by Fronetics | Mar 15, 2018 | Blog, Content Marketing, Logistics, Marketing, Strategy, Supply Chain
Here are four simple steps to help you measure your company’s content marketing ROI and the success of your strategy.
Lean-startup pioneer Eric Ries 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.
But most companies aren’t using the right metrics to track their content marketing ROI. For example, 83% of B2B enterprise companies (over 1,000 employees) use web traffic as their main metric for measuring content marketing ROI. A spike in homepage hits could be the result of your hard work, but it could also be ghost spam, or even both! So clearly, web traffic isn’t the most reliable metric.
Content marketing ROI is harder to quantify than checking a few quick numbers. But don’t give up hope. In the article How to Measure Content Marketing ROI: A Simple 4 Step Process, marketing consultant Bill Widmer breaks down a simple, four-step process that will quickly and effectively measure your content marketing ROI.
What is content marketing ROI?
Content marketing ROI is how much revenue you gain from content marketing in comparison with what you spend on creating and distributing content. It’s an actual percentage that shows how much revenue you gained vs. how much money you spent. And for a lot of businesses (and bosses), this percentage is very important. They want you to be able to prove that the marketing dollars that are going into your content marketing strategy are actually pulling in new business.
Every company has specific key performance indicators (KPIs) that help shape their marketing strategies. Here at Fronetics, we believe that your content marketing strategy should take these KPIs into consideration when thinking about your ROI:
- Website traffic
- Leads generated
- Conversion rate
- Direct sales
Obviously content marketing has more benefits than these four KPIs demonstrate — including better customer retention, brand awareness, and improved SEO — but to begin to measure your ROI, let’s focus on these four main points.
Measure content marketing ROI in 4 simple steps
1. Download your reverse goal path data.
Andy Crestodina, co-founder and CMO of Orbit Media, suggests:
- Go to your analytics dashboard. Set the date range for at least a year.
- Go to Conversions > Goals > Reverse Goal Path.
- Add a filter like “/blog” so only blog posts show up.
- Sort by Goal Completions.
After this step, you’ll be able see which of your posts have driven the most conversions. But you can’t stop there. These are simply conversion numbers. We want those numbers to become conversion rates, so let’s keep going.
2. Download your pageview data.
In order to calculate a conversion rate, you need to know pageviews. Here’s how to get that information:
- Go to Content > Site Content > All Pages.
- Filter with “/blog” to get only blog posts.
Download this data into the spreadsheet from step one.
3. Get your conversion rate.
Now here’s a little math for you. Divide the data in the “conversions” column by the number in the “unique pageviews” column. This will give you your conversion rate per blog post.
This will show you what your best-performing pieces of content are, and what posts need to be updated to gain more views and shares.
This information will give you valuable insight into the topics that your target audience are reading about and how you can better plan for high-ranking content in the future.
If you have posts or pages that are older — like over a year — and they haven’t gotten any views or conversions, it’s time to think about reworking them to have more appeal to your target audience.
For your actual percentage, you’ll need to calculate how many of these leads have converted to sales.
4. Calculate content marketing ROI based on lead conversions.
Here’s where things get a little more complicated, but still very manageable. You need to start putting tags on your leads according to the content they came from.
You can use programs like WordPress or Blogger to help you automatically tag any leads that came from a specific form. Assuming the form correlates to a single blog post, you will know that any leads with that tag came from that post.
You can also connect your leads with a CRM, such as HubSpot or SalesForce, and track which leads came from specific emails. These programs easily integrate with your analytics and email marketing platforms for up-to-date numbers and data.
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by Fronetics | May 31, 2017 | Blog, Content Marketing, Data/Analytics, Marketing, Social Media
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.
2) Hootsuite
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.
3) HubSpot
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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by Fronetics | Jul 5, 2016 | Blog, Data/Analytics, Marketing, Social Media, Strategy
Gauge the effectiveness of your social media strategy using these four data points in Google Analytics.
