What is a mobile number worth in SMS marketing?
The Database Marketing Institute recently came out with a detailed study of the value of a name and mailing address vs. an email. The results were about what anyone would expect;
The value of a name and mailing address – $5.60
The value of an email address – $19.36
(The value for any particular business will vary by the types and styles of product or service that business sells and how they utilize the mailings to drive sales naturally.)
So how does one come up with a dollar figure for what the value of a mobile phone number actually is? Currently tens of thousands of businesses are sending out SMS communications, text blasts, mobile coupons, and mobile offers and this information would be valuable to them. Our team took a little time to run some simple calculations. With average email open rates across various industries are typically around 19% and click through rates to videos, coupons, or offers are only about 6%, then figuring the value of mobile should be easy.
SMS or text message rates hover right around 90% – Mobile Squared 2010
When you take the average email address open rate and compare that with the open rate of a mobile phone message, the mobile number is 521% better!
To calculate the value then is simple, just multiply the value of an email ($19.36 x 521%) = $100.87.
The ability to market and re-market to lists has always and will continue to prove valuable for any type or style of business. Building lists of mobile phone numbers for SMS marketing has never been more important, so why aren’t businesses more focused on it today.
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Want to discuss what you can do with mobile for your own business or even thinking of becoming a reseller? Contact us today at 1-877-511-6624 or enroll in a free trial of our SMS software here.