Over at the wonderful Content Marketing Institute, they have written an interesting post that is worth a read. ROI in Content Marketing is new for many marketers, because up to now, it has largely been experimentation and innovation – which is not often held to strict measurement.
There’s rarely an immediate 30-day turnaround on investment, which creates confusion and no small amount of anxiety. When content does take hold, however, the benefits can be very fruitful — and measure you must.
The post summarises the key metrics as being:
- Consumption metrics
- Lead Generation metrics
- Sharing metrics
- Sales metrics
I guess I would group these together into two categories: Engagement (consumption & sharing) and Conversion (lead generation & sales). Then it becomes very clear what the drivers of revenue are, and engagement metrics must be linked to lead generation or sales metrics in order to be provably linked to real business value.
Can’t measure it all? Then focus on web traffic and leads (or revenue) first. If your content is generating more traffic, leads and revenue, then all the other metrics are secondary.
Consider other cost savings related to content marketing — savings that may not be easy to capture in your KPIs. For example, leads from content (such as a potential client downloading a free guide in exchange for his contact information) are better-qualified sales leads. Less time is spent actively pursuing the sale because your prospects sought you (and are further along in the consideration cycle.) Your customer service costs may also come down. Online FAQs or other resource pages can quickly and effectively answer many questions tying up customer service reps. Take a hard look at your business and determine how content marketing can make a positive impact on your bottom line, as this can factor in the overall cost effectiveness and success of a content marketing strategy.
Do click through to read the post in full.