Speak your boss’ language with metrics, statistics, and facts that articulate content marketing’s impact on customer acquisition and sales.
Garnering C-suite support for your content marketing program can be a challenge. Your team knows that your strategy is working by evaluating a series of metrics (e.g., shares, website traffic, email click-through rates), but executives do not always understand the value of such measures. It is almost like marketers speak another language.
So, how do you articulate the value of content marketing in a way that your executives will understand and support? Think of it this way: It is like that scene in the movie Jerry Maguire, only it is your boss demanding, “Show me the money!” The C-suite wants to know the cost to the company and the dollar amount of the return for any marketing initiative you undertake. Basically, you need to quantify success in terms of customer acquisitions and new sales.
Don’t focus on the secondary results, or “soft” metrics like per-post Facebook engagement. Talk the C-suite’s language, and demonstrate how your content marketing efforts led to new customers and what those customers are worth to the company’s growth and success.
Report these six metrics to win C-suite support
- Customer Acquisition Cost (CAC): This is the total average cost your company spends to acquire a new customer. Basically, what your company spends in marketing costs, divided by the number of new customers it produced.
- Marketing Percentage of the CAC: This is the marketing department costs divided the costs of the sales and marketing costs to get the marketing percentage of overall cost per new customer. The figure demonstrates if more is going into the sales team or the marketing team to produce the current result, and the lower the percentage the better.
- Ratio of Customer Lifetime Value to CAC: This figure estimates the total value that your company derives from each customer versus what you spend to acquire them.
- Time to Payback CAC: This estimate demonstrates how many months it takes for your company to earn back the CAC it spent acquiring your new customers.
- Marketing-Originated Customer Percentage: This is where you look at all of the new customers from a set time period and determine what percentage of them started with a lead generated by your marketing team.
- Marketing-Influenced Customer Percentage: This figure highlights all of the new customers that marketing interacted with at the time they were still just leads.
Additional selling points for content marketing
Content marketing can make a big impact on your company in terms of spreading brand awareness, growing your audience, and helping form business relationships. Though these benefits are difficult to quantify, try using the following statistics and facts to articulate the value your program could have in a way your executives will understand.
- As any business knows, it is essential to be where you customers are, and they are online. Your competitors know this, too. In fact, a recent study indicated that that 77% of companies surveyed, across industries, had plans to increase their digital marketing budgets in the coming year.
- The B2B buying process has evolved, and now content is an essential tool for generating and nurturing leads. Reportedly, 88% of B2B marketers use content marketing as part of their programs, with lead generation (85%) and sales (84%) being the most important goals.
- Blog content has long-term value, as what you post today may continue attracting traffic months (or years) from now. Your posts last indefinitely, outliving more traditional marketing methods, such as a print advertisement in a magazine.
- Consistently publishing quality content can earn your company a reputation as a thought leader in your industry. The public will come to trust your company as a respected source of knowledge, and you’ll begin forming relationships with readers who want to know more about your products and services. People buy from companies that they trust and feel connected to.
- Content marketing will get you more bang for your buck. Results are not instant, but, with time, you can actually reduce your marketing expenses while increasing your reach and growing your business.
- Content marketing is a valuable business intelligence tool. By distributing content through social media platforms, you not only engage potential customers, but you get their feedback and learn more about their needs and wants.
For more on marketing metrics that will articulate success to your boss, download Fronetics Strategic Advisors’ tip sheet.
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