Analyzing the right metrics is crucial to determining whether you are achieving content marketing ROI.
We all want to see the fruits of our labors. Whether launching a product or a new social media campaign, we look for instantaneous numbers that will affirm we made the right choices. But here’s the problem: Not all metrics are created equal. Content marketing ROI is harder to confirm than checking a few quick numbers.
A spike in homepage hits may be the result of your marketing efforts, or it may be because of ghost spam. (Or, both.) Regardless, more visits do not necessarily correlate to increased revenue — just more visits. Even so, 83% of B2B enterprise companies (over 1,000 employees) use web traffic as their main metric for measuring content marketing ROI.
The number of email subscribers is another common success metric. But, again, having 100,000 email subscribers means nothing if only 0.001% are opening them. You actually could be losing money in terms of resources allocated if the emails aren’t helping drive sales. That’s why it is crucial to focus on your company’s return on investment (ROI). You could waste hours reviewing a hundred different analytics that tell you nothing about how revenue was affected by a particular effort.
Know where to allocate resources
Lean-startup pioneer Eric Reis said, “The only metrics that entrepreneurs should invest energy in collecting are those that help them make decisions.” In other words, measure the things that will tell you if an effort was profitable so you know where to put your time and money.
ROI can help you determine whether it was worth spending your resources in a particular way. This is extremely useful on platforms like blogs and social media, where things are constantly changing. Using ROI as a litmus test, you can keep experimenting and making sure you’re using these tools effectively.
According to our Social Media Use Report, 81% of respondents wanted a tracking and measuring tool to prove their ROI. Your resources are limited, so it’s crucial to evaluate your efforts with meaningful numbers that illustrate their affect on your bottom line.
So what are they best metrics to use? Here are three of our favorite tools.
3 tools for measuring content marketing ROI
1) Built-in Social Media Analytics Tools
Most social media platforms have their very own built-in tools that give you detailed information about engagement with your content. Even better, most of these tools are free. Twitter Analytics, Facebook Insight, and YouTube Analytics are just a few examples of tools you can use to measure exposure and engagement with your followers. This priceless information will help you gain a better understanding of your followers and the content they are drawn to.
Hootsuite promotes smarter, data-driven social media marketing decisions backed by real-time analytics that allow you to spot trends as they develop and drill down for insights on how your social content is performing. It takes all your top social media platforms (Twitter, Facebook, YouTube, LinkedIn) and combines them into one application for full-scope results.
Measuring ROI through HubSpot is both accurate and convenient. HubSpot sends you weekly updates on your campaign performance and allows you to pull any reports of your own. Standard analysis includes: visits, leads, percentage changes, submissions, bounce rate, downloads, and much, much more. HubSpot Marketing Analytics can identify blog articles, landing pages, emails, and social media posts that perform well in terms of specific keywords.
Calculating ROI might take some time — both in the few extra minutes to do the math and the amount of time that needs to pass before all the data is available — but that number will be invaluable to you.
Let us help you get started. We’ve created a monthly marketing reporting template just for you. This template tracks your marketing metrics and generates graphs you can use in reporting and presentations. Click the button below to get the template (an Excel document) now.
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