Every business owner wants to see an excellent return on investment when it hires independent parties to take on specific tasks. In addition, it wants to ensure internal staff are providing this return on investment through their functions. When it comes to content marketing return on investment, it can be challenging to determine this ROI, which is linked to the specific goals of the company.
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Content Marketing ROI
When reading an SEO blog, a business owner might come across the phrase content marketing ROI. They believe they know what this means, but they aren’t 100% sure. Content marketing ROI looks at the revenue generated by content programs, including SEO and organic social media. Events and paid media should also be considered when calculating content marketing ROI.
The Importance of Content Marketing ROI
Business owners measure success by the amount of money they make after all expenses are paid. They want to ensure that the content being created on behalf of the business is advancing the company. Measuring content marketing ROI helps foster personal satisfaction among content creators. It ensures that engagement is increasing and every interaction with consumers is purposeful.
Why It Is Difficult to Measure Content Marketing ROI
Content plays a role in every aspect of the customer journey. One person could interact with multiple types of content throughout this journey, and these interactions occur across different channels, various devices, and at other times. The company often finds it difficult to determine precisely which interaction led to the visitor converting to a paying customer. Every company must use an integrated approach to gather and analyze customer data.
Calculating Content Marketing ROI
To calculate content marketing ROI, a company must first subtract its investment in this marketing from the revenue it generates. Once this figure has been determined, the business owner then decides that figure based on their investment in the marketing. The resulting figure is the return on investment. Most business owners know how much they are spending on marketing, but they struggle to calculate their return.
Many business owners focus on lead generation or brand awareness. However, these metrics are a small part of a much bigger picture. A business owner may turn to attribution modeling to determine their content marketing ROI. Multi-touch attribution helps decide which channels or actions led to a visitor becoming a paying customer.
However, the business owner might find marketing mixed modeling is a better option. This method also looks at how different channels contribute to revenue. Individual buyer behavior is not tracked using marketing mix modeling. What makes this method popular with several business owners is that it also takes into account economic conditions, seasonality, and other external factors.
Additional Methods
Business owners might choose to use other methods to determine their content marketing ROI. Incrementality testing is one option, and tracking KPIs is another. Each owner must compare the various methods to find the best fit for their organization.
Tracking content marketing ROI is essential today to ensure a business is getting its money’s worth in this area. The information gained from tracking ROI helps improve the marketing strategy. A company will know which channels are generating the most revenue so that it can focus its efforts on those areas. Doing so will help the company grow and reach a larger swath of the target audience.
