Content marketing is a big part of business strategy in 2016. More and more companies are creating content as an official marketing channel. There’s this premise that it if everyone is doing it, it must be working.
But what is the ROI? Will content marketing work for you? How do you track it?
The key to any good marketing campaign is being able to measure the results in real dollars. If you can’t do that, there’s no way of actually knowing if what you’re doing is profitable. Sadly, many small businesses don’t track ROI on most of their advertising. They just don’t understand or don’t have the capabilities to do it.
They’re not alone. Even large businesses struggle with ROI sometimes. According to the Content Marketing Institute 's
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The large majority of those businesses have no idea if it’s working or what they’re actually getting in return for their money. However, they do know they’ll spend more time, resources and money creating content in the next year.
Does this sound like your company?
The good news is that you’ll soon be miles ahead of the companies that are bumping around in the dark: You’re about to find out how to measure your ROI on your content marketing.
goal ROI
Define The Goal
It’s extremely hard to determine what your ROI is without knowing a little more about your sales funnel. More specifically, the last part of that funnel: what is the end goal? This is usually what generates the revenue. Your content marketing strategy could be as simple as sales, or it could be as complex as using content to move people to the next portion of the sales funnel. Whatever your conversion goal is, defining it is step 1.
For the purposes of this article, we’re going to keep it simple and directly tie content to sales to show how measuring it can work. However, if you’re using content to achieve another goal: growing a leads list, moving people through the sales funnel, or getting data – just replace the dollar amount with your metric of choice.
For some people that sell a simple product or service, it’s really easy to look at the sales numbers and know if they’re going up to down. For others that have multi-faceted business with many sales channels and product lines, it’ll be a little
The utmost aim of our strategy in digital marketing is to drive traffic while at the same time ensuring increased leads and conversions. Results
It can be disheartening at times to produce content that will compete with massive industry leaders, especially if you have a local market that is competing with a global business. More and more of these massive corporations are seeing the value of content marketing and making it a part of their digital strategy.
Recently, the Sales Training Department has developed a set of Key Sales Indicators (KSI 's) to monitor each Sales Representative 's sales performance against predetermined monthly targets. This was done to align the MAP to XYZ goal of improving sales performance and to reinforce the selling mindset of the sales department.
You can get some very specific tips on improving the ROI of your paid marketing from our blog.
At this point we have seen sales over time development and a simple regression analysis,
The world of content marketing has come into its own over the past several years and today, content has become an integral component of an effective marketing strategy. However, things are about to change for people involved in content writing, social media marketing, data collecting and content distribution.
With customer loyalty and better customer relationships also comes an improvement in sales. Customers frequently return to conduct business, as well as alert others of the company via word of mouth. This can generate more revenue for the company. However, there is another way that business intelligence systems can lead to an improvement of sales. Business intelligence can help companies determine how to promote and advertise their products to potential customers. For example, in the grocery industry, companies can promote certain products by sending out coupons to their customers that are likely to purchase that item. When the customer receives the coupon, they are more likely to purchase the item, whether or not they had
For you to improve your content, you need to ensure that your objectives align effectively with all your marketing strategies. You can do this by evaluating your previous content and know whether you covered all the objectives and utilized the content assets. The step is essential when planning a content marketing strategy.
Typically, a business’s growth can also be measured by important statistics such as turnover, market share, profits, sales, or staff numbers (HBR – PROFITABILITY). According to the Harvard Business Review (HBR – PROFITABILITY), a project undertaken by the Marketing Science Institute on the PIMS (Profit Impact of Market Strategies) is “aimed at identifying and measuring the major determinants of return on investment (ROI) in individual businesses. Phase II of the PIMS project, completed in late 1973, reveals 37 key profit influences, of which one of the most important
Content marketing may be a booming trend, and the number of content marketers and strategists is increasing weekly, but there aren’t too many resources out there for anyone new to the job. Even with a solid understanding of the purpose of content marketing, and a strong affinity for writing, I was still caught off guard by how different – and sometimes difficult – my position turned out to be.
In today's marketing landscape, telling a gripping story isn't enough. An effective content marketing strategy should be optimized for the search engines while at the same time being funneled into a larger automated lead generation program. If your chosen NYC content marketing agency isn't applying the industry best practices throughout every stage of your buyers' journey, you should consider finding someone else who will.
Content marketing is 62 percent more affordable than traditional advertising campaigns and it generates nearly three times as many leads, DemandMetric statistics show. At the same time, only 32 percent of marketers report that they have developed an effective content marketing strategy.
Content marketing saw many changes and advancements into the strategies of digital marketing and organic search. As the terms SEO and search engine optimization have been seen more in a negative light and digital marketers have looked to content marketing strategies to bring higher organic rankings with their pages and sites. While these have been productive as the digital sphere continues to learn what Google is determining, 2014 will continue to showcase new trends and place more importance on certain areas of content. Content Marketing Institute also released a recent survey of B2B marketing trends that shared that 93% of marketers plan to use content marketing in 2014.
Marketing is a necessary investment for generating and maintaining profit, rather than just an expense, and thus, marketing executives need to know the return on investment (ROI) of their marketing expenditure. However, measuring marketing activities can be problematic. To take a simple example, the investment in an advertising campaign is easy to establish, but calculating the results is imprecise because so many other factors impact sales. To overcome the problem, many companies are looking at activities that can be measured more precisely, such as direct marketing and online advertising where response rates are easily measured.
Prepare to share more organizational activities with your followers, especially the "behind the scenes" content. When it comes other types of content, like recorded videos, images and blogs, only post and share high quality content. Eighty-five percent of marketers believe posting higher-quality and more efficient content was the major reason for success in 2017. So, focus on original content that's personalized to users and communicates to their emotions.