Some would say that calculating ROI for content marketing is not possible. This is not true. The return on investment of your content marketing can be derived, just not by the traditional formulations. To figure out the financial result of your efforts, you have to keep the entire marketing strategy in mind. This mean following it from conceptualization to the final implementation. It is not a simple matter and there can be many reasons why you are having trouble figuring it out.
ROI on content marketing can actually be greater than most other targeted advertising. This information comes from former senior director for data, content and media at Kraft, Julie Fleischer. So maybe it would be worth it to look further into how you too can calculate and as a result, maximize your ROI. Here are some helpful tips that can help you break the myth that ROI on content marketing is immeasurable.
What are your marketing objectives?
If you have chosen to use content marketing your reasoning for it should be sound. Why are you employing this means of marketing your business? Claiming it to be a logical thing to do in this social media addicted age is not enough. There have to be clearly defined goals and outcomes that you want to aim for. Set concrete targets like gaining 25% new email subscribers by a certain time. Your content efforts need to be aligned to measurable outcomes. This automatically results in measurable ROIs when you see these goals achieved.
Aim your content to promote action
The main objective of marketing is to get people to take an action. It could be to go out and buy your product, sign up to your mailing list or give feedback. Whatever actions you want your clients to be taking, you need to gear your content towards that. Keep the buying cycle in mind when you create content. Guide your audience towards doing what you want them to do. To know what content works at what time, talk to the people such as client relationship managers, public relations officers, people whose job it is to deal with the customers.
Don’t rely on one metric
Most social media can be tracked and its performance measured. This does not mean that you should be relying on simple statistical update from one source. Most of these tools use different variables and factors to calculate and present their findings. It would be in your favor to use more than one reliable metric tool. You cannot associate a value to a single piece of content. This is because all of your content should be geared to furthering your objectives and pushing along the buying cycle as a whole. Just because one blog post was shared a hundred times does not mean that your overall content marketing strategy is working.
You will not see instant results
The thing about content marketing is that it gives delayed results. You will not be awarded with an immediate outcome. Content marketing requires commitment and regular upkeep to produce results. This is what in the end, reaches the goals you have set out. Hence measuring ROI on each attempt is futile. As such, calculating ROI of content marketing needs a different approach from the traditional methods. To see calculable results in this case you will have to wait to see the aggregate result of the marketing.
The reason why people believe ROI on content marketing to be immeasurable is because it defies traditional methods. In fact all you need to do is change your approach. Not all ROI is directly monetary and as such different methods to calculate it become necessary.