For the website developer and marketing specialist, few metrics are, ultimately, as important as the return on investment, or ROI. After all, it is a representation of how effective your marketing program is, vs. the financial investment. By accurately measuring the performance of the multitude of channels through which you extravert the information about your product or service, you put yourself in a position to improve dramatically.
Steps to Optimizing Content ROI for Content Marketing
Discerning the Contribution
First and foremost, you want to locate and aggregate the highest level revenue contribution – which could require a bit of work on your own. The beauty of this, however, is that there exist a plethora of tools to assist – if not outright fo it for you. For example, find the revenue contribution of ebook, whitepaper, and product education downloads; all the way to the end of the sales funnel. This is the first step in helping you tweak the channel to make it more efficient (once you have the number).
You will find that you can easily discern your most valuable content once the above is completed. This can come in the form of webinars, ebooks, whitepapers, infographics (a popular and often successful avenue of product promotion). By comparing these, you can determine which ones to prioritize and which ones to get rid of due to inefficiency.
Finding the Relevant Attributes/Channels
Although it may seem like there are many ways to break down the content ROI; not all of them are created equally – more importantly, the best ones all reduce to the following: you want to find the rate of success of each portion of your revenue stream, so as to be able to axe content with subpar performance (when compared to the other components). From here, revenue variance is easily extracted – this helps you better understand the correlation between different parts of your content strategy. Lastly, there’s the time dependence – which is just a measure of the time it takes for a subchannel to bear fruit. Older content tends to fare better, for obvious reasons; but you can still compare the content of the same age with each other to optimize your overall content marketing strategy.