Tag Archives: Content Marketing

How do you measure the ROI of content marketing?

Measuring content marketing ROI

According to this Marketing Land article, nearly $ 16.6 billion was spent in 2011 on content marketing. If you’re wondering why I’m referring to such an old link it’s because finding such a link wasn’t my intention, I just came across it. Anyway, a relatively new infographic gives a roundabout budget of $ 135 billion for 2014. But the point is, big money is being spent on content marketing. If so much money is being spent, then you must be interested in the ROI – how much money you earn back by investing money in content marketing?

Content marketing is obviously different from conventional advertising. It is not a campaign whereas conventional advertising is. In conventional advertising you run your ad in a newspaper or on TV and then you get a response. Suppose you spend $500 on an ad in a local newspaper which generates, let us say, 300 queries and you’re able to do a business of $15,000. You can easily calculate the ROI here.

Content marketing is an ongoing process so ROI is indirect

It is difficult to find the ROI of a single blog post although websites with lots of traffic can do that. I often tell my clients that it may take them around 6 months to make sense of the ROI on content marketing or at least on the content I am writing for them. The reason is that when you are routinely publishing content on your website, on your blog, and elsewhere, every new blog post, every new article, every new eBook or white paper and every new social update, is a brick and you’re using multiple bricks to build the platform from which you promote your business. Yes, some bricks are more effective than other bricks (some of your blog posts and social updates may go viral beyond your imagination) but mostly it is the sum total of all the content you have published on your own website or blog and elsewhere, that eventually begins to give you an ROI.

In order to get a sense of your return on investment you need to be very clear about your KPI’s – key performance indicators. Not every content marketing strategy aims to increase your sales (fine, by the end of the day, what matters is how much you have sold). Every business has different key performance indicators. Some simply want to raise awareness. Some want to increase their email and blog subscribers. Some want to improve their search engine rankings. You may want to enhance your personal brand that in return will get you more business or opportunities. You may want to generate more leads. And so on.

One way of calculating the ROI of content marketing

If you want to use content marketing to improve your search engine rankings then make a list of keywords for which you aren’t ranking well but would like to rank well. Then initiate your content marketing strategy. Provided you are making the right moves you should see an improvement within a couple of months. You can compare the expense you have incurred getting your content written or produced and your search engine rankings to calculate your ROI.

Another method would be to note down your current sales and your current content marketing expense. Then start observing your sales performance while keeping the content marketing expense the same. As I have already mentioned above, you may not notice a difference for a few months, but eventually (provided you do everything right – that is VERY important) you will. Surely the ROI will be negative initially but soon it will improve with every month.

Is it important to know the ROI of content marketing?

Obviously. This is the only way to know whether your content marketing is working or not. There may not be a direct method of knowing the ROI specifically due to the nature of your business, but there has to be a point A and then a point B and you should be able to know that how much content marketing has helped you reach from point A to point B and preferably, more effectively compared to other means of marketing.

How storytelling helps you sell more, scientifically

Sell more with storytelling

If you keep track of the various videos going viral on social networking websites like Facebook you must have come across this heart-warming video of a small puppy becoming friends with a horse. It is a Budweiser ad video.

The video has a typical storytelling format. There is this cute puppy that lives near a stable. It often sneaks out to meet a horse and they are shown interacting and playing together. Then one day the puppy is adopted and while it is being taken in a car it starts crying. The horse, along with other horses in the stable, manages to stop the car of the person who has adopted the puppy and then gets the puppy released. The stable owner adopts the puppy and then the puppy and the horse get to live together happily ever after, or at least this is what the video shows.

This Budweiser ad has scored top honours in the USA Today’s Ad Meter and Hulu’s Ad Zone for being the most popular ad among viewers. It uses the “buddy” concept that resides within the brand Budweiser to touch people emotionally. Nowhere you see people guzzling down the beer or scantily clad women drenching themselves with the foamy liquid. The ad is full of furry cuteness.

Research has shown that it’s not the content of the ad that predicts its success, but the story contained within the content. Storytelling evokes different neurological responses. According to Paul Zak, a neuroeconomist (yes, we have those), says that a stress hormone called coristol is released when we are experiencing tense moments in a story. This hormone helps us focus. When we are experiencing or reading about something cute, like furry animals (for instance the story above) a feel-good chemical called oxytocin is released that promotes connection and empathy. Happy endings in stories trigger the limbic system, that is also called our brain’s reward center, to release dopamine, which makes us feel more hopeful and optimistic.

To prove his point Zak conducted an experiment. A sentimental and emotionally charged movie about a father and a son was shown to a group of participants. After the movie the participants were asked to donate money to a stranger. Those with higher amounts of oxytocin more readily gave money to a stranger than those who had lower levels of oxytocin (those who hadn’t seen the father-son movie).

