How to calculate the ROI of your campaign content marketing
You already know that content marketing is one of the most valuable marketing strategies that you can use for your brand. It does not cost much time or money in the startup phase and has the potential to generate a huge change. And everything is great.
But how, exactly, do you know how much of a return on your marketing content brings? What if you end up spending more money on it than it’s worth?
How to calculate the return on investment for your marketing content proactively campaign addresses these dilemmas. When you know your return on investment, you can make the necessary adjustments to improve a floundering campaign, or identify the most profitable of its strategy to focus areas in the coming months.
2 global problems will face the ROI of content
Before starting your calculation, you must know the two big problems with calculating the ROI for a marketing campaign content. The first is the long-term nature of content marketing; Almost all content campaigns begins with a negative return on investment, scaling the volume increases. Accordingly, the first ROI measures should be taken with a grain of salt.
The second problem concerns the difficulty in objectively calculating the multiple benefits of content marketing can offer. For example, it is difficult to find a numerical value for the brand of his “reputation”, but improvements can here (and) appear as additional sales.
Therefore, when the return on investment of your calculations, you must compensate both questions to get dark. Here are four steps to do just that.
1. Calculate your expenses,
First, understand the “investment” side of the “return on investment” equation. Take a look at what is happening in your content marketing strategy, and try to leave no stone unturned. If you just rely on the help of a content marketing agency, you will find it is a direct cost.
However, if you use multiple contractors or full-time employees are involved in the campaign related to your work content, you must calculate your costs, too, in terms of time and salary. Ultimately, you need a periodic assessment: for example, the amount you pay for content marketing in a given month.
2. Calculate the conversion value.
The biggest piece of the puzzle ROI is the amount of money your content brings. The best way to calculate is through your conversions on the site. First, you must set the value of a conversion, which can be very simple or very complex depending on how your company is conversions.
For example, if you offer products to buy, all you have to do is to calculate the average purchase price, but for more complex sales cycles, without direct calculation is possible. Therefore, calculate the number of conversions you get in a given month. The next step will help you adjust that figure.
3. Calculate the impact of traffic.
Now you must take these conversions and reduce to those made by people affected by their content marketing strategy. For starters, almost all of their organic traffic (search engine) is at least indirectly related to your content marketing strategy; your content attracts inbound links, which increases your domain authority and visibility to search engines.
Your referral traffic, too, is probably the result of its off-site content strategy (whether you know it or not). You can filter this traffic source if you need to be specific here. Also, if the content of your social media campaign is used, you can count on most (if not all) of their social traffic also.
At the end of this stage, you should have a total number of monthly conversions due to their content campaign. Multiply that by the average value of conversion, and you get a total monthly benefits of the content of direct marketing.
4. Consider the qualitative advantages and devices.
This target number you have reached is not the end of the line, however. You will also need to consider the devices and incalculable benefits of campaign content, such as:
brand visibility. Having your content presented in an external publication may mean that more people will become aware of your brand, regardless of whether they click on your site. You can visit your site in the future, or be more likely to click through when they see your brand again.
Brand reputation. As you gain more readers, followers and relationships with major publishers, its reputation as a brand will grow. This will make it more likely for visitors to trust your brand (and convert) in the future.
Customer retention. Its content is also responsible for maintaining its current base of loyal and satisfied customers, especially if a wing of your content strategy is dedicated to customer service. The extent of this impact is difficult to measure.
future value. Finally, do not forget that you have measured so far is only a snapshot in a long campaign. Consider the value of their future, as current efforts.
Putting it all together
As an estimate, you can compare your monthly costs with monthly campaign’s content advantages objectives to determine their final “return on investment of marketing content.” However, devices and complicating factors, it is difficult to build this figure as one of the advantages of accurate calculation.