up to 1:100 leverage. Although it does not provide a no-deposit bonus, it allows trading in Cent accounts.
Tickmill operates on the MT4 platform and requires a minimum deposit of $100. The broker offers spreads from 0 pips and up to 1:500 leverage. It does not provide a no-deposit bonus or support Cent accounts.
EXNESS Group operates on MT4 and MT5 platforms. It requires a minimum deposit of $1 and provides tight spreads from 0.1 pips. EXNESS offers maximum leverage of 1:2000, does not provide a no-deposit bonus, but supports Cent accounts.
AMarkets operates on MT4 and MT5 platforms, requiring a minimum deposit of $100. It offers tight spreads from 0.2 pips and a maximum leverage of 1:1000. AMarkets does not provide a no-deposit bonus but supports Cent accounts.
Additionally, Traders Union has also reviewed ATFX. To know about the broker and read a compelling and insightful review, please visit the official website of Traders Union.
NovaTech, as a Forex and cryptocurrency broker, offers an exciting mix of trading conditions and account types. Despite its limitations, such as the absence of mobile trading, its unique features make it a worthy consideration for traders. Remember, the choice of a broker should align with your trading preferences and strategies. For a more detailed analysis of NovaTech and other brokers, we encourage you to visit the Traders Union’s official website and arm yourself with information to aid your trading journey.
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By Adedapo Adesanya
The crude oil market gained about 3 per cent to a one-week high on Thursday on a weaker US dollar, and a jump in refinery runs in top crude importer, China.
Data indicated that Brent rose by $2.47 or 3.4 per cent yesterday to settle at $75.67 a barrel, while the US West Texas Intermediate (WTI) increased by $2.35 or 3.4 per cent to $70.62 per barrel.
The oil market drew support from US reports showing retail sales unexpectedly rose in May, and higher-than-expected jobless claims last week cut the US Dollar to a five-week low versus a basket of other currencies.
A weaker Dollar makes crude cheaper for holders of other currencies, which could boost oil demand.
Data on Thursday also showed China’s oil refinery throughput rose 15.4 per cent in May from a year earlier, hitting its second-highest total on record.
Analysts noted that there are expectations that Chinese oil demand will keep climbing for the remainder of the year.
Despite these projections, the Chinese economy is not recovering as smoothly as initially expected. Retail sales rose by 12.7 per cent year on year in May but slowed by 5.7 percentage points from April, the National Bureau of Statistics of China said on Thursday.
Also, industrial output increased by 3.5 per cent annually in May, slower than the 5.6 per cent growth in April. In addition, unemployment among people aged 16 to 24 hit an all-time high of 20.8 per cent, the Chinese data showed.
However, the International Energy Agency (IEA) continues to be increasingly optimistic about China, saying in its latest monthly report published on Wednesday that “China’s rebound continues unabated, with its oil demand reaching an all-time high of 16.3 million barrels  per d in April.”
The IEA raised its global oil demand forecast for this year, expecting demand growth of 2.4 million barrels per day in 2023 to 102.3 million barrels per day, a new record. This latest global oil demand growth estimate is higher than last month’s projection of 2.2 million barrels per day demand growth to 102 million barrels per day.
On the supply side, analysts expect voluntary crude output cuts implemented in May by the Organisation of the Petroleum Exporting Countries (OPEC) and allies (OPEC+) and Saudi Arabia in July to support prices at a time of strong demand.
The European Central Bank (ECB) raised interest rates to a 22-year high as expected on Thursday. It signalled further policy tightening as it battles high inflation.
On Wednesday, the US Federal Reserve kept interest rates unchanged but signalled at least a half of a percentage point increase by the end of the year. These higher interest rates would ultimately increase borrowing costs for consumers, which could slow economic growth and reduce oil demand.
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