A series of weekly videos shared on Facebook generated 15 new customers for you over the course of a month. Pop quiz: is that result worth the effort you put into it?
There's no way of knowing: You need to identify acquisition costs, marketing spend, lifetime value, and more; you need to compare stat A with stat B. In short, tou need to put the data into context.
Content marketing in 2016 was an undisputed champion. A full 60% of marketers create at least one piece of content each day. Content marketing leaders experience traffic growth that is 7.8x higher than that of content marketing followers. Inbound (i.e., content) marketing costs 62% less than outbound methods, but generates 3x as many leads.
But (there's always a "but") some may question the point of it all. Sure, content marketing spreads brand recognition, assists with SEO efforts, and builds your reputation and authority, but is that enough?
If you're on the content bandwagon but don't know your customer acquisition cost (CAC) and customer lifetime value (CLV), you're playing a dangerous game: You might be spending thousands on blog posts or infographics and assuming it's worth those seven new clients you picked up, but is it really worth it?
To some, it always comes down to dollars and cents. They want to see facts and figures that demonstrate the monetary value of the strategy. In the past, that kind of talk had content marketers gasping, clutching their chests, and muttering about "engagement this" and "awareness that" under their breath.
But you can show the financial side of content. It can even be simple. And you need to do it to understand the big picture.
Ready? Even if math scares you a little, I promise this won't hurt.
Take the first step (it's free).
You may also like:
- Forget ROAS, It's All About ROMI Now
- A Better Way to Gauge Sales Lift: Closed-Loop Measurement
- What You Need to Know About GDPR and Data Privacy: Lisa Loftis of SAS Talks to Marketing Smarts [Podcast]
- The Marketing Metrics That Matter to the Bottom Line
- How Content Intelligence Can Empower Your Business [Infographic]