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How to calculate evaluate and prove content marketing roi to your boss

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44% of marketing managers struggle to measure content ROI
This inability to measure the ROI of content marketing motovated me to write the leading content marketing ROI guide for Smart Insights http://bit.ly/content--roi-guide, which gives in-depth guidance on how to calculate the cost of content marketing and measure the return on investment.
In these slides I outline the simple yet effective costing model, and show you how, by breaking out the component costs of content into labour, production and distribution, you can work out your content marketing cost, which provides the basis for evaluating your content marketing ROI. I also demonstrate the lag between content marketing creation and the pay back and how you need to keep focused on great content creation and distribution, until your content marketing ROI is positive.
This presentation comes from the Content Marketing Essentials webinar series I produced for Idio, the content intelligence platform, built to help marketers think and act more strategically with their content marketing.

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How to calculate evaluate and prove content marketing roi to your boss

  1. 1. How To Measure & Evaluate Content Marketing ROI & Prove It To Your Boss Measure & Evaluate Content Marketing ROI, And Prove It To Your Boss Join the conversation: #ProveContentROI @idioplatform @concentricdots
  2. 2. Today’s Speaker Stephen Bateman DipM CIM Concentric Dots Andrew Davies Co-Founder idio Ltd Today’s Host
  3. 3. $ # content items Cost As you do content marketing more, you get better! Measure & Evaluate Content Marketing ROI, And Prove It To Your Boss Join the conversation: #ProveContentROI @idioplatform @concentricdots Content Costs
  4. 4. $ # content items Cost Measure & Evaluate Content Marketing ROI, And Prove It To Your Boss Join the conversation: #ProveContentROI @idioplatform @concentricdots But Benefits Lag… Gain
  5. 5. Cost Gain Time Measure & Evaluate Content Marketing ROI, And Prove It To Your Boss Join the conversation: #ProveContentROI @idioplatform @concentricdots Improve, Don’t Just Prove Your ROI $
  6. 6. Solution To Date: Produce More Content Measure & Evaluate Content Marketing ROI, And Prove It To Your Boss Join the conversation: #ProveContentROI @idioplatform @concentricdots
  7. 7. Problem Compounded Measure & Evaluate Content Marketing ROI, And Prove It To Your Boss Join the conversation: #ProveContentROI @idioplatform @concentricdots
  8. 8. Agenda The RACE Tracking Framework Costs & Building A Budget Measurement In Action Presenting To Management Solving the Problems Q&A Measure & Evaluate Content Marketing ROI, And Prove It To Your Boss Join the conversation: #ProveContentROI @idioplatform @concentricdots
  9. 9. 5% (1) Very Successful 16% 33% 21% 10% 15% (5) Not At All Successful We Do Not Track The Wider Market How B2B Marketers Rate Their Organization’s Success At Tracking ROI (2015 B2B Content Marketing Trends – North America: Content Marketing Institute / Marketing Profs) (2) (3) (4) Measure & Evaluate Content Marketing ROI, And Prove It To Your Boss Join the conversation: #ProveContentROI @idioplatform @concentricdots
  10. 10. 70% now carry a revenue quota Leaders Showing The Way In a 2015 survey of B2B marketers by Demand Gen Report… 70% Measure & Evaluate Content Marketing ROI, And Prove It To Your Boss Join the conversation: #ProveContentROI @idioplatform @concentricdots
  11. 11. 0% 5% 10% 15% 20% 25% . % of unique visitors consuming content item Top 50 content items across idio customers On average, 5 pieces of content account for 50% of unique visitors Content Production Efficiency Measure & Evaluate Content Marketing ROI, And Prove It To Your Boss Join the conversation: #ProveContentROI @idioplatform @concentricdots
  12. 12. 0% 5% 10% 15% 20% 25% . % of unique visitors consuming content item Top 50 content items across idio customers On average, 5 pieces of content account for 50% of unique visitors The bottom 25 pieces of content (half) account for a mere 16% of unique visitors, but each piece still costs the same to produce. Measure & Evaluate Content Marketing ROI, And Prove It To Your Boss Join the conversation: #ProveContentROI @idioplatform @concentricdots Content Production Efficiency
