4 Ways to Measure ROI on Content Marketing
If you are like me and have already bought into content marketing, you have probably felt my frustration when looking for tangible ways in which to measure return on investment on the content you produce. Therefore, I am offering my 4 takeaway tips which will hopefully allow you to start measuring the value of the time you are spending on creating and sharing your great content, and help you make a more streamlined and innovative campaign.
It is so important that you are smart with your targets. Before creating a strategy, what is it that you are looking to see a return from? This could be anything from conversions to gaining more followers on Twitter. Are these goals specific, measurable, attainable, realistic and attached to a time scale SMART ? My advice would be to make monthly targets to begin with, looking at gaining traction with your content.
This is always the place to start, as if we don’t know what we are measuring, how do we know if we are seeing returns?
By attaching a value to every aspect of your content campaign in my book is one of the easiest ways to measure returns. Start with putting a high figure on the goals you would like to achieve. Are you looking to attract more visitors to the website? Place an arbitrary value on it, such as $3 and at the end of the month divide your time or wages up by the amount of value you have created.
This may seem a little strange, because who knows how much value a Re-tweet adds. However, this instantly adds a returnable value to your time, and over the course of your content strategy, you can start to analyse how many leads have come from twitter over the last month. See it almost like a social and content pay per click, allowing you to add real numbers into your charts and showing real return on investment.
One of the easiest ways to measure your returns in my mind is the leads and conversions generated through your website. Make a benchmark before and after the content strategy is implemented, to allow you to see the metrics surrounding increases in traffic and link this up to conversions.
One of the easiest ways to do this is by setting up goals within Google Analytics. This could be anything from visit duration to form entry.
For a lot of industries, especially B2B services, call tracking services offered by companies like ResponseTap offer Google Adwords call metrics. This allows you to monitor your website visitors and see what keywords and pages on your site make leads pick up the phone to call you. This should be integral to your strategy, as Google analytics won’t show you which page of your site people are calling from.
Hopefully your content strategy will include call to actions and landing pages. This is integral to creating leads and conversions and a great idea would be implementing A/B testing to continue to optimise conversion, tailor it to your audience and see what kind of content works and what doesn’t.
Monitor your KPI’s
Key performance indicators could either be set up by you, your team or your boss, but your success as a content marketer will be judged on this. It is important to emphasise that results take time and manage others expectations to begin with, however a quality content strategy will deliver them.
Some KPI’s and measures could include:
By creating these performance indicators, these metrics can simply and easily show how well your content strategy is performing. This will allow you to alter your strategy to ensure these can be isolated and targeted, increasing return on investment.
Hopefully these 4 tips have given you some real insight on how to measure ROI on a content strategy. Further down the line, real value is created when you are building communities and promoting your businesses core values and generating leads and conversions consistently.