Content Marketing: What To Measure Beyond Sales & Leads
Sure, you should be measuring revenue and leads related to your content marketing, but what are the other less-obvious benefits that content provides?
How should content be measured and analyzed? Let us count the ways (or at least begin to).
This column is intended to be an informal sounding board for ideas. Summer’s over and it’s time to get cracking on new research. Next up (in my capacity as a research analyst): content metrics.
My goal on this next project (which I’m undertaking with fellow analyst Susan Etlinger, a specialist in data and analytics) will not merely focus on how companies are measuring the most obvious content marketing goals, such as ROI, or increased sales, leads and conversions. We’re hoping to dig deeper and learn more about some of the less obvious content marketing benefits, as well as to uncover best practices for establishing content KPIs and putting processes into place to measure success.
We’re only just kicking this off, but here are some of the other, the more unexpected, areas that qualify as content marketing KPIs. Measurement practices are just beginning to emerge around these KPIs, and we’ll doubtless uncover more as we begin to research in earnest. Remember: this list deliberately does not include ROI, sales or lead-related metrics.
Brands have long used digital content to help customers to help themselves. Can that value be measured, e.g. the cost of solving an issue with content rather than a much more expensive call center? Sony’s European Forum & Community Manager, Nico Henderijckx, recently shared great stats around how he calculates value. A recent how-to troubleshooting post, written by a super user on a Sony community site, was viewed by 42,000 visitors. The average call center call costs the brand €7. So the potential value of this one post was €294,000 (7 x 42,000).
Moreover, Henderijckx throws an annual offsite conference for the 45 super users of Sony’s European community to encourage their continued participation. They leverage this in-person opportunity to shoot over 300 videos of those users which are later shared with the broader community audience. More content!
Companies that have no problem understanding the value of content marketing still struggle to streamline processes, collaboration and efficiency. Great content comes at a cost — and, like all processes, efficiency is a goal. That’s why I love this recent case study (via Percolate) on how Unilever managed to save $10M annually on content production costs. As brands become even more sophisticated, they’ll begin to measure how content saves money in a converged media environment.
Reusing, repurposing and optimizing existing content can translate into savings across paid and earned media, as well as on creative and agency services.
Not unrelated to efficiency is the role content can play in employee engagement and advocacy — but it goes beyond that as well. Employees who are trained and comfortable with digital content can communicate (often, far better than senior leadership) on a variety of levels and with a range of constituencies, ranging from customer care to sales to recruiting and sales.
Engagement & Amplification
Shares, comments, pass-alongs. “Engagement” is a vague word indeed, but there are many, many instances of content marketing achieving as much reach as paid media, at a fraction of the cost of a campaign that a media buy would entail.
Take the tech company that engaged influencers to create content on topics related to their products (importantly, not about the actual products or brand) and, with disclosure, promote the pieces in their networks. This resulted in 1.1 million interactions — an average 128,000 shares per piece of content. In a B2B context, that amounts to paid media reach without the cost of a paid media buy.
There are a host more potential KPIs: purchase intent, brand sentiment, customer retention, recruitment, consumer insights, feedback and product development/improvement — all of which can be fostered, nurtured and measured with content marketing underpinned by a solid strategy.
That’s what I’m going to spend this Fall season researching. Let me know if you have other examples or great case studies of the less obvious side of measuring content.