How can you sell more with effective storytelling?

When people are on your website they are full of doubts. These doubts may originate from lack of information, lack of familiarity and a general sense of suspicion which is natural. They don’t know you. They don’t know about your product or service. They haven’t interacted with people who have used your product or service. So naturally they are not able to make up their minds.

This is where storytelling can help you.

You need to list the benefits of your product or service. You have to explain various features. But along with these, you also need to tell stories of people who have already used your product or service to enrich their lives. Create passionate stories involving your product or service. Show through what difficulties people were going before they purchased your product or service, through what sort of doubts they went before purchasing your product or service, how they ended up purchasing it and through what transformation their lives went after they have purchased your product or service.

More than believing you, your visitors would like to believe people who have been in a similar situation. People like to relate to people because for thousands of years we have been living as a social species. We need validation. We need reassuring information to give us confidence and trust. Effective storytelling can do that.

This blog post takes reference from a Harvard Business Review article on using storytelling as a strategic business tool.

What’s all this fuss about telling stories in content marketing?

Storytelling with content marketing

Everybody loves a good story, but what does storytelling have to do with content marketing?

Stories have been told since time immemorial. Even cave dwellers who hadn’t yet learned to use words (who knows? maybe they knew words but just didn’t know how to write them?) told their stories by sketching an drawing on cave walls.

The ancient traditions of storytelling

When there were no TV and Internet people would sit around a fire or near a hearth and tell stories, or listen to them with rapt attention. In India there are whole tribes of story tellers who roam from village to village, town to town, telling ancient stories and getting alms in return. In fact some of these storytellers are so famous that the government assigns a permanent salary for them so that they can keep the tradition alive.

What’s so fascinating about stories? We can relate to them. Whenever we’re reading a story, we see ourselves in one of the characters, or we have found ourselves in a similar situation, or we would like to get ourselves in a similar situation, or we strongly subscribe to the values represented by the story.

A story, in a logically arranged sequence, presents us with a problem, the ensuing struggle (or conflict), and then in the end, a resolution. After reading the story (let’s not talk about horror stories of the Stephen King variety) we can peacefully go to bed thinking that yes, it was a good end and no matter how many emotional ups and downs were there, in the end things worked out. A good feeling.

The same can be achieve with storytelling vis-a-vis content marketing. Instead of simply talking about your products and services in an uninspiring manner, tell the stories of people who were going through a problem that was eliminated by your product or service. People will immediately be able to relate to your story.

For example…

Peter always wondered why his website wasn’t converting well. He had purchased a very expensive template from one of the biggest companies that sold predesigned website templates. He had made sure that all the source code was search engine optimized. Since he didn’t find the photographs included in the template good, he spent further money to purchase expensive images from iStock.

After 5 months of relentless promotion and hiring a couple of content writers the results were as dismal as they were in the beginning. The bounce rate was more than 98% and at the most people stayed for 45-70 seconds on his website. He was running out of resources, he had started having constant fights with his wife as she thought he was wasting lots of money in the website, and found himself trapped in a vicious loop that was proving to be very difficult to break.

The story of how my content writing service helped Peter

Then one day Peter came to my content writing website.

He read about the importance of engagement. He read about how it is very important that your customers and clients should be able to relate to what you are conveying to them.

After reading a few blog posts and articles he logged onto his website and tried to look at it from a new angle.

Up till then he was simply interested in having a cool website with lots of content to improve his search engine rankings. Now he understood that it wasn’t just about looks and better rankings, it was about setting up long-term relationships with your prospective customers and clients through informative, helpful and expert content.

He realised that his website was lacking the most important ingredient: content that could convince. There was a sense of detachment. There was no “voice” in whatever was written on his website. The connection was missing. The business didn’t sound trustworthy. The writing didn’t try to solve any problem.

He contacted me.

From the beginning itself I told him I wasn’t interested in creating “tons of content” for his website. I would rather focus on improving the quality and effectiveness of the existing content.

We spent some time trying to understand exactly what he was trying to deliver to his customers? What was he trying to sell? What did his ideal customer want from him?

We shifted the focus from his product to the problem the product solved. Of course we talked about the product, but more than the product, we talked about the benefits, the ways around, and the various problems it could solve once his customers had purchased it.

We shared stories from happy customers. We collected as many testimonials as possible. We updated the content not because we wanted to cover as many keywords as possible, we updated because we wanted to share useful information with the visitors.

Gradually (actually, sooner than we had realistically anticipated) people started interacting with Peter. They would leave comments on his business blog. They responded to email newsletter that he broadcast once a week. He started getting email queries.

