One of the biggest advantages of content marketing is its potential to generate large returns on investment (ROI). Content marketing ROI is the critical number that informs you about how efficiently your campaigns are performing. In case you are not familiar with content marketing, be sure to check out Basics of Content Marketing before you continue!
According to Forbes, content marketing achieves high ROIs for the following reasons:
- Minimal costs: Creating content for your brand often doesn’t take much time or money compared to other marketing investments. Unlike traditional ad campaigns, you won’t have to pay significantly for placement because you can a few hours creating and posting a blog or video on your own domain or other low cost to free platforms.
- Long-term durability: The content you make can last longer than most other marketing or advertising campaigns. Your content will stay on the web for as long as you allow it and will continue to earn value for your brand indefinitely.
- Compounding effects:The more you invest in content marketing, the bigger your audience will become, and the bigger your audience is, the more impact your content will have.
With all the benefits content marketing produces, the best strategies are the ones that exploit these key benefits in order to efficiently generate even larger returns. Listed are 5 ways you can increase your content marketing ROI:
1. Create content that serves multiple goals
There are a number of goals you can establish for your content marketing campaigns, whether it is to improve your brand’s reputation or to attract new traffic to your website. Whatever the case is, the best strategy would be to use content for a bit of everything. Not only will this improve SEOs, but it will maximize the value of every piece of content you distribute.
2. Track content cost and usage
In order to understand how well your content marketing strategies are performing, it is beneficial to truly dig down and account for every piece that you have created either in-house or paid for. If you generating content unsystematically, you may end up with blogs that have no purpose, which result in a complete waste of resources. That is why it is useful to have a clear strategy and solid publishing calendar to keep track of used and unused items, as well as make sure everything created is of quality and is cohesive.
3. Repurpose content
Always revisit and reuse content that you have already created. Once created, that content can continue to be stretched and repurposed. The more content you can generate from one quality item can reduce the amount of money spent on new marketing strategies to generate completely new content. You can reinvent, reuse, and repurpose already published pieces by either writing a follow-up piece or developing the original item in other forms of media to attract different audiences.
4. Exploit free distribution channels
You content marketing campaign can only impact those who have the chance to see it. While you can spend money on advertisement and marketing placements, it will result in an increase in costs and negatively impact your ROI. As an alternative to spending thousands to be featured on certain platforms, it is always worthwhile to spend time distributing your content on free platforms like on social media or on your own website. The more channels your content is distributed on, the more likely it is for it to reach a larger audience and increase your return with no additional cost.
5. Allow users to create content
You may think that only you can create content to meet your strategic goals, but you always have the option to engage your users and have them create content. Through user-driven forums, your customers can create, submit, and answer each other’s questions. While engaging your customers, you are also generating new content at a significantly lower price than if you alone were to create the content.
Don’t be afraid to experiment and push the boundaries even further when it comes to your content marketing efforts. Like we said in a previous post, commit to constantly learning and improving. You will continuously optimize your campaign which will result in the generation of more value for every new piece of content you create!