  13. 13. Remedy? Start Measuring!! 21 3 Speak the language of management Think about measurement up-front (during content creation) Alight on the metrics that matter Measure & Evaluate Content Marketing ROI, And Prove It To Your Boss Join the conversation: #ProveContentROI @idioplatform @concentricdots
  14. 14. “Marketing must shift from art, to art & science” EIU Survey Measure & Evaluate Content Marketing ROI, And Prove It To Your Boss Join the conversation: #ProveContentROI @idioplatform @concentricdots
  15. 15. Mindset How will it make our audience feel? Will it stand out? Does it tell a story? Is it truly innovative? What is our strategy? Will it generate leads & revenue? Has this worked in the past? Are we aligned with sales? Get The Mindset (Source: Curata) Measure & Evaluate Content Marketing ROI, And Prove It To Your Boss Join the conversation: #ProveContentROI @idioplatform @concentricdots
  16. 16. “Measurement unlocks ROI; ROI unlocks budget” Joe Chernov - Hubspot Measure & Evaluate Content Marketing ROI, And Prove It To Your Boss Join the conversation: #ProveContentROI @idioplatform @concentricdots
  17. 17. Build Awareness Through REACH Influence Consideration Through ACTION Drive Leads & Sales Through CONVERSION Grow Loyalty Through ENGAGE Key Objectives Your Marketing Supports Four Outcomes R A C E Measure & Evaluate Content Marketing ROI, And Prove It To Your Boss Join the conversation: #ProveContentROI @idioplatform @concentricdots
  18. 18. The RACE Measurement Framework REACH Build awareness on other sites and in offline media and drive to your web presences KPIs: ü  Unique viewers ü  Audience shares ü  Brand buzz ü  Share of search ACT Encourage audiences to interact with brand on your website or other online presence KPIs: ü  Click-through rates CTR ü  Bounce rate ü  Session stickiness ü  Social profile growth ü  Key engagement actions ü  Share of traffic CONVERT Achieve conversion to marketing goals such as leads on web presences and offline KPIs: ü  Revenue ü  KPI ü  Sign ups and registrations ü  Feeds and social media subscriptions ü  Trials ü  “Ripples” ENGAGE Build customer and fan relationships to achieve retention goals KPIs: ü  Upsell/Cross-sell ü  Advocacy/Referral ü  Return visitors ü  Frequency / recency reports ü  Sentiment Define The Smart RACE KPIs that Review The Effectiveness And Efficiency of Your Digital Marketing (Source: Smart Insights) Measure & Evaluate Content Marketing ROI, And Prove It To Your Boss Join the conversation: #ProveContentROI @idioplatform @concentricdots
  19. 19. Relevant, actionable insight holds the key to improving these KPIs. Which topics, content items, channels, campaigns, segments, & formats are most likely to drive people to Reach, Act, Convert &Engage? Measure & Evaluate Content Marketing ROI, And Prove It To Your Boss Join the conversation: #ProveContentROI @idioplatform @concentricdots
  20. 20. Cost Metrics It’s time to raise the performance measurement bar! Measure & Evaluate Content Marketing ROI, And Prove It To Your Boss Join the conversation: #ProveContentROI @idioplatform @concentricdots
  21. 21. How much (and what type of) content do you need? (And an example) (Source: Smart Insights) Personas (2) x Buying stages (4) x Questions per stage (5) = 40 pieces of content Heavyweight content Largely secondary fuel ü  Infographic ü  White Paper ü  Research Study ü  eBook ü  Professional Video ü  Mobile App ü  Event Lightweight content Largely primary fuel ü  Blog post ü  Simple article ü  Checklist ü  Article / Interview ü  Press Release ü  Podcast ü  Handheld video ü  Case Study ü  Basic Slideshare ü  Webcast Measure & Evaluate Content Marketing ROI, And Prove It To Your Boss Join the conversation: #ProveContentROI @idioplatform @concentricdots
  22. 22. Time Tracking Measure & Evaluate Content Marketing ROI, And Prove It To Your Boss Join the conversation: #ProveContentROI @idioplatform @concentricdots
  23. 23. Write down what the business wants to achieve in the next 6-12 months What is your budget? Generate £1 million in new sales by 30-Dec-15 £5,000 average customer value 200 new customers 10% conversion rate (1 in 10) Write down what marketing needs to do in next 3-6 months to help the business achieve its goals Generate 2000 new leads Budget: £500 per new customer Cost per lead: £50 per lead Measure & Evaluate Content Marketing ROI, And Prove It To Your Boss Join the conversation: #ProveContentROI @idioplatform @concentricdots
