Overview:
AI Optimisation is an extremely powerful feature in SMSWiser designed to maximise the effectiveness of your SMS marketing campaigns.
Business Need:
In SMS marketing, it is crucial to ensure that your campaigns deliver a high return on investment (ROI) and a strong click-through rate (CTR). AI Optimisation helps achieve these goals by using data-driven insights to make real-time decisions on whether to continue sending messages. This approach not only enhances campaign performance but also minimises potential losses by stopping underperforming sendouts.
How It Works:
1. Set Performance Metrics:
- The AI Optimisation feature operates based on two key metrics: ROI and CTR.
- The client sets the minimum threshold value for either ROI or CTR that needs to be achieved for the campaign to continue.
2. First Batch Evaluation:
- The system sends the first batch of messages.
- After sending, the system waits to evaluate the performance of this initial batch against the set thresholds for ROI or CTR.
3. Threshold Achievement:
- If the first batch meets or exceeds the set threshold, the system proceeds to send the next batch.
- If the performance metrics are not met, the system will halt further sendouts, preventing additional expenditure on underperforming campaigns.
4. Ongoing Batches:
- For each subsequent batch, the system continues to evaluate the performance based on the defined metrics.
- Only when the batch meets the set threshold will the next batch be sent, following the same evaluation process.
5. Stop-Time Value:
- Clients can set a stop-time value, defining a cut-off time after which no more batches will be sent, regardless of performance metrics. This ensures that campaigns are timely and do not run indefinitely.
Example Scenario:
Imagine you are running a campaign with a goal of achieving at least a 10% ROI. You set this threshold in the AI Optimisation settings. The system sends the first batch of 1,000 messages and waits to evaluate their performance. If the first batch achieves a 12% ROI, the system proceeds to send the next batch. However, if the ROI is only 8%, the system stops further sendouts, preventing potential losses from an underperforming campaign. Additionally, you set a stop-time at, for example, 3pm of the day after, ensuring that the campaign doesn’t run beyond this period regardless of performance.
Benefits:
- Maximised Profit: By sending only well-performing batches, AI Optimisation ensures that your marketing budget is spent effectively, maximising profit.
- Limited Losses: Underperforming sendouts are halted early, reducing potential losses and conserving resources.
- Data-Driven Decisions: The system uses real-time data to make informed decisions, enhancing the overall effectiveness of your campaigns.
- Flexibility and Control: Clients can define performance thresholds and stop-times, providing flexibility and control over campaign execution.
Key Points:
- Performance Metrics: Set minimum ROI or CTR values that need to be achieved for the campaign to continue.
- Batch Evaluation: The system evaluates each batch against the set thresholds before proceeding with further batches.
- Stop-Time Value: Define a stop-time to ensure campaigns run within a specified period, preventing indefinite sendouts.
- Enhanced Performance: AI Optimisation enhances campaign performance by focusing on data-driven insights and real-time adjustments.
By leveraging AI Optimisation in SMSWiser, you can ensure that your SMS marketing campaigns are not only effective but also efficient, driving higher returns and minimising risks.
Step-by-Step Guide to Set Up AI Optimisation:
1. Log in to SMSWiser:
- Access your SMSWiser account.
2. Navigate to Drops Section:
- Click on the Drops tab in the top menu bar.
3. Create a New Drop:
- Click on the + Add Drop button to create a new sendout.
4. Fill in Drop Details:
- Enter the required information, such as Name, Sender, SMS Text, Country, Campaign, SMS Gateway Route, Leads List, Amount, and Price per SMS.
5. Enable AI Optimisation:
- Scroll down to the AI Optimisation section.
- Tick the AI Optimisation box to enable it.
6. Set Performance Metrics:
- Define the minimum threshold value for ROI or CTR that needs to be achieved for the sendout to continue.
- Specify the Batch amount, which is the number of messages to be sent in each batch.
- Set the Minimal value (%) for ROI or CTR that triggers the next batch.
7. Configure Stop-Time:
- Set a stop-time value, defining a cut-off time after which no more batches will be sent, regardless of performance metrics.
8. Submit the Drop:
- Review all settings and click Submit to schedule the drop with AI Optimisation enabled.
9. Monitor Performance:
- Once the drop is sent, navigate to Drop -> View to monitor the performance of each batch.
- Detailed statistics for each batch will be available, allowing you to analyse and understand the sendout’s overall success.
Additional Tips:
- Adjust Metrics: If needed, you can adjust the performance metrics and stop-time settings based on the performance data for the future sendouts.
- Analyse Performance: Use the detailed reports to identify trends and optimise future campaigns.
- Test Before Full Sendout: Consider testing AI Optimisation settings with smaller drops before applying them to larger ones.
By following these steps, you can effectively set up and utilise AI Optimisation in SMSWiser to ensure your SMS marketing campaigns are both effective and efficient.