Unknown Facts About Content Marketing ROI
In my previous article, I have talked about some of the facts that you need to know about content marketing. In this article, I will be talking about some of the facts that you need to know about Content Marketing ROI for organisations. Content Marketing ROI talks about how you get the best out of all that you have invested in your digital marketing efforts. Follow me as we are going to look at that together in this article.
The value of content marketing can be largely three-fold:
1.Increased brand awareness: more potential customers will know about your business through seeing and interacting with your content
2.Building brand conviction: you can increase your credibility and authority in specific topics and drive expert positioning
3.Conversions and advocacy: ultimately you can use your content to drive sales
When assessing your return on investment for your content marketing efforts the three major components to assess are:
- Investment in content creation: time, resource and fiscal cost to the business to produce the content
- Performance of the content: can you track content back to impact on sales?
- Long-tail benefits: did your content increase your search ranking, position your business as a thought leader, or grow an audience of loyal followers?
While the long tail benefits may not be immediately obvious or impactful on your bottom line, don’t discount the value of these overall as part of a holistic marketing effort.
The following are some of the implications to consider when content marketing:
- Content ownership: how much of your content did you create in the house. Did you license any images/music and how long is that license for? Do you need to credit individuals in the content for fair usage rights?
- Internal ability: how much resource or skills are available for creating your content within your business? Will this support your content marketing goals?
- External support: do you need to consider working with external videographers, designers, copywriters or marketing agencies to support your content efforts?
- Legalities: is your content compliant with your industry regulatory bodies? Be aware that content online is subject to the same laws as all publishing e.g. defamation so be sure your content doesn’t breach local laws.
Assess the utility of the content provided by reviewing:
- Downloads/Saves: how many customers found the content so valuable they saved it to their device?
- Customer Feedback: take into account any comments both positive and negative to improve your content from your audiences online.
- Plays/Clicks/Views: for video content, Facebook/Instagram counts 3 sec, YouTube counts 30 sec as a video view. Views shouldn’t be a true reflection on the success of a video, however, % of video watched to finish and retention rates are the key assessment of engagement.
You should be able to get a helicopter view of your content performance by assessing:
- Content recall: how linked is your content style, tone of voice and style with your brand?
- Traffic to point of sale: how much traffic has a period of busy content marketing-driven sales both online/offline?
- Overlaying commercial results with content activities: how do your sales figures compare to your content marketing activity?
Key metrics to consider in your content marketing strategy include:
- Reach: how many individuals see a piece of content
- Engagement: the likes, comments and shares a piece of content gets
- Sentiment: the negative or positive engagement users have with the content
- Clicks: when a user clicks on content showing a deeper level of engagement
- Conversions: When a user completes a purchase as a result of seeing content
- Reach shows the total number of people who’ve seen your content
- Impressions is a sub-metric within reach that dictates how many times a single individual has seen a piece of content
- Reach can be gained by using the native reporting tools within the social platform
The sentiment is an important metric to track within your content to know if it’s satisfying your audience need.
- It provides context to your engagements and allows you to identify how positive or negative your audience are reacting to your content
- Tracking sentiment can allow you to identify issues with your brand or product early on to avoid a crisis by tracking recurring themes or negative comments
- Identifying recurring positive sentiment towards specific messaging or content formats allows you to optimize your strategy to create more of this type of content
Watch out: sentiment monitors are often automated and don’t pick up on sarcasm so it’s always beneficial to do some manual checking on this. Good community management will allow for this too.
Measuring clicks on your content will allow you to assess the success of your content in driving to your website. Particularly if you have an e-commerce site these clicks can then be captured and retargeted across the digital landscape.
- UTM tracking codes (Urchin Tracking Modules) allow you to use custom tracking codes within your content so you can correctly attribute each click to each piece of content. Setting these up is easy and using a free tool like Google’s Link Builder: https://ga-dev-tools.appspot.com/campaign-url-builder/ will allow you to designate different URLs for specific campaigns and platforms.
- Tracking click attribution from the content type, platform and theme will allow you to optimize towards the most successful form of content going forward.
- Also linking the track of clicks in with your Site Analytics and overlaying data like bounce analysis (when people click on one page and leave) will allow you to determine if the right people are visiting your site off if changes need to be made to your targeting.
- Tracking clicks right through to basket completion on e-commerce sites will allow you to identify the best content for driving sales and enable you to work out a true ROI on your content marketing efforts based off the value of a completed sale.
Review your content aligned to the below metrics and determine if changes are needed going forward:
- Reach: is your content reaching the right audience and if not is a platform change or paid consideration needed?
- Engagement: is your audience engaging with the content you’re seeding, if not what changes need to be implemented? Is your audience clear on what you’re asking them to do as a result of your content?
- Sentiment: is the sentiment of engagement on your content positive or negative?
- Retention: What is the attention span your content is capturing? Video drop-offs, time on page, clicks on content are all worth considering.
- Conversions: implement Urchin Tracking Module codes on links within social content to attribute site traffic. Utilizing unique e-commerce basket promotional codes aligned to specific marketing activities can also allow attribution of sales.
Here are some tools you can use to track your key metrics:
- Native reporting: all platforms come with native reporting. Familiarize yourself with the insights panels of Twitter, Instagram, Facebook, YouTube and LinkedIn to get the raw data from each platform as a starting point for any measurement
- Sprout Social: a third party tool can offer insightful reporting and package up data in easy to present or digest formats handy for external reporting
- Buffer: content scheduled through Buffer will allow you further in-depth insights as to the performance of the content and allow you to track this against competitor content
- Google Analytics: Using Google link builder and analytics hand in hand will allow you to track attribution right back to the content format to measure a true ROI on your content marketing
- TweetReach: TweetReach will allow you to track the reach, impact and impressions of your Twitter content
I know you might agree with some of the points that I have raised in this article. You might not agree with some of the issues raised. Let me know your views about the topic discussed. We will appreciate it if you can drop your comment. Thanks in anticipation.
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