Content marketing helps build your brand awareness, generate leads, and increase conversion, ultimately leading to a positive ROI when done correctly. The success of your content marketing efforts depends on the target audience’s response to your content and overall marketing goals. So, how can you measure the success of your content marketing efforts?
- Set clear goals for your content marketing efforts.
You can only measure the ROI of your content marketing efforts if you have a clear marketing goal. Establish specific and measurable goals that align with your overall business objectives. A common goal for content marketing efforts is to increase website traffic, generate leads, and drive sales; these goals are measurable and attainable.
- Track metrics.
You have to know your KPIs that reflect your goals. The 7 content marketing metrics that matter are website traffic, onsite engagement, social media engagement, and SEO success. Knowing the KPI metrics of your content marketing effort makes it easier to plan and set the specific goals.
- Use analytics tools.
You can use analytics tools to measure the efficiency and effectiveness of your content marketing effort goals. Common analytics tools used by digital content marketers are HubSpot, SEMrush, and Google Analytics.
- Calculate the cost of your content marketing strategies.
Calculate how much you have cost in paying for the content creator or work done by your content management team. Whether you have an in-house content marketing team or an outsourced one, record all the costs you have made to generate those graphics, videos, and other content produced.
Include any paid promotions, special tools or software you have invested in for your content distribution. Adding all the costs give you the actual cost of your content production.
- Calculate the generated revenue.
If your content goes well, it generates leads and turns them into sales. There is a link between content and revenue. Let’s say an audience reads your content, which makes them click on your call to action and generate sales. When you add up all the sales from your content, that is how much you earned.
Revenue includes direct sales from your website, generated leads, and increased brand awareness.
- Compare the cost and revenue.
This is the moment you know whether your content marketing strategy is working or not. A good rule to remember in measuring ROI is that if you have only spent less on producing and distributing content than what you earn, you are doing it right.
Compare the cost of your content marketing efforts with the revenue generated, and you can determine the ROI of your content marketing efforts. A positive return indicates your content marketing efforts are effective, but if it is negative, you need to re-evaluate your content marketing strategies.
It is crucial to measure the ROI of your content marketing efforts to determine the effectiveness of your strategy and help you make more informed decisions about your future content marketing strategies. Determine the success of your content marketing efforts on your business goals, and make the proper adjustments to your approach if you think the previous strategies are ineffective.