Content marketing is a long-term solution. Here’s why it takes so long to see results.
You are committed to your content marketing program. You’ve created blog posts, uploaded videos, and collaborated with industry leaders. You may have started noticing an increase in web traffic, social reach, and other engagement metrics like time on page. You’re on the right track!
The problem is your lack of leads or sales. Your boss is pressuring you for results, and you’re starting to question your efforts. Are you doing something wrong?
The answer is NO.
In fact, you’re doing everything right. Now you need to give your investment time to deliver on your return. But I know you’re asking, “Why does content marketing take so dang long to work?”
[bctt tweet=”Content marketing is a long-term solution that helps businesses build brand awareness, grow their audience, and generate new leads and sales. ” username=”Fronetics”]
Content marketing is a long-term solution that helps businesses build brand awareness, grow their audience, and generate new leads and sales. But it takes time and effort to achieve results. You don’t want to give up before you see the fruits of your labors.
Just how long will it take for your content marketing strategy to yield results? Well, that really depends on your business and your goals, but you can count on at least six months. Content marketers Neil Patel and Carol Ann Tan both write that content marketing strategies take at least six to nine months to start seeing results.
But that doesn’t mean you should throw in the towel. Here are 4 reasons content marketing doesn’t show results overnight but is still well worth your time and investment.
Video: 4 reasons why it’s NOT time to give up on content marketing
Please don’t give up on content marketing before it’s had time to play out. We understand you want to see the fruits of your labor. But if you pull the plug too early, you’ll lose out on your initial investment, not to mention the leads and sales that are eventually coming your way.
Use these three steps to calculate content marketing ROI to show the value of your investment.
As supply chain and logistics businesses are finally recognizing the merits of content marketing, many are looking into it. But it doesn’t take much research to realize what an enormous investment it is. And how difficult it can be to calculate content marketing ROI.
[bctt tweet=”A data-driven approach to calculating Content Marketing ROI lets you continually adapt to the needs of your audience, ensuring an ongoing, robust ROI.” username=”Fronetics”]
Many companies we talk to need help convincing management that it’s a worthwhile investment. To that we say, use data!
But what data should you use? How do you quantify certain benefits, like growth in brand awareness? And do you really have to keep track of all the hours you spend writing blog posts, managing social media, etc.?
Here arethree basic steps for how to calculate content marketing ROI.
3 steps to calculate content marketing ROI
1) Set up your ROI measurement.
It’s important that you measure content marketing ROI at the initiative level. This means calculating the ROI of your blog, your webinar series, your Facebook marketing, etc. individually.
After calculating the ROI of each initiative, you can aggregate that data to determine your overall content marketing ROI for your business.
2) Know as much detail as possible.
“To measure ROI, you have to know, in as much detail as possible, the R (return) and the I (investment) of your content initiative,” says Jay Baer, president of Convince & Convert. Baer walks his readers through the example of figuring out ROI for a podcast, including calculating total investment in the project (including preparation and execution), and calculating total return.
Content marketing is about creativity. By the same token, think creatively about every measurable avenue of return in each of your initiatives.
3) Calculate your ROI.
The formula for ROI is universal: return minus investment, divided by investment, expressed as a percentage.
And there’s some good news for supply chain and logistics content marketing: “Content marketing ROI calculations are indeed easier for B2B companies because they almost always have visibility at the transaction layer,” writes Baer.
Once you’ve calculated ROI for each of your major initiatives, it’s time to think strategically about optimizing your content marketing resources, in terms of allocation and timing. Having hard data helps you answer questions about which initiatives are most fruitful, what language engages your audience best, when your efforts are most likely to pay off.
Ultimately, this data-driven approach lets you continually adapt to the needs of your audience, ensuring an ongoing, robust ROI.
Here are four simple steps to measure your company’s content marketing ROI and the success of your content marketing strategy.
