Yesterday we wrote about the Content Marketing Association’s effectiveness study. As the title implies, it examines the ways in which companies are using content marketing, how they measure it and their budget strategies.
One of the interesting points to come out of the research is that more marketers are looking to evaluate their return on investment in terms of emotional interaction. However, there are a couple of other findings. One is that around half of respondents think it is impossible to ascertain return on investment with content marketing.
The idea itself, that ROI is impossible to quantify, should be tackled head on. It is essential for a number of reasons. Not least that most other forms of marketing – such as direct or SP – are themselves measurable. Brand advertising is the only kind that isn’t … and is always first for the chop when there’s a squeeze on marketing budget.
Three easy ways to measure ROI
Just for the benefit of doubters, it’s this simple:
Social sharing A fundamental means of measuring ROI. One of the big proponents of this method is Coca-Cola, which sees sharing across social media as the litmus test of whether content has been successful. Simply put, the more something has been shared the better it is.
Sales This is an obvious one. If somebody reads your content and it includes a call to action – be it a signup form, telephone number or just a purchase button – then your content has done its job.
Traffic Again, if your content marketing is about brand building then impressions should be the first thing you look for. If nobody is reading your content then something is seriously wrong.
Marketers should have some kind of barometer ROI set up before they run their campaigns. Why? Because it is the endpoint. If you don’t know what you’re trying to do, then what’s the point of doing it? ROI is about the strategy itself.