Content marketing is a hot topic in the marketing world. And this conversation is happening for very good reasons.
The Statics Are Eye Opening
86% of highly effective organizations has someone steering the direction of their content marketing strategy (Hubspot)
On average people consume 285 pieces of content every day (Hubspot)
60% of B2C marketers are committed to content marketing (Point Visible)
64% of marketers want to learn how to build a better content strategy (Marketing charts)
Content creation is a top priority for 53% of marketers, according to the State of Inbound report (State of Inbound)
The insights appear all well and good yet for entrepreneurs and small business owners who are considering content marketing, the question still stands.
What will be my Return on Investment (ROI) on my content marketing initiative?
This is a legitimate question because money is limited and has competing demands.
For small business owners, cash invested in content marketing could be channeled into other aspects of the business.
I’ve had casual conversations with small business owners about implementing content marketing strategies due to its potential strong return on investment and its impact on the revenue bottom line but it appears they’ll rather go for traditional advertising instead.
Business owners categorize content marketing, inbound marketing and social media marketing as the same thing.
Most business owners actually believe social media marketing has more of an impact than content marketing. Their reason being social media is more visible hence there are chances of going viral and metrics such as likes, comments and views can be tracked to review performance.
The returns on investment for content marketing is enormous when content marketing is executed right.
It’s a matter of carefully tracking how much we spend on Content Marketing initiatives and the ROI it returns in sales. I use this worksheet I created for my consulting clients to track content marketing initiatives and its ROI
E.g of the worksheet in use for a hypothetical business owner who makes screens for printing t-shirts at home.
From the worksheet above, a $100.00 investment in creating content led to a conversion of 50 people and sales of $2,000.00 when the content was promoted via ads, the business made an additional $9,000.00 offsetting the price of the content and the ads and making an extra $6,800.00 in return
Do you follow Neil Patel? He’s the founder of Crazy Egg, kissmetrics and Neil Patel Digital
His blog ranks for almost everything online marketing, SEO, email marketing and content marketing related.
Hell!!! His blog even ranks for Joseph Sugarman when I decided to research and write my lessons from Joseph Sugarman’s book that “Adweek Copywriting Handbook”.
Neil is an example of a blogger who has witnessed exponential ROI on content marketing.
His blog has detailed, well-written articles on these niche topics and due to the crazy traffic he gets on his blog other well-know writers are willing to write for his site which further improves his search engine ranking.
By understanding the power of writing helpful, educational and insightful content for his readers, Neil has built successful businesses.
That will also be the case for ROI on content marketing for your small business if you take it seriously.
Content Marketing has a wider reach and appeal
Content Marketing initiatives that helps prospects has a higher reach and a greater tendency to go viral. People enjoy sharing content that is quality, educational and helpful. The more content is shared, the higher the exposure it gets.
Relying on search engines for any topic has become a daily ritual for prospects. The higher our ranks and impressions for our keywords, the better we’re at getting our brand in front of people.
Marcus Sheridan of River Pools and Spa is the poster boy for creating content that was helpful to his prospects and turned around his business. He achieved this by writing educative blog posts for prospects about swimming pools when his business hit a dry patch.
Due to the helpful content he created, he made a lot of sales for his business and his story has been well documented on Hubspot’s courses and Forbes.
Longer shelf life
Content Marketing initiatives such as newsletters, e-books, guides and educational video possesses a longer shelf-life than content that is created to be consumed in the moment.
An e-book with educational and helpful information can be promoted for many months across various digital channels due to its relevance.
The same cannot be said for a commercial. Once the prospect has seen it a couple of times, they get dismissive of it as compared to a “How-To” guide that can be referred several times which increases the Return on Investment for your small business
By understanding and effectively using content marketing tools and strategies, we as small business owners build expertise in our markets.
Credibility and trustworthiness are important factors in the buyer’s journey, especially in the Awareness and Consideration stage. Having content that is useful and can be referenced helps us to build authority and trust which eventually has a greater Return on Investment for our inputs.
Another advantage of a content marketing approach is the fact that we can repurpose our content into other forms of content initiatives for distribution.
Considering a content Marketing approach today? Go ahead and make it happen, let me know when it is ready so I can check it out.
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