Measuring your content marketing ROI gives you valuable insight into what’s working (and what’s not) with your content marketing strategy. It’s important to measure if your efforts are profitable so you know where to put your time and money.
Content marketing ROI is harder to quantify than just tracking how many likes your social media pages have. But tracking certain metrics is important for understanding how your content marketing activities are performing. Keeping a close eye on your ROI allows you to make cost-effective marketing choices and to avoid costly mistakes.
In the article, How to Measure Content Marketing ROI: A Simple 4 Step Process, eCommerce content marketing and SEO consultant Bill Widmer breaks down the simple four-step process that will quickly — and effectively — measure your content marketing ROI.
Every company has specific key performance indicators (KPIs) that help shape their marketing strategy. These KPIs will be the foundation for measuring your content marketing ROI.
Infographic: How to measure your content marketing ROI in four easy steps
We all want to see the fruits of our labors. Whether launching a new social media campaign or creating new videos for your blog, we look for instantaneous numbers that will affirm we made the right choices. Calculating ROI might take some time – both in the few extra minutes to do the math and the amount of time that needs to pass before all the data is available — but that number will be invaluable to you.
Here are four simple steps to help you measure your company’s content marketing ROI and the success of your strategy.
Lean-startup pioneer Eric Ries said, “The only metrics that entrepreneurs should invest energy in collecting are those that help them make decisions.” In other words, measure the things that will tell you if an effort was profitable so you know where to put your time and money.
But most companies aren’t using the right metrics to track their content marketing ROI. For example, 83% of B2B enterprise companies (over 1,000 employees) use web traffic as their main metric for measuring content marketing ROI. A spike in homepage hits could be the result of your hard work, but it could also be ghost spam, or even both! So clearly, web traffic isn’t the most reliable metric.
Content marketing ROI is harder to quantify than checking a few quick numbers. But don’t give up hope. In the article How to Measure Content Marketing ROI: A Simple 4 Step Process, marketing consultant Bill Widmer breaks down a simple, four-step process that will quickly and effectively measure your content marketing ROI.
What is content marketing ROI?
Content marketing ROI is how much revenue you gain from content marketing in comparison with what you spend on creating and distributing content. It’s an actual percentage that shows how much revenue you gained vs. how much money you spent. And for a lot of businesses (and bosses), this percentage is very important. They want you to be able to prove that the marketing dollars that are going into your content marketing strategy are actually pulling in new business.
Every company has specific key performance indicators (KPIs) that help shape their marketing strategies. Here at Fronetics, we believe that your content marketing strategy should take these KPIs into consideration when thinking about your ROI:
Website traffic
Leads generated
Conversion rate
Direct sales
Obviously content marketing has more benefits than these four KPIs demonstrate — including better customer retention, brand awareness, and improved SEO — but to begin to measure your ROI, let’s focus on these four main points.
Measure content marketing ROI in 4 simple steps
1. Download your reverse goal path data.
Andy Crestodina, co-founder and CMO of Orbit Media, suggests:
Go to your analytics dashboard. Set the date range for at least a year.
Go to Conversions > Goals > Reverse Goal Path.
Add a filter like “/blog” so only blog posts show up.
Sort by Goal Completions.
After this step, you’ll be able see which of your posts have driven the most conversions. But you can’t stop there. These are simply conversion numbers. We want those numbers to become conversion rates, so let’s keep going.
2. Download your pageview data.
In order to calculate a conversion rate, you need to know pageviews. Here’s how to get that information:
Go to Content > Site Content > All Pages.
Filter with “/blog” to get only blog posts.
Download this data into the spreadsheet from step one.
3. Get your conversion rate.
Now here’s a little math for you. Divide the data in the “conversions” column by the number in the “unique pageviews” column. This will give you your conversion rate per blog post.
This will show you what your best-performing pieces of content are, and what posts need to be updated to gain more views and shares.
This information will give you valuable insight into the topics that your target audience are reading about and how you can better plan for high-ranking content in the future.