Measuring the impact social media has on business is important to those in the logistics and supply chain industries. In fact, a recent Fronetics survey found that 81% of respondents reported that information on proving social media ROI would be helpful to their companies.
You can waste a lot of time trying to track down information on your various social accounts, or you can find all the most pertinent information with one tool. The best part is that your company is probably already using it. (And it’s free!)
Google Analytics is an incredible tool for businesses large and small looking to gain insight into the who, when, and where of their web traffic. And while it may seem intimidating to the novice, it’s very easy to use once you know where to find what you’re looking for.
Step 1: Look at where your traffic is coming from.
Is it social media? Google Analytics will provide an overview of the overall traffic sources that deliver visitors to your website. Included in this report will be traffic from social media. This high-level view of your traffic that includes:
- Search (people clicking through from Google or Bing)
- Social (Twitter, Facebook, etc.)
- Direct (people typing your site in their browser or bookmarks)
- Referral (people clicking links from other sites to get to you)
- Email
- Paid search
- Other
To access this report in Google Analytics, go to Acquisition > All Traffic > Channels.
Go a step further and review the volume of traffic that comes from specific social media networks, by clicking on Acquisition > Social > Network Referrals.
It’s important to have a diverse mix of traffic sources, which should be reflected in the traffic sources report. If you find that a large portion of your traffic comes exclusively from one source, especially if that source is not social media, it is time to reconsider your social media strategy. Similarly, if you are finding that one network is driving most of your traffic, you should look into when and what you are posting in the non-performing channels.
Step 2: Determine revenue derived from posts.
Make sure to include links back to your site when you post on social media so that Google Analytics can track and analyze them. You’ll want to add a UTM code (aka UTM parameter), which is text added to the end of a URL (after the ?) to identify the success of a campaign. As an example, the UTM code is boldface below:
“https://www.fronetics.com/microsoft-linkedin-product-synergies-floor-b2b-marketers/?utm_content=36244275&utm_medium=social&utm_source=facebook”
You can set unique UTMs for all of your social media, per channel, or even per update. By analyzing your different UTM parameters, you can determine which URLs are most effective in driving users to your content.
Set UTM parameters through Google’s URL Builder. once your parameters are set, you can go to Acquisition > Campaigns > All Campaigns to see the revenue from any individual UTM tag, like a post or tweet.
Step 3: Look at how your content is being digested.
Analytics allows you to see how long a visitor stayed on your site, (use the Duration goal to find out). Examine how content resonates with the social media audience by using Set up the Pages/Screens per Session goal, or learn how many times visitors from social media play website video with Create an Event goal for specific tracking.
Step 4: What is social media bringing you in conversions?
Google Analytics has conversion funnel reports that show how much social media is contributing to conversions. To set up conversion funnels in Google Analytics:
- Use the Goals section and connect any type of conversion event.
- Access your funnel report through Conversions > Multi-Channel Funnels > Top Conversion Paths.
These four insights from Google Analytics can help you determine how effective your social media strategy is in terms of traffic, direct revenue, visitor behavior, and conversions. Use this information to continually refine your strategy and get the most out of your social media presence/
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by Fronetics | May 4, 2016 | Blog, Content Marketing, Marketing, Strategy
Having a documented content marketing strategy increases effectiveness and provides a baseline for measuring ROI.
Content marketing is one of the most effective ways to increase brand awareness, broaden your customer base, and grow your business. Yet of the 88% of B2B marketers using content marketing, only 30% feel their efforts are successful. Why do so many organizations feel they are failing? Simply put, they do not have a documented content marketing strategy in place.
You would never operate your business without 1) creating a strategy, 2) documenting it, and 3) following the strategy. Nor should you launch a marketing program without having a clear idea of what you want to accomplish and how you plan to do that.
A content marketing strategy outlines the methods by which you will target, reach, and engage your audience. Research and execution of these tasks can be quite complex. Writing out a plan and assigning appropriate resources can offer clarity and guidance to your organization throughout the course of your program.