Then, two months after hiring me, and 7 months after having launched his online business, he made his first sale. He called me in the middle of the night to tell me that forgetting that I might be sleeping (it was daytime on his side of the globe and night time in my side).

It’s been a year now since I wrote the first web page for him. He has by now launched two more businesses, funded by the profits he made off his first business. 8 employees are working full-time under him and if things continue the way they’re right now, he plans to move to a bigger, upmarket office within the next six months.

Good story?

75% of it is true and the rest are some embellishments. But I’m sure you were able to relate to what Peter had to go through. This is what storytelling in content marketing does, it helps you help your customers and clients relate to you. Fill your website or blog with as many such stories as possible.

Content marketing means always being there

Being there with your content

Continuing with what content marketing means

Continued visibility can be both positive and negative but of course here we are talking about positive visibility. A great benefit of content marketing is being there when your customers and clients need you. They shouldn’t feel at sea when they need to know something about your product or service before making a purchase, or if they are facing some problem after making a purchase.

Trust cannot be built overnight no matter how hard you try. It’s not something like you hire 10 content writers who write and publish 5 blog posts everyday (giving you 50 blog posts everyday) and suddenly people begin to trust you mainly on the strength of the content you have produced on your blog. Of course if you have the money to hire 10 content writers to create lots of content and if you strategically publish that content not just on your website or blog, but also on other websites, it definitely helps set up a presence for you, but if you’re thinking of building trust among people in a short span, it is not going to happen.

Trust is built over a long period of time when you publish helpful, interactive and engaging content consistently. This is why you cannot have a 2-week content marketing plan no matter how much money you have got. Even the biggest brands talk about strategy spanning multiple years rather than multiple months (although there are seasonal and occasion-based marketing plans, but that’s different).

Would you rather do business with a friend or a total stranger? With a friend of course.

When you strategically create, publish and disseminate content, it helps you strike up conversations with people. They talk about what they like about your content, what they don’t like, what they appreciate and what they object to and what they would like to be covered. You respond accordingly by modifying existing content and creating new content. Your gesture is then appreciated. The mere fact that you have responded to them makes them happy and they talk about your response on their own blogs and social networking timelines. Then more people get to know you.

Content marketing allows you to initiate such a cycle. Once you have established such a cycle people know that whenever they need you, you’re going to be there, and this is one of the greatest assurances on the Internet where physical presence is not possible. People might be doing business with you across oceans. They cannot suddenly reach you in case they are happy or unsatisfied. Your continued visibility is reassuring. Through your content you’re continuously talking to people and telling them that look, you know what you’re doing and if they have a problem, you are always there to provide an answer. People can live with substandard products and services, what bothers them is your absence when they need you.

How to use hashtags as content marketing tools

Usi ng hashtags as content marketing tools

Hashtags are everywhere these days. People use them on Twitter, Google Plus, Instagram, Pinterest, YouTube and any other website where content is promoted using keywords and tags. You can use popular hashtags as content marketing tools.

Why use hashtags as content marketing tools?

More and more people are relying on social networking websites to find valuable, useful and relevant content. Random searches can be tiresome so people who are really interested in a topic follow hashtags (also called trending topics). They can either create streams based on a hashtag based on their favourite social networking tool (something like Hootsuite) or they can simply click the popular hashtag to view all the updates in the stream. For instance, if you want to know what all people are saying about content marketing today on Twitter, you can check out the hashtag #contentmarketing. So if you want to say something that you can somehow relate with this hashtag append it at the end of your message and post it on Twitter. All the people following this hashtag will be able to view this message. A problem with popular trending topics is that the message may not stay in front of your viewers because they scroll very fast – sometimes thousands of people are posting every second.

Do you want to use the trending topics as content marketing tools?

This is how it works…

Find out what’s trending and think of how you could use these trending topics for your content marketing requirements. Doesn’t matter if some popular trend is being promoted by a company, a sports club, an NGO or a political party. If it is in the public domain and if you can creatively incorporate it into your content marketing effort, you should go ahead and do so.

But make sure you don’t end up irritating people. I don’t believe that bad publicity is better than no publicity – in the business world it doesn’t work that way. You ruin your reputation as a business and it takes lots of time to undo the damage.

How to find hashtags that you can use as content marketing tools?

The first spot is of course the Twitter website itself if you want to use some Twitter hashtag. In fact most of the prominent hashtags are displayed on their respective websites. On Twitter you can find them on the left-hand side. You can see international hashtags as well as the ones specific to your country or region.

You can also create a list of hashtags that would be relevant to your business or your target audience and then routinely post updates and content links accordingly.