WhatsApp is a helpful platform for businesses for marketing, sales, and support. The platform works for all kinds of business – small or large – across industries.
However, many businesses new to WhatsApp may need to pay attention to its costing before they invest in the platform.
In this blog, we focus on how to save money on WhatsApp Business API and increase your ROI.
What is the WhatsApp API pricing structure
WhatsApp Business API pricing structure is based on subscription charges and conversation-based pricing. Subscription charges include a monthly or annual fee for using the platform, and conversational charges are based on the number and nature of conversations that a business has with customers via WhatsApp.
Strategies to optimize messaging costs on WhatsApp
Here are some of the best WhatsApp Business API strategies that help reduce costs:
1. Leverage user-initiated conversations
Conversations started by customers are free within a 24-hour window. This means, if you encourage customers to start conversations, you may not have to pay for those conversations. Here’s how you could do so:
– Add a WhatsApp widget on your website
– Run click-to-WhatsApp ads
– Have a WhatsApp chatbot for immediate responses
2. Use message templates efficiently
In WhatsApp API messaging, messages that are sent via approved message templates are charged less than messages that have free form. For example, you could use templatized messages for repetitive communication, such as order confirmations, order updates, payment reminders, delivery status messages, etc. The other factor to remember is to keep the messages short and concise.
3. Automate responses with chatbots
WhatsApp chatbots can respond to customers instantly. Chatbots can share responses to repetitive and mundane questions with ease. When you use automated customer support responses to these questions, it reduces the workload of your customer support team. You can use no-code chatbot builders for this. This way you can reduce your WhatsApp API messaging costs.
4. Segment your audience for targeted messaging
Another way to save money on WhatsApp API messaging is to send messages to customer segments rather than sending them to the entire list. This way you can send messages only to relevant customers. This also increases the likelihood of them making purchases.
You could also create drip campaigns by segmenting customers. Use data from customers’ part purchases and activities on your site to create segments.
5. Implement conversational marketing
With WhatsApp Business API messaging, you can also create a conversational and a more intuitive conversation flow. This can also help you personalize communication. Conversational and personalized conversations can help increase conversions and sales, increasing revenue and decreasing costs.
6. Optimize timing and frequency of messages
Marketers are aware that certain days and times are more effective when sending communication to customers, leading to more open rates, higher click-through rates and more.
By testing different messaging timings, you could figure out the most efficient time when your WhatsApp campaigns perform well, and help generate more sales. This can help increase revenue and decrease WhatsApp costs.
7. Minimize business-initiated messages
Most experts go by the mantra, quality over quantity. When it comes to WhatsApp campaigns, focus on sending fewer messages that are more targeted and of high quality. This can help bring more leads, conversions, and engagement, rather than spending time, effort, and resources on multiple campaigns of poor quality.
8. Monitor and adjust message volume
One of the best ways to save money on WhatsApp API marketing campaigns is to continuously monitor them to identify what is working and what is not. Activities that are not working should be removed. Here’s what you should monitor:
– Delivery times
– Resolution rates
– Engagement rates
– Campaigns that get more results
– Campaigns that do not get results
9. Track and analyze conversation data
Another way to save money on WhatsApp API is to continuously track and analyze conversation data. This way, you can identify areas to cut costs and improve efficiency.
10. Choose the right BSP with competitive rates
Tiered WhatsApp API pricing models or pay-as-you-go models can help reduce costs. You must choose a provider that offers these models, and one that provides automation capabilities, WhatsApp templates, ease of setup and fees, customer support and success and scalability.
Tips To Use Free WhatsApp Entry Points
Here are some tips to bring in more conversations to WhatsApp:
1. Encourage customers to start conversations
When customers initiate conversations, it can help you save money on WhatsApp API. Here’s how you can encourage customers to start conversations with you on WhatsApp:
– Let them know the benefits of communicating via WhatsApp
– Mention your availability and the ease of contacting you
– Introduce your customer service via automated customer support messages
2. Promote WhatsApp contact information on website and social media
Customers should know the different channels that they can contact you on, including WhatsApp. And for that, you have to promote this information. Let customers know they can contact you via WhatsApp. Make it prominent on your website and social media profiles. Have chat buttons on different pages, such as contact pages, product pages, in social media bios, etc.