Also, remember that content marketing is more of a marathon than a sprint, and achieving results often takes months, even years. Documenting your strategy allows your team to keep focused on your goals and your plan for achieving them in the interim.
Here’s why you should take the time to draw up a plan and then write it down.
A documented content marketing strategy is more successful than an undocumented strategy or no strategy at all.
Research conducted by the Content Marketing Institute reveals that businesses that document their content marketing strategy find their efforts significantly more effective than those who don’t. Among B2B marketers surveyed:
- 60% of those with a documented strategy rate themselves highly, in terms of content marketing effectiveness.
- Only 32% of those with a verbal strategy rate themselves highly.
- Of those who rate their organization’s content marketing programs as not at all effective, a mere 13% have a documented strategy.
Further, organizations who meet regularly to check in on their content marketing strategy are much more likely to find it successful — 61% of the most effective marketers surveyed meet daily or weekly to review their progress.
A documented content marketing strategy helps measure ROI.
Many B2B businesses struggle with content marketing or have trouble garnering C-suite support for the program because return on investment is notoriously difficult to measure. In fact, more than half of marketers say one of their top challenges is measuring content effectiveness (57%) and/or measuring the ROI of their content marketing program (52%).
Having a documented strategy in place gives your organization measurable goals against which to compare your results. Your strategy should:
- Document what you hope to achieve through content marketing — more leads, higher conversion rates, more newsletter sign-ups, etc.
- Outline a specific methodology for executing those goals
- Assign human resources to each of the tasks
- Designate intervals at which to check in and evaluate/adjust your efforts
- Offer a time frame for completion
Documenting your strategy in such a way clarifies where you are investing time and resources so that calculating ROI is less of an abstract process.
Content Marketing Institute’s research confirms that content marketing success increases when there is organizational clarity about what success looks like, and that organizations with a documented content marketing strategy feel they are successful at tracking ROI. While only 21% of marketers feel they are successful at tracking ROI, that number rises to 35% when there is a documented strategy in place.
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by Fronetics | Mar 7, 2016 | Blog, Content Marketing, Marketing, Social Media
Your content stinks. Here’s why.
Twenty-seven million pieces of content are shared every day — and most of it is crap. To attract readers to your content, you must stand out, and I mean really stand out, among the masses. That’s no easy feat.
You may be spending an enormous amount of time and money as part of a content marketing effort, but, if no one is reading what you’re producing, you’re definitely not achieving your ROI. Consider the following points, and ask yourself if any could be negatively impacting your readership.
Here are the top 10 reasons no one is reading your content.
10. You don’t have a strategy.
Only 11% of companies without a documented content marketing strategy find their efforts to be successful, compared to 60% of companies with a strategy in place. And that number rises to 86% when the company designates someone to lead the strategy. Having a clear vision for your content and a plan for executing that vision is crucial to earning an audience.
9. Your content isn’t search-engine optimized.
Seventy-seven percent of today’s buyers use Google to research information about products. Search engine optimization (SEO) means writing copy for your digital assets so they will be prioritized by Google in web queries related to your business or products. Three of four people will click on the top five search results. So the further you move from those top five results, the less likely someone is to find, much less read, your content. If your content isn’t SEO-friendly, readers may not even have the chance to see what you’re writing because it is so far down in their search results.
8. You are using the wrong channels.
If a tree falls in the woods and nobody is around to hear it, did the tree fall after all? Stop publishing in the empty woods. Who is the target audience for your content, and where are they active? Evaluate your audience (or lack thereof) in each of the channels where you publish, and see if something is amiss. This will vary greatly by business. You can access personalized information on your followers’ social media habits through analytic programs like Google Analytics and sites like Tweriod.
Also to consider: on lightning-fast platforms like Twitter, a miscalculation of timing could be to blame. (See The Best Time to Post on Social Media.)
