Sign #1: You’re not measuring: the return on content
Your content can’t develop beyond what it is currently unless you measure the return on content. You don’t know how many people access it — so you can’t gauge if people like it or not, or if it’s generating new contacts.
If you did know this information, you could be breeding more shares than you currently have.
Sign #2: If your content isn’t generating engagement nor engaging leads, it may be irrelevant, or even invisible.
What does non-increasing ROI mean in practice? If you haven’t been measuring it, how can you know from your actions alone if it’s been increasing?
In other words, what is the actual damage that your business will suffer?
Here are some insider tips of the intricate process that weaves your ROI throughout the entire marketing funnel:
Tip #1: Understand your funnel:
Between the points of purchase and post-purchase, where exactly does your customer meet your content?
The picture below shows how your content is the catalyst behind your customer-brand relationship, and eventually conversion. In other words, behind the customer decision journey.
If you understand your customer-brand relationship, you’ll know what has brought (or prevented) ROI success.
Tip #2: Measure your brand lift:
Your brand lift tells you how strong your brand’s relationship is with your customer, a direct indicator of ROI. Brand lift is a stepping stone between customer interaction and conversion — paving the way to your ROI in an accountable way.
BuzzFeed provides an extensive case study of their Taco Bell campaign, which informs key takeaways about brand lift.
To increase awareness of their new ‘Loaded Griller’ product — by enhancing brand perception and building excitement.
BuzzFeed created 8 sponsored posts, with a non-sharing theme, aka encouraging readers that not everything needs to be shared, as each social sharing button on the site was hovered over with a custom bar.
Aiming to measure this content strategy’s impact on user-perceptions, a study was conducted (with Nielsen’s company, Vizu) to measure brand affinity and purchase intent — by checking:
- Was the viewer exposed to the content?
- Did the viewer view the content because of paid media?
- Did the viewer receive the content via social sharing (Tweet, Facebook post, etc.)
The study showed that viewers who discovered Taco Bell’s content on BuzzFeed through social channels were 195.9% more likely to indicate their consideration to/excitement to/had already try the new Taco Bell product.
Another key takeaway from measuring brand lift like Taco Bell did is your accuracy in targeting your audience; if your brand lift is positive, you targeted correctly, if not, you may need to re-target.
Tip #3: Measure unique page visits and time spent on page:
Measuring unique page visits and page visit duration allows you to identify which specific pieces of content your customers engage with the longest, or view repeatedly.
The longer your customer is engaged for, the more likely he is to return for a second helping (especially when you’re serving him a ‘Loaded Griller’.)
The more visible your brand-customer relationship, the more predictable your ROI. (But only when it’s accounted for!)
Tip #4: Track conversions
While you will inevitably know about conversions when they happen, you must also know what brought upon the conversion, so that you can recreate these successful processes.
That’s right! We still have more to come…
We can’t shed all our wisdom on ROI in one go, so the next piece on our blog will provide your next inkling of ROI knowledge…
In the mean time, have you developed any further understanding of your strategies to improve ROI? If so, we want to know!