Content marketing metrics that matter, part 1: How to measure content marketing ROI
The Scribble Weekly|
Vol. 1, Issue 6
You’ve taken the steps to build out your content library.
And now that you’ve published several posts and committed to a regular cadence, you’re excited to see the fruits of your content marketing labor.
But before you check Google Analytics or metrics from your content management system (CMS), you should understand what they are and why they matter.
If you’re not entirely sure about what to measure when it comes to a content marketing return on investment (ROI), then this Scribble’s for you.
What matters gets measured
And it achieves these results with 62% less costs than other marketing efforts.
You read that right. But we know what you’re thinking.
This all sounds great! But how do I know if what I’m doing is actually working?
Metrics that matter, part 1
At Scribe, we consider an assortment of content marketing metrics to determine if a piece of content is “worth the work.”
While we like to believe that everything we produce will win a Webby Award, that’s simply not the case. A reader may gravitate toward one thing over another and that’s just human behavior, but the fun part is seeing what they like the most and how they interact with it.
We’re going to share all the wonderful ways we measure the success of our content, with our first installment here.
We hope this gets you thinking about how you structure your “content funnel,” or the sales value chain of how you are obtaining your customers from the moment prospects hear about you, to when they become your customer.
Here are the first 3 top content marketing metrics that can help you determine how well your content is performing:
Page traffic represents the number of people who are visiting your site and viewing your content.
Over time, as your content library grows, and you are deliberate with your amplification efforts (e.g., consistently pushing out content at a regular cadence and posting about your content across social media), this number should grow.
The more traffic, the more likely your prospects will see your product or service.
How to measure it: Google Analytics or your CMS should be able to tell you your page traffic by URL.
This measures how well your audience interacts with your content.
If you’re in a product or service business, then you should have solid “calls to action” throughout your site. These can either be in the form of newsletter subscription signups or opportunities for readers to ask for more, like a financial advice consultation, a free trial to a crypto coin exchange, or a demo to a new money management app.
You’ll want to track the number of these new prospective customers.
The more new leads the better, and the more likely they’ll convert into actual customers.
How to measure it: New email newsletter subscribers or signups from any marketing buttons are signs this is working.
If your site is set up for e-commerce capabilities and you make a sale as a result of a blog post, or, for example, even if a customer starts a new loan application after completing a pre-qualification form, then you’ll want to track these conversions to actual sales.
This is a significant part of your funnel and helps let you know what copy works best at convincing and closing new customers.
Once you learn that, then you’ll want to mimic the language, structure, and even colors that led to those great results.
How to measure it: Sales, purchases, loan applications, and new account signups are all successful triggers for content conversions.
Compare these numbers to what you actually paid or are paying to generate your content, and you should be able to get a good sense of your ROI.
ROI content formula
In its simplest terms:
ROI = (Gain - Cost) / Cost
Say you spent $1,000 on content marketing and received $1,500 in additional sales.
Your ROI would be:
($1,500 - $1,000) / $1,000 = 0.5 or 50%
Congrats! You got a 50% return on your marketing costs.
Of course, ROI may be way more complicated.
It takes time to convert page traffic to leads and leads to sales, so you may not see returns right away.
It’s also difficult to separate out the impact of content marketing from all the other marketing your company is doing.
Your content marketing team can set up Key Performance Indicators (KPIs) and goals so that they know how well your content marketing strategy is working.
At Scribe, we can help you create content that grows the top ROI metrics. We can also help you decode the metrics and optimize your content for better numbers.
For more information about how to create an effective content marketing strategy to get real ROI for your company, contact Scribe at email@example.com today.
— Your friends at Scribe
Join us next week:
Metrics that matter, part 2
A TV or movie review
P.S. We've been busy bingeing on streaming TV and finishing up our latest reads. We'll be back next week with a TV or movie review.