3. Offer incentives for first-time WhatsApp interactions
One way to get new customers to engage with you on WhatsApp is to offer incentives, such as discounts or deals, for their first interaction on WhatsApp. This way, you can drive more WhatsApp interactions by new customers as well as build trust amongst them.
4. Use QR codes for easy access to WhatsApp
An effective way to bring users to your WhatsApp account is to use QR codes. These QR codes link directly to your WhatsApp chat. You could share the QR codes in many ways, for instance, at events in a physical location, on your social media campaigns, in online ads, in emails, on product packaging, and more.
5. Leverage WhatsApp click-to-chat links in emails and ads
Include WhatsApp click-to-chat links in your advertisements and email campaigns. These links enable customers to initiate a chat with a single tap. It improves accessibility and encourages immediate engagement with customers.
6. Create engaging content that drives customer interaction
One way to keep your customers engaged is to share content and communication with them on a regular basis. For example, you could share content such as polls, quizzes, videos, articles, etc. that is informative and helpful to them, leading to more engagement.
7. Use WhatsApp for post-purchase support.
Once customers make a purchase, reach out to them via WhatsApp to provide support or to request for their feedback or review. This follow-up can positively impact customer satisfaction and also lead to future interactions.
8. Integrate WhatsApp with customer support channels.
Merge WhatsApp with your existing customer support channels. This will help streamline communication. It will enable efficient management of customer queries and your customers will receive timely support.
9. Host exclusive WhatsApp-based promotions and offers
Run promotions and offers exclusively on WhatsApp. You could incorporate strategies such as urgency by creating time-sensitive offers and promotions that are exclusively available on WhatsApp. This can help increase conversations and encourage quick responses from customers.
10. Use WhatsApp for event or webinar registration
Use WhatsApp for event registrations. Make the sign-up process simple. Make it two-way conversational so users can ask questions. This can help increase participation and streamline communication for event details.
Messaging performance metrics and analysis
Here’s a list of messaging performance metrics and analysis that you must follow:
– Track conversation volume and type by monitoring the number of conversations and use the data to segment customers based on their needs
– Measure response and resolution time by noting the average time for response and resolutions to customer queries
– Analyze customer engagement rates by tracking the number of recipients who interact with your messages
– Monitor message delivery and open rates by tracking the percentage of messages delivered and opened to determine the reach
– Evaluate conversation message costs from WhatsApp interactions by measuring the number of interactions that lead to desired actions, such as sign up, purchases, etc.
– Monitor automated vs. human response performance by comparing the two to optimize customer service strategies
Choose the right WhatsApp API provider
We’ve shared many different ways to save money on WhatsApp API and control your WhatsApp Business API costs and how it can benefit your business.
When choosing the right WhatsApp API provider, consider factors such as pricing structure, fees and the services provided. Also understand the additional features that can help in reducing the cost.
Interakt can help you get started and scale your business with WhatsApp API.
Whether it’s a fashion brand, a B2B manufacturing company, or an automobile brand, today, every business has included WhatsApp in its marketing channels mix.
No matter the size of the business, a mom and pop store or a multinational company, every business across industries is using WhatsApp to engage customers.
However, it is important to understand the costing related to WhatsApp to make the most and drive ROI. This blog will help you understand that.
Understanding WhatsApp API pricing
WhatsApp Business API has become the go-to tool for every business. While WhatsApp does not charge for its API, there are other costs involved. For instance, there could be costs related to conversation-based pricing by WhatsApp business platform or service fee by WhatsApp Business Solution Providers, among other costs.
Understanding traditional business messaging costs
The WhatsApp Business App can be downloaded free of cost. However, you must note that you can either use the number as a private number or a WhatsApp Business number. If you use your private number, it will get converted into a business account.
The costs related to WhatsApp Business include costs towards set up, monthly fee, cost per conversation, and cost per monthly contacts. The cost you have to pay for WhatsApp Business will also depend on the WhatsApp Business solution provider you choose. Hence, it is advisable to factor in the cost when partnering with a WhatsApp Business provider.
