Guide to WhatsApp Marketing ROI Metrics and Tracking

August 21, 2024

With WhatsApp’s huge user base of more than 2 billion and its higher engagement rates, organizations are progressively investigating its true capacity as a strong marketing tool. In the event that you’re scrutinizing the adequacy of WhatsApp marketing and the advantages of the WhatsApp Business API, this guide is customized for you. We’ll investigate key metrics and strategies to maximize your WhatsApp marketing ROI.

Key Performance Indicators (KPIs) for WhatsApp Marketing

KPIs are Fundamental for measuring the success of your WhatsApp marketing campaigns. These markers track execution as well as assess the expense viability of the WhatsApp Business API. Here are the pivotal KPIs to monitor:

Delivery Rate

Measures the Productivity of your message delivery, ensuring content reaches your audience. Formula: (Number of messages delivered / Total messages sent) x 100%

Open Rate

Reflects how convincing and significant your content is to recipients. Formula: (Number of opens / Total messages delivered) x 100%

Engagement Rate

Check the Number of beneficiaries that cooperated with your substance. Formula: (Number of responses / Total messages delivered) x 100%

Click-through Rate (CTR)

Evaluates the Effectiveness of your call-to-actions (CTAs) inside the message. Formula: (Number of clicks / Total messages delivered) x 100%

Conversion Rate

Tracks Recipients who made an ideal move, like making a buy or purchase or signing up for a newsletter. Formula: (Number of desired actions / Total messages delivered) x 100%

3 Advanced WhatsApp Marketing Metrics

For a more profound examination, consider these high-level metrics to assess your marketing ROI and campaign profitability:

1. Revenue Per Recipient

This metric gives insights into the average revenue generated from each recipient you engage with through your campaign

Formula: Total revenue / Total messages delivered

2. Cost Per Recipient

To comprehend the productivity of your WhatsApp marketing campaign spending, this metric separates the typical expense you bring about for every beneficiary. While ascertaining the absolute mission cost, think about the accompanying:

WhatsApp Marketing Conversation Cost: the expense you pay to WhatsApp for conveying a marketing template message to a specific country or region.

Software Provider Cost: a decent month-to-month membership cost. To precisely disseminate this decent expense, gauge the quantity of missions you’ll run in a month. Then, at that point, for each mission, decide the number of messages that you’ll convey. By partitioning the month-to-month programming cost by the complete messages conveyed in a month, you can determine the product cost per recipient.

3. Return on Campaign Spend

This metric gives an all encompassing perspective on the benefit of your WhatsApp marketing effort by contrasting the income produced per beneficiary with the expense caused per beneficiary.

Formula: Revenue per recipient / cost per recipient

Tracking WhatsApp Campaign Performance for Website Conversions

Step 1: Prepare UTM Parameters

UTM (Urchin Tracking Module) parameters are tags you add to a URL. At the point when somebody clicks on a URL with UTM parameters, those tags are sent back to your analytics tool, and you can follow where your traffic came from.

For instance, in the event that you have a site https://example.com, you can add UTM parameters to it like this:

https://example.com/?utm_source=whatsapp&utm_medium=social&utm_campaign=my_campaign

utm_source: Recognizes which site sent the traffic. For this situation, “whatsapp”.
utm_medium: Recognizes the medium. E.g., “social”, “email”, and so on.
utm_campaign: Recognizes your particular campaign.

Step 2: Share the link on WhatsApp

When you have your abbreviated URL with UTM parameters, you can share it on WhatsApp. You can insert the link as a call-to-action interactive button so clients can respond without any problem.

Step 3: Analyze the Traffic

In Google Analytics 4, you can go to Reports > Acquisition > Traffic Acquisition to see the traffic from “whatsapp/social”.

Identifying WhatsApp Lead Sources

Decide the Beginning of Contacts Utilizing These Methods:

Method 1: Customize The Initial Message

In the event that you’re utilizing a link to start a WhatsApp chat, you can customize the initial message based on the platform or campaign. For example, a link from an email campaign might have the initial message “Hi! I’m connecting from the email campaign,” while a link from your site could say “Hi! I tracked down you on your site.”

Method 2: Use Google Tag Manager

Google Tag Manager (GTM) is a powerful tool that can help you track clicks on a “Chat with us on WhatsApp” link or button on your website. By setting up tags and triggers in GTM, you can send this data to Google Analytics to determine the lead source.

Here’s a step-by-step guide on how to track WhatsApp link clicks using Google Tag Manager:

Step 1: Create A New Tag

Log in to your GTM account.
click on “Tags” in the left sidebar, then click on “New”.
Name the tag (e.g., “WhatsApp Clicks”).
Click on “Tag Configuration” and choose “Google Analytics: GA4 Event” as the tag type
Click on “Configuration Tag” and choose “None- Manually Set ID” in the dropdown menu
Copy your GA4 Measurement ID from your GA4 account and paste it into the required field.
Name your event (e.g., “whatsapp_clicks”)

Step 2: Create A New Trigger

Click on “Triggering” below the “Tag Configuration”
Name the trigger (e.g., “WhatsApp Clicks”).
Click on “Trigger Configuration” and choose “Just Links” as the trigger type.
Choose “Some Link Clicks” for “This trigger fires on” and set the conditions. For instance, you might set it to trigger when the “Click URL” contains “wa.me” or “api.whatsapp.com”.

Step 3: Publish Changes

Whenever you’ve set up the tag and trigger, click on “Save”, “Submit” and “Publish” in the upper right to publish the changes to your live site.

Step 4: Check in Google Analytics 4

After some time, you can go to find out about Google Analytics and navigate to Report > Engagement > Events to see the events being tracked. If you set it up as described, you’d look for the “whatsapp_clicks”. With this event data, you can segment the events by source/medium to see where users were before they clicked on the WhatsApp link. This can give you insights into which channels or campaigns are driving the most WhatsApp interactions.

Optimizing WhatsApp ROI

To enhance WhatsApp ROI, leverage the WhatsApp Business API with these strategies:

Audience Segmentation

The WhatsApp API likewise empowers organizations to actually target explicit audiences more. For instance, if a broad targeting approach fails to engage customers, businesses can create a more tailored audience list based on conversation histories and customer interests.

You can then test the effectiveness of different messages for specific demographics, interests and behavior, so that your targeting and messaging strategies resonate better with the intended audience.

A/B Testing

Organizations can assess the adequacy of various CTAs, message content, visual components, timing and frequency in driving conversions.

This iterative cycle process organizations to constantly further develop their conversion rates and achieve better results in their WhatsApp marketing efforts.

Automated Engagement

WhatsApp Business API can assist businesses establish automated conversation flows and guide users on the next steps depending on the replies.

By planning a succession of message formats with button-based reactions, you can give clients helpful answer choices and a consistent correspondence experience. This step-by-step approach encourages customers to take desired actions.

Integration With Existing Tech Infrastructures

Integrating InfinityHub’s WhatsApp with existing frameworks gives organizations quick access to customer data.

It guarantees that specialists have state-of-the-art data which empowers them to serve clients all the more really and abstain from posing repetitive inquiries, streamlining the communication processes for overall customer satisfaction.