An increase in sales and improved engagement are some of the great benefits of content marketing. But if you try to determine your ROI on content marketing, you will find it more difficult to find than in case of other methods like advertising for direct sales and promoting your sales pages. No immediate success is generally visible in case of content marketing. However, it surely provides a long term success over a longer period of time.
And content ROI will not always be in monetary terms right at the start. Citing an example, your newly created content that is informative enough to address a certain problem for your audience might not result in direct sales but it possible that it generates more signups to your list. In such a case, the ROI being generated from that single piece of content is more related to signups than as a monetary benefit.
However, in case of content marketing, you might like to measure the following metrics:
* Brand awareness – Is your content marketing resulting in creating more awareness for your brand and is a vehicle for giving exposure to your services and products to newer people?
* User engagement – How your content is improving user engagement on your website?
* Subscribers – Have you seen an increase in new subscribers to your list? If so, was it result of a new piece of content that your website carried?
* Revenue – Do you notice a visible increase in your revenue as more people are transported through your funnel and is it possible for you to pinpoint that what exactly was the starting factor?
Are the resulting stats from these metrics exactly in line with what you had expected or you are off target? Is it possible for you to determine important indicators like subscribers, impressions, traffic, engagement, and information reach when you post new content? And very importantly, are you aware of the time taken by your audience while they consume your content? Is you content powerful enough to push visitors into sharing it on their social media channels? And what exactly is the point when visitors are turning into buyers?
All these metrics and stats are important for realistically determining the content ROI. If you are doing things professionally, you might already have devised a documented content strategy and you might have set goals regarding every content that you create. Make use of the tools like Google Webmaster Tools and your email marketing software to make continuous analysis and determine if you are making progress to your goals.
Three most important aspects of content marketing are engagement, reach and conversion. Therefore any stats that you can get related to these three factors are worth tracking. And the only way to determine if you are meeting goals you set in your content marketing strategy. Moreover, you can make use of projections from this data to set your content marketing budget.
By carefully predicting your content marketing ROI and then keeping track of your progress and what is actually happening on ground, you will actually be carving out the right path for yourself with regards to your content marketing strategy and budgeting. However, if you arrive at the occlusion after tracking these metrics and you find out that things are not working as required, it does not mean at all that content marketing does not work.
All it indicates is that there is something in your strategy that needs tweaking or that the content you are putting out is not the right content that is required for achieving your goals. These are all signals that you should readjust your strategy.