Factors to consider when choosing a messaging platform
WhatsApp API is an efficient platform and a must-have for businesses, but before you sign up and choose a messaging platform, you must consider some factors. Here’s a list of some of the most important factors to consider when choosing a messaging platform.
1. Pricing and cost transparency
Pricing can be based on the number of conversations, for example, in the case of WhatsApp Business API. It is important to understand the pricing structure before zeroing in on a messaging platform.
For instance, there could be hidden costs, such as onboarding fees from solution providers, or there could be subscription fees. Another factor that could impact costing is the number of messages you send, and as the volume increases, the cost may increase. Last but not the least, negotiating with the business solution provider is also important to bring costs down.
2. Scalability for growing businesses
When choosing a messaging platform, you must consider your future usage. For example, maybe your current usage is less or limited, but in future, as your business scales, your usage will increase. Hence, choose a plan that suits your future needs, not just current requirements.
Besides, there may be advanced plans that offer unlimited integrations and access to developer API; you must consider these scalability features.
When choosing a messaging platform, you must consider your future usage. For example, maybe your current usage is less or limited, but in future, as your business scales, your usage will increase. Hence, choose a plan that suits your future needs, not just current requirements.
Besides, there may be advanced plans that offer unlimited integrations and access to developer API; you must consider these scalability features.
Also consider the tool’s customization and integration capabilities. You may need to integrate your system with other tools that are already a part of your CRM and system. Since WhatsApp Business API does not have a front-end interface, you may need to use a business solutions provider.
4. Reliability and uptime guarantees
WhatsApp keeps updating its pricing policies from time to time, and this may impact pricing. Hence, it is important to consider the latest pricing updates, the dates from which the prices are applicable, and other related factors.
5. Automation and AI features
Automation helps businesses make processes smooth. WhatsApp chat automations can help businesses with catalogs, sales, support, and other such processes. However, only some plans offer automation features. Hence, it is important to understand the automation and AI features as well as the costs associated with them before choosing your messaging platform.
6. Security and compliance standards
One of the biggest concerns of consumers these days is data privacy and security. Any breach could instantly derail your business. Hence, it is critical to learn about the security and compliance standards that your messaging platform follows. Without advanced security measures, you may be risking your entire business.
7. Customer support and service availability
Another factor that may affect pricing is the level of customer support and maintenance assistance provided by your business solutions provider. Some may also offer a specific Service Level Agreement (SLA), such as 24/7 support. However, it may come at a cost, and so, it is essential to understand the customer support availability and associated charges.
8. Global reach and multi-language support
Depending on your location and region, your WhatsApp Business API pricing may vary. For example, different regions may have different rates. Besides, currency exchange rates and other local market parameters may also affect pricing.
9. Ease of setup and user interface
Depending on the business solutions provider you choose, the onboarding fees could end up being a significant expense for your business. Hence, it is advisable to consider this cost when setting up.
Set up an efficient WhatsApp marketing system with Interakt
If you’re looking for a business solution provider for WhatsApp API, Interakt provides a wide range of services. Interakt will help you acquire customers, engage them, communicate with them, help you with sales, and customer support, among other tasks.
The best part, Interakt offers four pricing plans for WhatsApp Business API that you could choose from, based on the nature and requirements of your business. Here are the four plans:
1. Starter Plan: Begins at INR 2,757 per quarter, provides access to shared team inbox, Instagram inbox, chat automation for welcome and OOO messages, allows catalogs for Native Builder and Campaigns, and bulk messages, among other features.
2. Growth Plan: Starting at INR 2,499, this plan offers all the features of the Starter Plan, plus access to Click to WhatsApp ads Analytics Dashboard, automated workflows, advanced campaign filters, and more.
3. Advanced Plan: This plan starts at INR 3,499 per month and offers unlimited external app integrations, developer API access for Session messages and Incoming messages, among other features.
4. Enterprise Plan: With two plans — Pro and Enterprise — the plans differentiate with the volume of conversations. Marketing conversations cost INR 0.7265, utility conversations cost INR 0.3082, and service conversations cost INR 0.2906 per conversation.
Conclusion
The WhatsApp API has several features to offer that can help you drive a positive ROI from the messaging platform.
If you’ve been looking for the right solution to make use of it, get started with Interakt today.
