Learn how to optimize your WhatsApp marketing costs.
With the growth of WhatsApp as a channel for ecommerce businesses to run marketing, sales and support campaigns, brands are now experiencing higher costs despite the fixed pricing the messaging platform has to offer.
But owing to the promising results that WhatsApp has to offer, businesses are now seeking ways to optimize their spends while making the most out of the platform to drive their objectives and goals.
After having run WhatsApp broadcast, cart recovery and other engagement campaigns for hundreds of ecommerce businesses, we started to optimize the campaign strategy for higher return on investments.
We experimented with various aspects of WhatsApp marketing including frequency, time, campaign type, automations, segmentation and more, resulting in helping our customers reduce their WhatsApp marketing costs.
In this blog, we’re going to share some of those hacks and tips with you to help your business get better control over your WhatsApp marketing costs!
Tips to Optimize Your WhatsApp Marketing Costs
1. Segment Your WhatsApp List
First things first, with the WhatsApp widget displayed on your website and the WhatsApp link being used in social media ad campaigns, businesses are now growing their WhatsApp lists at a rapid rate.
This is also resulting in losing context of where these subscribers are coming from, leading to low to no ability to personalize their WhatsApp marketing campaigns - which eventually leads to a drop in the results it generates.
We recommend keeping your WhatsApp list well-segmented at all times. Take into account different aspects while segmenting your list - you can do so based on the source of subscription, point of subscription, purchase behavior and previous interactions. The more segments you have, the better are your campaigns.
2. Monitor Your WhatsApp Campaign Performance
Next, once you start running WhatsApp broadcast campaigns and other marketing campaigns, make sure you’re keeping a close watch on its performance. This includes looking beyond the number of messages you have sent, and looking into the number of messages that were read, clicked through or responded to - these are indicators of which customers across different segments are willing to engage with your brand on the messaging platform.
If you’re making use of a Shopify WhatsApp Business API app like QuickReply.ai, keeping watch on these performance metrics is easy. The analytics and insights dashboard gives you a clear breakdown of how your campaigns are doing across various segments, so you derive actionable to optimize them for better engagement.
3. Target Your Engaged Audience More
Using segmentation and insights from your WhatsApp marketing campaigns, identify your most engaged subscribers. A WhatsApp marketing app like QuickReply.ai does this for you, letting you create a micro-segment of these consumers.
Engaged consumers are those that actively interact with your WhatsApp broadcasts and engagement campaigns. They are people who have either responded to or clicked on your campaigns to reach your website, displaying a higher purchase intent in what you have to offer.
You can optimize your WhatsApp campaigns to focus on targeting these engaged consumers more. This means sending your campaigns to only those who are more likely to respond to it, saving on WhatsApp marketing costs in the long run.
4. Reduce Frequency for Inactive Consumers
There will always be a segment of consumers who do not engage with your WhatsApp marketing campaigns. These people either don’t read your message, or read them but not engage with them in any way. You can categorize these consumers as passive intent buyers or inactive consumers.
To save on WhatsApp marketing costs, you can lower the frequency at which you target this segment of consumers. This means sending a lesser number of messages to these consumers, considering their lack of interest in what you have to offer at that moment, whilst still keeping them in the loop and staying on top of their minds.
A WhatsApp Business API solution like QuickReply.ai comes with smart monitoring of audience segments. This helps you look into when an inactive consumer becomes active on your campaigns, moving them to the bracket of higher frequency campaigns.
5. Explore Different Campaign Types
A lot of ecommerce businesses start using WhatsApp for one-sided promotions, namely WhatsApp broadcast campaigns. But promotions around sales and discounts may not always work and that’s where engagement campaigns come in.
We recommend setting up customer engagement campaigns like running contests, requesting reviews and feedback, sending product recommendations and more, to keep your subscribers happy and interested in what your brand is doing.
Having the right mix of WhatsApp marketing campaigns can help you move consumers along the sales funnel with subtle nudges that they are more likely to respond to. This helps improve the response you get on WhatsApp marketing campaigns, lowering your costs or helping you get a higher ROI from them.
Also Read: Choose the right campaign type
Do You Really Need to Optimize Your WhatsApp Marketing Costs?
The number of businesses using WhatsApp for marketing is increasing by the day - which means that a typical user is being targeted by at least ten messages a week from different brands already, and the number is slated to go higher.
Most businesses, as a reflex action, would increase the frequency at which they send WhatsApp broadcasts to ensure they get noticed. But that can eventually lead to a much higher WhatsApp marketing cost - especially if you’re a fast-growing business.
That’s why we recommend following these WhatsApp marketing best practices and tips from day one.
While we will continue to update this article with more such tips on WhatsApp Business for marketing, we don’t want to keep you waiting!
If your WhatsApp marketing costs have been hitting the roof, reach out to us for consultation on how to optimize for higher returns instead.
FAQ(Frequently Asked Question)
Q1. What is the cost of WhatsApp marketing?
Ans: WhatsApp marketing is a great way to reach your target audience, but it can be expensive. The cost of WhatsApp marketing depends on a few factors:1. Who you're targeting (location).2. How much time you're spending on each campaign.3. How many messages do you send in one day or week.4. How long the message is (number of characters).
Q2. What are the advantages of having a WhatsApp Business account?
Ans: WhatsApp Business facilitates customer interaction by providing tools to automate, sort, and respond to messages quickly. It's also designed to look and function similarly to WhatsApp Messenger. You can use it for anything you're used to, from messaging to sending photos.
Q3. If I switch to WhatsApp Business, will I lose my WhatsApp conversations?
Ans: Note that the option to transfer your chats from WhatsApp Messenger to WhatsApp Business will not be available. In other words, switching back to WhatsApp Messenger will result in the deletion of all of your conversational history.