Content Marketing ROI

Every business in the world uses content marketing. It doesn't promote a business but stimulates interest in its products or services. A successful content marketing strategy requires understanding and buy-in from other groups of your company (Wilson, 2020). These groups are generally broken into three stakeholders: authority, people affected, and contributors. Content marketing requires proper budgeting, so you'll need senior leadership on board. How does your content affect people? Sometimes you might have to switch up the content you provide. You’ll want to notify your sales or support to have them ready for any changes. Finally, you’ll want to make sure the team implementing the content know what they need to provide.

Laying out the company’s goals can help find gaps and opportunities that your content marketing can capitalize on. Goals such as awareness, engagement, lead generation, sales, or loyalty. These all make up the foundation of a successful business. It’s important to setup benchmarks through past campaigns, competitors, and industry reports. Making sure your company is moving at a proper pace towards your goals.

 

How to Calculate Content Marketing ROI

A proper content marketing campaign needs to have some sort of structure to calculate its ROI. This allows the company to know if they made money at the end of the day. If a campaign shows to be profitable, it allows the company to know if they should keep running it or not. By evaluating ROI, you’ll have an insight into how to invest future marketing dollars.

The best way to figure out if a campaign will be profitable or not before you launch is to look at past campaigns. This will help you in creating an accurate forecast. If you don’t have previous campaigns to reference, you can look at the companies past product reports to estimate the conversion rates (Wilson, 2020). If you’re using many tactics such as Google Ads and Facebook ads, it’s important to make sure you’re tracking the ROI of each tactic. This will help determine which content was the most effective. The authority can use this information to approve the funds needed for the campaign.

 

Creating Content to Drive Results

You'll need to know what content will appeal to your specific audience. By knowing who your target audience is, you can make your content connect with them on a deeper level. You’ll also have a better understanding of how they like to view their content.

Next, you’ll need to know the resources that you have available. Things such as time, budget, and resources are all factors when it comes to your campaign. Finally, you’ll want to make sure the campaign aligns with the business’s goals. Say if you want past customers to interact with your business. You could have a loyalty campaign or interactive videos to keep them engaged.

Recognizing where the customer is on their journey can help decide on the type of content you want to provide. The buyer's journey consists of 4 stages: awareness, consideration, decision, and sale. The goal is to move as many people down the funnel as possible to become paying customers. Most will fall short into other categories, but you can use content to help move them further down. What if I have someone who hasn’t heard of my company before? I’ll want to provide information on what I do before I try to sell something. The same goes for someone in the decision stage. Since they know who I am already and have looked at a few of my products. I’ll want to provide them with content such as reviews to help complete their sale.

 

Reporting Campaign Performance

Gone are the days like Mad Men when you launch a campaign and wait to see if it converts people into buyers. In the digital age, we no longer have to wait days to see the performance of our campaigns. There are tools that can help track your data faster and easier so you can adjust. Tools such as Buffer and Hootsuite are popular social media analytic tools.

As your company starts building more campaigns, you’ll begin to switch from useful metrics, such as the number of leads submitted, to relevant metrics, like how many leads led to a sale. You can then adjust your variables based on what’s not working or needs improvement. Even small changes such as the layout of the campaign or when you send it out can have a dramatic effect.

 

Conclusion

The tips provided should give you content campaigns that are more aligned with your goals. Driving measurable results. Content marketing is an ongoing process. So you’ll want to make sure you adjust the variables of your campaign on a regular basis. It’s good to think of yourself as a never-ending student, always looking for more information. A great place to find out more would be the Content Marketing Institute (CMI). By staying up to date, you can continue driving success in your campaigns for your organization and your customers.

 

Personal Conclusion

Having a content marketing strategy is pivotal for any business to succeed. Running a successful campaign requires you to know both your organization and customers. You’re juggling many types of marketing, trying to make them all work in unison. By knowing who your customer is and what their desires are, your content marking campaigns will be much more effective.

 

 

References
Wilson, V. (2020, December 4). Content Marketing ROI. Retrieved from LinkedIn Learning: https://www.linkedin.com/learning/content-marketing-roi/why-calculate-roi-of-content-marketing?u=2109516



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