The top goals of content marketing are to increase brand awareness, boost engagement, drive traffic and ultimately drive sales conversions. So how can you measure this?
Content marketing is generally a ‘top of the sales funnel’ activity so it’s harder to measure how it translates into sales compared with bottom-funnel marketing activities – like when someone clicks on a banner ad then buys a product. Even so, building awareness about your brand is the most important place to start when it comes to marketing.
Content marketing has become an art AND a science. Data is a science and there are huge amounts of detailed information available about your audience that you can use to reach your market today like you never could before. The creation of content is still an art form, but there are limitless tools available to help make the process more scientific using social media metrics.
Measuring Social Media Results
Marketing automation tools like Buffer can show whether you’re getting the most from your social networking. You can see your most popular posts over time and tell if you need to do more to increase your audience. You can also compare your average social media post’s performance to the average current post performance to see how well it did.
Your social media content can’t really be expected to generate sales. Its role is to entertain people and introduce your brand to audiences who may not become your customers just yet. Your social media marketing is designed to build trust and connect your brand with your audience. When they know and trust you, they’re more likely to search for you online when they need your product or service.
The best way to measure the results of your social media marketing efforts is to track engagement (shares and comments) and traffic to your website where you can measure how many visitors clicked your links, played your videos or signed up to your lists.
Measuring Website Results
Website traffic is the most popular way most businesses measure their content marketing efforts. Google Analytics is the most important tool for measuring how pages on your website are performing. It can also tell you a lot about the actions visitors to your site take when they arrive there. You can sign up for free to get insights to improve your website.
Auditing your website is quite a detailed and time consuming process but the results are well worth it. You can do this yourself by following the steps outlined in this blog or you can hire someone with experience to do it for you.
A/B testing is an important way to measure results from your web pages and find out what appeals most to your market. The ideas is to show two slightly different variations of a landing page to the same audience so you can learn which one converts best for you. You can choose two different headlines or images or colours, for example.
Calculating Content Marketing Conversions
News Cred outlined these 3 core metrics you can use to measure conversions from your content marketing:
1/ Cost per lead – calculate how much you spent to acquire a lead. Work out the total cost to produce your content including creation and distribution. Count your total new leads, including number of qualified leads, you received from the content. Divide your total cost by your number of qualified leads to get your average total cost per lead for content marketing.
2/ Percentage of leads sourced – work out what percentage your content marketing contributed towards your total number of qualified leads if you know how many qualified leads you got from your other marketing programs such as advertising or events.
3/ Conversions – percentage of people who take a desired action – to find the actual revenue sourced by content marketing, you need to know your conversion rate and value of your average sale. Multiply your number of qualified leads by your conversion rate (say 50%) to calculate your number of conversions. Then multiply your conversions by the worth of your average sale to find the value of your content marketing conversions.
When measuring results, be aware – content marketing is not a silver bullet. It’s a strategy that takes time and persistence. It requires consistent marketing, rather than one-off campaigns to realise its full benefits.
This post concludes my blog series on ’11 Keys to Cracking Content Creation – solving the content marketing problem for savvy business marketers’. Leave your name and email at the bottom of this page to download my eBook for a summary chapter and to learn more about me.