If you have posts or pages that are older — like over a year — and they haven’t gotten any views or conversions, it’s time to think about reworking them to have more appeal to your target audience.
For your actual percentage, you’ll need to calculate how many of these leads have converted to sales.
4. Calculate content marketing ROI based on lead conversions.
Here’s where things get a little more complicated, but still very manageable. You need to start putting tags on your leads according to the content they came from.
You can use programs like WordPress or Blogger to help you automatically tag any leads that came from a specific form. Assuming the form correlates to a single blog post, you will know that any leads with that tag came from that post.
You can also connect your leads with a CRM, such as HubSpot or SalesForce, and track which leads came from specific emails. These programs easily integrate with your analytics and email marketing platforms for up-to-date numbers and data.
Here’s how to quantify the impact of content marketing on brand awareness, a notoriously difficult benefit to measure.
A successful content marketing strategy strengthens the relationship between brands and their target audiences. And brand awareness is a key component to any successful content marketing strategy. Ultimately, the more aware audiences are of your brand, the more likely they are to buy your products or services.
To properly measure the impact of your content marketing, you must start at the beginning, with the overall goals for your content marketing strategy. What kind of content are you creating? Why are you creating this content? How will this increase sales or grow your business?
A lot of our customers include increasing brand awareness among their content strategy goals. But this is a very difficult objective to quantify. How can you measure how familiar people are with your brand?
Here are four metrics we recommend for tracking the impact of content marketing on brand awareness.
4 metrics to measure the impact of content marketing on brand awareness.
1. Social media reach
Tracking the reach of your social media content is a good gauge of the impact it’s having on your brand awareness. Companies can waste a lot of time trying to track down information on various social media accounts; don’t fall into this trap.
Use tools, like Shared Count, that show how many times a piece of content has been shared on social media. Shared Count accurately tracks the social reach of your content on the most popular social media sites — including Facebook, Twitter and LinkedIn — to easily keep track of your social reach. In turn, you can discover the impact your social reach is having on your brand awareness.
2. Brand mentions
Not to state the obvious, but if people are talking about your brand online, it’s safe to assume they are aware of you. There’s a great deal of value in knowing what customers are saying about your company and your products/services. Monitoring brand mentions online can provide honest feedback and objective insight from current and potential customers.
There are several tools to help you track brand mentions online. Here at Fronetics, we prefer the ease of Google Alerts, which allows you to set up custom alerts when your brand is mentioned online. We also use Hootsuite, where you can track brand mentions, as well as keywords and phrases, across all of your social media platforms.
3. Media mentions
Media mentions differ from brand mentions in their origin. Media mentions come directly from publishers, instead of customers. These mentions include any media coverage — TV, print, social media, interviews — that include your brand. Remember, if publishers are talking about your brand online as a result of the content you’re creating, it’s impacting your brand awareness.
And let’s not forget about linkless mentions. As Google and other search engines continue to update their algorithms, it’s crucial to update your monitoring practices. Linkless backlinks are becoming increasingly popular and can have a huge impact on your brand awareness (and SEO!).
4. Branded searches
Knowing how many people are searching for your specific brand tells you a lot about how well known your brand is. Using online tools, such as Google Adwords or Moz, you can track the searches for your products, blogs, social media platforms, and any other variation that you find useful. These tools are free, easy to use, and perfect for determining if your company is popping up when customers are searching.
Using these tools to measure brand awareness offers clues that customers are finding your company in their search efforts. If the needle is not moving in a positive direction, always adjust your strategy to until you find what works for your business.
Drawing the public’s attention to — and heightening their knowledge of — your business ultimately generates leads. And some of those leads will turn into sales. But, let’s be honest: this doesn’t happen overnight. And it’s often difficult to quantify.
That’s not a reason to throw in the towel. There are ways to measure the work that you’re putting into your content marketing program. Using these metrics, you can start tracking the impact of content marketing on brand awareness.