  24. 24. POLL: How do you set CM budget? -  Based on sales targets that need to be achieved -  Based on an uplift from last year -  We don’t have a defined budget -  % of marketing cost Measure & Evaluate Content Marketing ROI, And Prove It To Your Boss Join the conversation: #ProveContentROI @idioplatform @concentricdots
  25. 25. ROI (Source: http://bit.ly/content--roi-guide) ROI = (Gain from investment – Cost of investment) Cost of investment Measure & Evaluate Content Marketing ROI, And Prove It To Your Boss Join the conversation: #ProveContentROI @idioplatform @concentricdots
  26. 26. ROI: In the Wild Measure & Evaluate Content Marketing ROI, And Prove It To Your Boss Join the conversation: #ProveContentROI @idioplatform @concentricdots
  27. 27. Cost of Campaign! Share of Salaries! £2500! Designer! £700! Share of Tech! £650! Paid Promotion! £1100! TOTAL! £4950! A Recent eBook Campaign Measure & Evaluate Content Marketing ROI, And Prove It To Your Boss Join the conversation: #ProveContentROI @idioplatform @concentricdots
  28. 28. Cost of Campaign! Share of Salaries! £2500! Designer! £700! Share of Tech! £650! Paid Promotion! £1100! TOTAL! £4950! A Recent eBook Campaign Revenue/Gain! Number of Leads! 650! CPL! £31! MQLs! 136! MQL Value! £75! TOTAL! £10200! Measure & Evaluate Content Marketing ROI, And Prove It To Your Boss Join the conversation: #ProveContentROI @idioplatform @concentricdots
  29. 29. Cost of Campaign! Share of Salaries! £2500! Designer! £700! Share of Tech! £650! Paid Promotion! £1100! TOTAL! £4950! A Recent eBook Campaign Revenue/Gain! Number of Leads! 650! CPL! £31! MQLs! 136! MQL Value! £75! TOTAL! £10200! ROI Calculation! ROI = (Gain-Cost)/Cost! ROI = (10200-4950)/4950! ROI! 106%! Measure & Evaluate Content Marketing ROI, And Prove It To Your Boss Join the conversation: #ProveContentROI @idioplatform @concentricdots
  30. 30. Cost of Campaign! Share of Salaries! £2500! Designer! £700! Share of Tech! £650! Paid Promotion! £1100! TOTAL! £4950! A Recent eBook Campaign Revenue/Gain! Number of Leads! 650! CPL! £31! MQLs! 136! MQL Value! £75! TOTAL! £10200! ROI Calculation! ROI = (Gain-Cost)/Cost! ROI = (10200-4950)/4950! ROI! 106%! For every £1 invested, we got £2.06 of value back. Measure & Evaluate Content Marketing ROI, And Prove It To Your Boss Join the conversation: #ProveContentROI @idioplatform @concentricdots
  31. 31. Three Levels of Reporting (Source: Ryan Skinner, Analyst @ Forrester) Measure & Evaluate Content Marketing ROI, And Prove It To Your Boss Join the conversation: #ProveContentROI @idioplatform @concentricdots
  32. 32. Report Frequency Content Data Example Three Levels of Marketing Reporting Bi-weekly, bi- monthly, quarterly Punctually, weekly, bi- weekly, monthly Quarterly, annually Visits, views, clicks, shares, RTs, fans, followers, immediate conversion events Increased lead generation from white paper downloaded by 20% over previous week Added 1500 names to newsletter list Awareness, overall traffic volume, conversions, sales cycle velocity, SEO impact of keywords on SERPs (organic) WOM, social media penetration, inbound links and syndications achieved by content, high profile placements, conversion events, new customer acquisitions, up/cross-sells Revenue, reputation, PR impact & reach, thought leadership, growth in branded keyword volumes from organic search, invitations to speak at conference, invitations to comment / guest blog, new connections with key influencers, new partnerships 15% growth in sales of basic software package Talking head on The Bottom Line (BBC radio) Tactical Level (Fast Cycle) Strategic Level (Mid Cycle) Corporate Level (Long Term) Measure & Evaluate Content Marketing ROI, And Prove It To Your Boss Join the conversation: #ProveContentROI @idioplatform @concentricdots
  33. 33. The ROI Pyramid (Source: Altimeter) Measure & Evaluate Content Marketing ROI, And Prove It To Your Boss Join the conversation: #ProveContentROI @idioplatform @concentricdots
  34. 34. The “action” Reporting Dashboard (Source: Avinash Kaushik) Measure & Evaluate Content Marketing ROI, And Prove It To Your Boss Join the conversation: #ProveContentROI @idioplatform @concentricdots
  35. 35. Live Dashboards Measure & Evaluate Content Marketing ROI, And Prove It To Your Boss Join the conversation: #ProveContentROI @idioplatform @concentricdots
  36. 36. IBM “Cultures don’t transform overnight. Executives were pragmatic. We kept measuring, kept showing improvement. Some people might be convinced after a month, some after a year. We kept telling the story in a consistent framework.” Measure & Evaluate Content Marketing ROI, And Prove It To Your Boss Join the conversation: #ProveContentROI @idioplatform @concentricdots
