A new study by Heinz Marketing and PAN Communications has found that two-thirds of brands are now more confident in their ability to tie content marketing to ROI but that doing so consistently year-over-year remains a problem. If you are looking to build a business case for content and ROI, here are a few tips to get started.
First up, calculate your enterprise’s average marketing ROI by analysing three key components: cost, performance and utilisation.
- A content audit covering a small sample size of creative and distribution will give you a good idea of how much you are spending.
- Tracking key metrics such as traffic and engagement will offer a snapshot of performance.
- Utilisation is a percentage for the content that gets used by your company in campaigns. This is rarely higher than 50%.
When you have run the numbers, you can start building a solid business case for ROI. Understanding how content works for your enterprise will enable you to target higher returns and put a strategy in place that will give you the power to reach and engage with new clients and customers and convert them into sales and valuable, long-lasting relationships.
What are your goals?
Content marketing is often focused on the top of the sales funnel, but brands have a compelling opportunity to engage with more early-stage prospects. The articles that you produce here should not be overtly promotional or pushy. You want to build trust and encourage them to return to make a purchase.
If you want to build a business case for using content in these early stages, you should look at how online conversations for your product category are playing out. Is the competition getting in there before you, and are you providing enough branded experiences to turn heads? You can also take a look at the cost of organic traffic versus paid methods to see whether this would be a worthwhile goal to pursue.
Whatever your goals, you need to be able to build a business case to align your efforts with ROI. Start calculating and start demonstrating results which show that content marketing works.