demystifying content marketing metrics
DESCRIPTION
Measuring content marketing seems to elude most marketers. We know, its tough! But, here at Compendium we've helped hundreds of companies create strategies and processes to measure their content marketing programs and we'd love to share that knowledge with you. Lee Jorgenson, Senior Account Manager at Compendium, walked through the four steps process to measuring your content effectively. They are: -Create Goals Upper Management will Appreciate -Implement and Integrate Tracking Systems -Identify Valuable Actions for Visitors -Examples of: Consumption Goals, Sharing Goals, Lead Generation Goals, Sales Goals and Retention GoalsTRANSCRIPT
How Can I Measure Content Marketing?
Most companies measure pieces of their content, but aren’t measuring the full impact.Many companies are also setting the wrong goals and monitoring the wrong metrics based on their objectives.
How can I establish a measurement system that works?1. Create Goals Your Upper
Management will Appreciate2. Map Out Your Sales &
Marketing Funnel and Write Content for Each Stage
3. Implement and Integrate Tracking Systems
4. Identify Valuable Actions for all Visitor Segments and Goals
DEMISTIFYING CONTENT MARKETING METRICS 3
Create goals yourupper managementwill appreciate
• Your goals need to be specific and actionable – not objectives.
• Vague goals (objectives) lead to frustration and dissatisfaction with performance:*Example: “I want to Humanize my brand”= Good Objective, Bad Goal
“Good news! We humanized our brand from 15 to 18!” #FAIL
OBJECTIVES vs. METRICS vs. GOALSAn objective is a broad statement or ambition that you aim to accomplish.•Example: “We want to better position ourselves as thought-leaders amongst our current clients.”
DEMISTIFYING CONTENT MARKETING METRICS 5
A metric is a specific, quantifiable action or outcome.•Example: Downloads, page views, and views are consumption metrics.
OBJECTIVES vs. METRICS vs. GOALS
DEMISTIFYING CONTENT MARKETING METRICS 6
Adapted from Jay Baer’s guidelines for content marketing metrics.
4 Buckets of Metrics1. CONSUMPTION METRICS
Downloads, views, page views, etc.
2. SHARING METRICSLikes, Tweets, LinkedIn Shares, etc.
3. LEAD GENERATION METRICSEmails, names, etc. collected, lead score, etc.
4. SALES METRICSInitial and projected lifetime revenue, sales cycle length and stage advancement
DEMISTIFYING CONTENT MARKETING METRICS 7
A goal is produced by combining an objective with metrics. They are specific and actionable and can be easily measured for success/failure.•Example “Our goal is to increase the number of CMOs subscribed to our monthly newsletter by 100 in the next 60 days.”
OBJECTIVES vs. METRICS vs. GOALS
DEMISTIFYING CONTENT MARKETING METRICS 8
Objectives are quantified by metrics and used to create goals.
OBJECTIVE METRICS GOAL
+ =
DEMISTIFYING CONTENT MARKETING METRICS 9
This is theBig Picture
DEMISTIFYING CONTENT MARKETING METRICS 10
4 Groups of GoalsBranding/Awareness GoalsMarketing Conversion GoalsSales Velocity and Conversion GoalsRetention Goals
DEMISTIFYING CONTENT MARKETING METRICS 11
Branding/Awareness Goals
Easiest, Fluffiest, and most basic form of content measurement•Increase the number of non-branded organic search visits from X to Y•Increase twitter followers by X% in the next 100 days
DEMISTIFYING CONTENT MARKETING METRICS 12
Marketing Conversion Goals
Measuring the amount of new leads into your lead/prospect database and movement to the point of sales ready•Drive X number of new leads from our upcoming webinar•Increase Inbound leads by X% next quarter
DEMISTIFYING CONTENT MARKETING METRICS 13
Sales Velocity & Conversion Goals
Measuring how content can impact the overall sales win rate and/or velocity of sales opps•Reduce the number of manual touchpoints by a sales rep from X to Y•Decrease the number of days for an opportunity to go from created to closed won from X to Y
DEMISTIFYING CONTENT MARKETING METRICS 14
Retention Goals
Measuring the effect of content post sale can help understand its impact on renewals/repeat customers•Increase our renewal percentage by X%•Grow the number of customers who have repeat purchases by X%
DEMISTIFYING CONTENT MARKETING METRICS 15
Adding Start & End DatesAlways important (if possible) to add start and end dates to your goalsHelps to remove vagueness and clearly define a success or failure
DEMISTIFYING CONTENT MARKETING METRICS 16
Example: Jorgenson Corp.Branding/Awareness – Increase the number of social shares we have this quarter by 15% compared to last quarter.
