With so many tracking tools available, marketers have access to a wide range of analytics. Some of the most popular are:
- Social shares
- Value of site interaction
- Conversion rates
- Click-through rates on email marketing campaigns
While many measurements are important when determining the success of your content marketing, Michael Brenner, keynote speaker, author of The Content Formula, and CEO of Marketing Insider Group offers this:
Demonstrating your return on investment may be more important now than it ever was. Most CEOs expect their CMOs to give ample weight to revenue growth in their marketing strategies. Companies today expect marketers to give them a clear view of their ROI in order to help them make smart budgeting decisions.
Brenner also suggest that the metrics listed above offer a clearer picture of your content marketing ROI. While these numbers might give you a qualitative view of whether your marketing is generating a return on investment, the numbers aren't quantitative.
To get a more quantitative view of your content marketing ROI, look at cost, utilization, and performance. Pawan Deshpande, CEO and Founder of Curata, shares his formula for determining ROI.
For each piece of content x in Campaign C, take the $ amount of Revenue generated (a sales metric) by Content x and divide it by the ($ Production Cost for x + $ Distribution Cost for x) (a production metric). If the ratio is greater than 1, your content was profitable from a sales perspective. You can similarly compute this for a single piece of content, or all your content marketing.
Find more of Brenner's insights about ROI in the full article below.