7. You’re not publishing often enough.
Inconsistent content is one of the primary reasons readers become disengaged with a particular publisher. Even publishing one more blog post a week can significantly boost your readership. Try a little experiment for a few months by playing with the number of times per week you publish — say, three times per week one month, four times the next, and five the next. You’ll find the sweet spot where you get the most engagement but can also handle the production schedule.
The next reasons have to do with the substance of the content itself.
6. You’re publishing a sales pitch instead of content.
Imagine you’re looking to buy a car. Researching different options online, Site A, run by Dealership A, offers expert opinions about various makes and models, while Site B talks about how Dealership B offers top-notch customer service and a no-nonsense negotiation policy. You’d probably never come across Site B in the first place because the content is irrelevant (and trite… and annoying), whereas Site A has exactly what you’re looking for.
Content marketing is your opportunity to provide valuable, expert information to people who are seeking it out. Associating your brand with that sort of expertise attracts customers — not to mention, helps them find you via organic search in the first place. No one wants to read your sales pitch over and over again, and they won’t.
5. You are not telling the truth.
I am talking about two different definitions of truth here.
For one, are you being honest? Today’s consumers can smell b.s. from a mile away, largely because the Internet forgets nothing and forgives nothing. The prevalence of user-review sites and platforms like social media means customers will always have an outlet to share their experiences, both good and bad. If your business does not provide what you promise, people will be upset and take to these forums to complain about it. Trust and transparency are two key assets in earning (and keeping) readership.
Secondly, are you being true to who you are as a business? A recent Harvard Business Review article defines successful marketers as mission-focused, not consumer-focused. Don’t produce content based on what you think your customers want to hear. The beauty of content marketing is that when you put your business mission out into the universe through content, people who are seeking that information find you. In other words, build it, and they will come.
4. You’re not offering anything of value.
DigitalTonto says, “The first step towards engagement is creating value beyond the basic transaction of payment for a product or service.” This is the essence of content marketing: a related offer of value in the form of expertise, entertainment, etc. For example, L’Oreal Paris provides free makeup tutorials on its YouTube channel, Destination Beauty, and, Apple offers free classes, product demonstrations, and tech support from the Genius Bar for product users.
The question to ask is, what is your value to your customers? Can you offer expert advice on a particular topic through a blog? Is there something about your products or your people that would make for entertaining or informative videos? Do you have access to top-of-their-field specialists that could lead a webinar series? Find whatever it is that is unique to your company, and leverage that in your content marketing to attract readers.
Because there is so much content out there, today’s consumers can afford to be partial to publishers who provide information in a way that is pleasing to them. They also have shorter attention spans than goldfish. That means things like format, length, accessibility, and voice can majorly impact whether people read your content or not. Also, be mindful that different platforms should offer different experiences based on reader expectations (e.g., Instagram isn’t the place for lots of text).
2. You’re not heeding performance analytics.
The one certain constant in marketing is that things will always change. What works for you one year will certainly be irrelevant the next. Content marketing won’t allow you to rest on your laurels, either. You should stay on top of your analytics to monitor what kind of content is successful in the present moment, and you should tweak how you’re doing things as people, technology, and events change. Keep testing new ideas to see how they are received, and get rid of old standbys that no longer pull their weight.
1. Your content is bad.
While this seems obvious, it’s worth repeating. If the quality of your content is bad, no one will read it, regardless of what value it offers. The same goes for if you find yourself saying, “it works,” or “it’s fine!” If there are 27 million options, who would choose “fine?”
Do an honest evaluation of your content, or have a neutral outside party do so for you. Is it original, substantial, and well-written? Make sure that your content is edited, and that it is free from grammatical errors, spelling mistakes, and awkward phrasing. And remember that you get what you pay for. Professional writers can be expensive, but there’s a reason for that — theirs is a specialized craft, and very few people can do it well. If you want people to read your content, you should make sure that it’s worth reading.
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