  37. 37. Anyone can prove ROI on a campaign. Sustainable ROI is all about Scale & Time. Measure & Evaluate Content Marketing ROI, And Prove It To Your Boss Join the conversation: #ProveContentROI @idioplatform @concentricdots
  38. 38. $ # content items Cost As you do content marketing more, you get better! Measure & Evaluate Content Marketing ROI, And Prove It To Your Boss Join the conversation: #ProveContentROI @idioplatform @concentricdots Content Costs
  39. 39. $ # content items Cost But the benefit lags… Measure & Evaluate Content Marketing ROI, And Prove It To Your Boss Join the conversation: #ProveContentROI @idioplatform @concentricdots But Benefits Lag… Gain
  40. 40. Cost Gain Time Measure & Evaluate Content Marketing ROI, And Prove It To Your Boss Join the conversation: #ProveContentROI @idioplatform @concentricdots $ Improve, don’t just prove your ROI
  41. 41. Cost Gain Time Measure & Evaluate Content Marketing ROI, And Prove It To Your Boss Join the conversation: #ProveContentROI @idioplatform @concentricdots B > A, hopefully! $ B A
  42. 42. Fixing the ROI problem is not about proving ROI. It’s about improving ROI. Measure & Evaluate Content Marketing ROI, And Prove It To Your Boss Join the conversation: #ProveContentROI @idioplatform @concentricdots
  43. 43. Can I identify which content is wasted and why? 1 2 3 Will my content plan resonate with my audience? Do my salespeople access the right content at the right time? How to Improve Costs The key questions that successful marketers ask, and answer. Measure & Evaluate Content Marketing ROI, And Prove It To Your Boss Join the conversation: #ProveContentROI @idioplatform @concentricdots
  44. 44. 1 Can I identify which content is wasted and why? Measure & Evaluate Content Marketing ROI, And Prove It To Your Boss Join the conversation: #ProveContentROI @idioplatform @concentricdots
  45. 45. 2 Will my content plan resonate with my audience? Measure & Evaluate Content Marketing ROI, And Prove It To Your Boss Join the conversation: #ProveContentROI @idioplatform @concentricdots
  46. 46. 3 Do my salespeople access the right content at the right time? Measure & Evaluate Content Marketing ROI, And Prove It To Your Boss Join the conversation: #ProveContentROI @idioplatform @concentricdots
  47. 47. Is my funnel leaky or productive? 1 2 3 Is my content leading to conversion? Am I helping salespeople to close deals? How to Improve Gains The key questions that successful marketers ask, and answer. Measure & Evaluate Content Marketing ROI, And Prove It To Your Boss Join the conversation: #ProveContentROI @idioplatform @concentricdots
  48. 48. 1 Is my funnel leaky or productive? Measure & Evaluate Content Marketing ROI, And Prove It To Your Boss Join the conversation: #ProveContentROI @idioplatform @concentricdots
  49. 49. 1 Is my funnel leaky or productive? Measure & Evaluate Content Marketing ROI, And Prove It To Your Boss Join the conversation: #ProveContentROI @idioplatform @concentricdots
  50. 50. 2 Is my content leading to conversion? Measure & Evaluate Content Marketing ROI, And Prove It To Your Boss Join the conversation: #ProveContentROI @idioplatform @concentricdots
  51. 51. 3 Am I helping salespeople to close deals? Measure & Evaluate Content Marketing ROI, And Prove It To Your Boss Join the conversation: #ProveContentROI @idioplatform @concentricdots
  52. 52. Measure & Evaluate Content Marketing ROI, And Prove It To Your Boss Join the conversation: #ProveContentROI @idioplatform @concentricdots Conclusion: ü  Calculating ROI is only the start. ü  Focus on improving, not just proving, ROI. ü  It’s about progress, not perfection. Start the journey now!
  53. 53. Thank you for your time. Questions? Stephen Bateman Concentric Dots stephen@concentricdots.co.uk @concentricdots Andrew Davies idioplatform.com andrew.davies@idioplatform.com @idioplatfrom
  54. 54. Measure & Evaluate Content Marketing ROI, And Prove It To Your Boss Join the conversation: #ProveContentROI @idioplatform @concentricdots Coming Soon! Webinar: The B2B CMO's New Role In Sales Enablement: From Priming The Pipeline To Engaging Buyers Laura Ramos, Vice President, Principal Analyst Tuesday 7th April 4pm GMT / 11am EST Thank You! Start the Journey Now!

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