4 Fantastic KPI’s that you should be using in your chatbot marketing
How do I measure the effectiveness of my chatbot marketing?
We decided to have a “chat” with the king of Facebook marketing, Curt Maly, to get his thoughts.
Curt is a social marketing expert, owner of multiple online marketing businesses, consultant and national speaker joins us today with his vast knowledge of all things marketing data related.
What are the benefits of chatbots?
People generally react faster to the notifications from a Facebook message than to notifications about an email. Not every customer responds positively though, most people tend to the extremes in their feelings towards these messages: they either love them or they hate them.
Another benefit of using chatbots in marketing is that they help to automate out customer service. Chatbots essentially create auto-responders within an AI platform, allowing you to dedicate your time and resources elsewhere.
Chatbots also help decrease the necessity of traditional funnels. You can utilize chatbots to move your clients from one point of the traditional funnel to the next without needing to set up traditional stages. Rather than segmenting people into phases like a traditional funnel, chatbots allow you to just have a conversation with the client and naturally progress them through their journey.
How hard is it to set up chatbots?
Just like funnels, you can make chatbots as simple or as complex as you would like. Creating a basic chatbot requires minimal knowledge, and only needs a few options for auto-response. Essentially you just need to think through a standard conversation that happens on a sales call or customer service call, and input the different variables into the chatbot.
KPI #1- Cost per Acquisition
This is the amount of money that it takes for someone to engage with your message. You can find this information by dividing your ad spend across the total number of new messages that you get. Facebook will try to conflate this data with Cost per Reply, but that will give you an inaccurate picture of your actual cost per acquisition.
KPI #2- Cost per Reply
Facebook will track this metric automatically for you. It’s a very important metric to keep top of mind, because it can help you understand the cost of re-engaging a lead that you fell out of contact with.
KPI #3- Cost per Open
This metric matches up nicely to open rates on email, with one difference: most people see at least an 80% “open rate” on Facebook messages. This happens because if someone browses Facebook on their browser, the message will automatically open, inflating the open rate.
KPI #4- Click Through Rate
Click through rates on Facebook messenger generally align very closely with email click through rates. Most people will see between 6-10% click through rates on Facebook messages. Many people mistakenly claim that they get better click through rates through Facebook messenger. In reality, they are generally getting more leads than from email, due to the increased open rate of Facebook messages.