Creating valuable content for your marketing strategy can be one of the most difficult aspects of modern marketing. From there, measuring the value of your content is the second half of the marketing battle. If you’re struggling with one or both, you are certainly not alone. According to the Content Marketing Institute, almost 47% of B2B marketers are not measuring the value of their content. That means that nearly half of content marketers have no idea how successful their content marketing truly is, and may not have a clear path to sustainable success.
How Much Does a Customer Cost?
The first step to overcoming the challenge of measuring content success is to establish a cost for conversions. For example, you likely know how much a lead costs you. How many leads does it typically take before your sales team converts? This average, your conversion ratio, will help you discover how much a customer is worth to your organization.
Taking this into account, you can determine how much you can reasonably afford to spend on your content efforts. It’s important here to put every dollar to its best use, because you want your spend to be significantly less than the value of acquisition you determined above. This will give you your content ROI.
Complexity of Measurement
Unfortunately, measuring content doesn’t end there. It’s a far more complicated process that has to take into account a variety of factors in order to accurately illustrate content analysis.
Here’s a few important things to consider when creating your content measurement criteria:
- Timelines: Campaigns take time, so it’s important to give yourself enough time to ramp up and execute content efforts in order to calculate accurate content assessment.
- Expectations: At the outset of your content launch, settle on realistic aspirations. These should be based on past performance and/or data from similar competition.
- Consumption: This is your first measurement, and it takes into account views, likes, time on page, and other such surface-level assessments of performance.
- Reach: Be sure to take your geographic, demographic, and firmographic reach into account in both planning and assessment. Avoid targeting an audience that’s too wide to truly reach, but don’t limit yourself by narrowing your audience too much either.
- Shares: Social media and other platforms will give you analytics such as retweets, shares, reposts, etc. These are important tools in assessing your content’s success.
- Engagement: Digging in further, you should track all opens, clicks, and other direct engagement factors.
- Leads: Now we’re cooking! Gather data on your incoming marketing qualified leads (MQLs) through sign-ups, subscriptions, and requests for information. You may also get some sales qualified leads (SQLs) through requests for quotes and direct requests for pricing.
- Sales: The easiest and probably the most gratifying part of the process is assessing how many direct sales came directly from your content.
Not one of these factors can stand on its own to accurately assess your marketing content. Rather, each of these is an important piece to a bigger puzzle, and combining them gives you a clear view of your content. With this information in hand, you can then optimize your content by changing topics, audiences, or campaign methods as needed to raise content ROI.
Continue gathering this data throughout the life of your campaign in order to gain insight into the true value and success of your content marketing. If you're ready to learn more about how data and content work together, check out our recent post about the "data"-ing game. For more information about how to evaluate lead value, content, and more, visit mobius.bi and discover how the Mobius Platform assesses and utilizes demand units.