WhatsApp: KPIs and Strategies

In today's digital landscape, businesses are constantly seeking innovative ways to connect with their target audience and drive revenue. One such platform that has gained immense popularity is WhatsApp. With its wide user base and high engagement rates, WhatsApp has emerged as a powerful marketing tool for businesses. In this article, we will explore the best practices and key performance indicators (KPIs) for WhatsApp marketing to help you optimize your campaigns and boost your ROI.

Why WhatsApp Marketing?

WhatsApp has revolutionized the way we communicate, and businesses have recognized its potential as a marketing channel. With over 2 billion active users worldwide, WhatsApp provides a massive reach to businesses across various industries.

Moreover, the platform offers features like multimedia messaging, voice notes, and document sharing, enabling businesses to create engaging and personalized content for their audience.

Whilst there are markets such as Russia, Scandinavia or China where WhatsApp might not be people's first messaging choice, in our core focus - the DACH region, over 90% of smartphone users not only have the app installed but use it on a regular basis to exchange with their close ones.

WhatsApp is thus the desired environment for businesses to exchange with stakeholders and clients alike Entirely GDPR-compliant..

Benefits of WhatsApp Marketing

• High Engagement: WhatsApp boasts impressive engagement rates, with click-through rates (CTR) and open rates far surpassing those of email marketing. This high engagement allows businesses to connect with their audience more effectively and drive conversions.
• Direct Communication: WhatsApp provides a direct line of communication between businesses and customers, allowing for real-time interactions and personalized messaging. This fosters a sense of trust and builds strong customer relationships.
• Cost-effective: Compared to traditional marketing channels, WhatsApp marketing is a cost-effective solution for businesses of all sizes. With minimal setup and maintenance costs, businesses can reach a wide audience without breaking the bank.

WhatsApp Marketing Best Practices

To maximize the effectiveness of your WhatsApp marketing campaigns, it's crucial to follow best practices that align with the platform's unique features and user behavior. Here are some key strategies to consider:

1. Define Your Objectives
2. Build Your Subscriber List through various touchpoints
3. Segment Your Audience, ideally using our native API integrations
4. Craft Compelling Content and/or only send out relevant information
5. Automate and Personalize Messaging
6. Optimize Timing and Frequency (less is more!)
7. Monitor and Analyze Performance
8. Always stick with "LFHR" - Low Frequency High Relevance
9. Always test - Feel free to use our ChatGPT A/B Testing Tool as well as Flow Analytics A/B Tests

WhatsApp Marketing KPIs

Tracking key performance indicators (KPIs) is essential to evaluate the success of your WhatsApp marketing campaigns. Here are some important KPIs to monitor:

1. RPR: Min Revenue per Recipient (€2,00-€2,50)
2. ROCS: Min Return on Campaign Spend (1.500%-2.500%)
3. Min CTR: Click-through Rate (15-20%)
4. Min Open Rate (85-95%)
5. Opt-out Rate (0.3-0.6%)

Inside this video Chatarmin-founder Johannes Mansbart gives some additional perspective on how to calculate your exact WhatsApp-business-case, based on WhatsApp KPI's outlined above:

Pronenss to Errros in defining, analyzing and reporting WhatsApp Marketing KPI's

As with every model, WhatsApp Marketing KPI's are inherently flawed. This is because:

• The WhatsApp Business API only offers limited tracking possibilities
• Companies such as chatarmin.com need to build custom tracking tools such as a link-tracker via redirects, or a "chatarmin Pixel"
• Your WhatsApp Marketing Tool will tend to over-attribute its own campaigns' and flows' revenues and effectiveness
• Opening Rates cannot be tracked for users who have turned the feature off in their private WhatsApp account settings
• Working with UTM Links and analyzing touchpoints of cohort-revenues will help you understand user journeys and WhatsApp's contribution to your business success
• converting customers is always a multi-touchpoint journey, and never a "single channel topic"

Overall, we at chatarmin.com do offer our clients to make use of tracking links, recommend using UTM links, and also have our Shopify app integrated, which can track abandoned cart successes as well as the track record of (optionally unique and timely limited) discount codes. Moreover, direct referral links can be used to track the exact revenue success of your WhatsApp marketing campaign.

Overall, as an online marketeer, you should take any and every tool's attribution to your campaign success with a grain of salt, and try to have your ultimate "source of truth" in a customer data panel such as your Email CRM, or tracking or dashboard analytics tools solely focused on giving you your best business overview, in order to try to limit tracking errors and attribution issues.

Unfortunately, through iOS and Google Analytics updates, tracking your online marketing efforts hasn't become an easier topic within the last one or two years, to say the least.

Conclusion

WhatsApp marketing presents a valuable opportunity for businesses to connect with their audience, drive engagement, and boost ROI. By following best practices, crafting compelling content, and tracking key performance indicators, you can optimize your WhatsApp marketing campaigns and achieve tangible results. Embrace the power of WhatsApp as a marketing tool and unlock its full potential to grow your business.

To learn more about WhatsApp marketing KPIs and strategies, check out our comprehensive WhatsApp masterclass on YouTube. If you're ready to take your WhatsApp marketing to the next level, contact us to schedule your personalized demo and explore how our platform can help you achieve your marketing goals.

In this Video I explain how a standard ecom WhatsApp Marketing setup looks like with Chatarmin's Shopify WhatsApp Integration & Klaviyo WhatsApp Integration: