Content marketing is one of the pillars of a digital marketing strategy, with a comprehensive content plan often enabling brands to stand out from all the other clutter that consumers today are exposed to. However, creating and implementing a content plan means nothing if you do not measure your ROI and ensure your plan evolves based on the data you see. With a range of tools like Hootsuite, Google Analytics, Adobe Analytics and others at your disposal, there’s simply no excuse for failing to monitor your content’s performance.
Measure your amplification
Digital marketing is all about ensuring that the maximum number of consumers are exposed to your brand when online. Therefore, if your content does not reach many people, the effort invested in creating it is a total waste. Social media makes it incredibly easy to monitor your amplification, through indicators such as likes, comments and shares built into every platform. Additionally, you can look at the impressions that a published post has garnered to get a better understanding of its reach.
When converting older posts into paid ones, don’t promote posts that garnered fewer likes, shares, and comments – those posts didn’t resonate with your audience and you need to evaluate why before creating similar posts in the future.
Measure your conversions
In digital marketing terms, conversions refer to the number of people that have had a look at your post and taken an action afterwards. These actions can include simple activities like clicking on a link, sharing a post, or visiting your website, as well as complex ones like buying a product. The point is to measure whether your content is having any effect on your audience, and if so, what kind of pieces are the ones that generate a response.
Measure the cost of creating the post
Once you have data regarding amplification and conversions, compare it against the cost of creating posts to understand your ROI. Most social media platforms have built-in ad calculators that allow marketers to see what a certain number of impressions cost. Let the cost-per-impression you see act as a benchmark while you evaluate the average impressions you garner organically per post. You can also compare the conversion rate (and generated sales) with the cost-per-impressions to see whether you’re getting your money’s worth.
For instance, let’s say that after you input the number of impressions you desire, you see that the total cost comes up to ₹ 3,000 for a single post. However, you find that your organic posts generate close to the same impressions, and you are paying your writer and designer half the amount. This means that you’re seeing a high return on your investment on your organic posts and should continue following the content plan you’ve set in place.
Measuring your content’s ROI not only tells you whether the effort you’re putting in is worth it, but also illuminates you about the content pieces that work with your audiences and the ones that don’t. Use these insights to craft future strategies and ensure your communication resonates with your audience.