Mktg Conversion– Increase the number of inbound leads by 10% next quarter from leads generated through webinars and a new ebook
Sales Velocity/Conversion – Reduce sales time for closed new business next quarter by one week due to sales nurturing programs.
Retention - Generate 5 Upsells to our customer base in the next quarter from our client newsletter.
DEMISTIFYING CONTENT MARKETING METRICS 17
Map Out Your Sales
& Marketing Funnel and Write Content for Each StageChance of success reduces significantly if you don’t have content for each stage of the buying process.Similar to a content mapping exercise with personas.
DEMISTIFYING CONTENT MARKETING METRICS 18
Fundamental Funnel Blocks
Una
war
e
Customer
Inte
rest
edAware
DEMISTIFYING CONTENT MARKETING METRICS 19
UnawareProspects you have not had a chance to identify
Fundamental Funnel Blocks
DEMISTIFYING CONTENT MARKETING METRICS 20
AwarePeople that are known to your company but are not yet customer or even legitimate sales prospect
Fundamental Funnel Blocks
DEMISTIFYING CONTENT MARKETING METRICS 21
InterestedQualified sales prospect (talking to a sales representative or digital shopping cart)
Fundamental Funnel Blocks
DEMISTIFYING CONTENT MARKETING METRICS 22
CustomerPeople that have fallen through the end of the funnel
Fundamental Funnel Blocks
DEMISTIFYING CONTENT MARKETING METRICS 23
Example: Jorgenson Corp.Before Marketing: Blog outfitted with calls-to-action that get them to give us information (newsletter sign up, resources, etc.)
Marketing Subscribed Lead: emails that explain resources available to them, including calls-to-action to learn more
Customer: though provoking content via newsletter including calls-to action about upsell opportunity
DEMISTIFYING CONTENT MARKETING METRICS 24
Implement and Integrate Tracking Systems
Doing the first two steps is critical to complete before moving on to this stepOtherwise you’ll have systems that don’t make sense for you needs
DEMISTIFYING CONTENT MARKETING METRICS 25
Take account to the marketing systems you are already using, then determine whether or not you will need additional systems to achieve your goals (if you have budget)
Implement and Integrate Tracking Systems
DEMISTIFYING CONTENT MARKETING METRICS 26
Web Analytics Tool
3 Types of Tools
DEMISTIFYING CONTENT MARKETING METRICS 27
3 Types of Tools
Email / Marketing Automation Tools
DEMISTIFYING CONTENT MARKETING METRICS 28
3 Types of Tools
Customer Relationship
Management (CRM) Tools
DEMISTIFYING CONTENT MARKETING METRICS 29
Example: Jorgenson Corp.Will need a tool to measure social shares
Will also need some kind of database solution (crm or automation system) that can track leads (and sources) as well as sales opportunities.
DEMISTIFYING CONTENT MARKETING METRICS 30
Identify Valuable Actions for all Visitor Segments and GoalsThis should be easy to do because your goals will naturally lead you to the actions you want to measure
DEMISTIFYING CONTENT MARKETING METRICS 31
Example: Jorgenson Corp.Valuable actions include•Social Shares•New leads created via inbound sources•Age of won new business opportunities•Upsells with their source
DEMISTIFYING CONTENT MARKETING METRICS 32
Execute!
DEMISTIFYING CONTENT MARKETING METRICS 33
Having these goals and systems in place to measure their success will allow you to make quick and, more importantly, intelligent improvements to your content marketing strategy.
DEMISTIFYING CONTENT MARKETING METRICS 34
To learn more about Compendium, visit
www.compendium.com
DEMISTIFYING CONTENT MARKETING METRICS 35