HOW TO ANALYZE YOUR CONTENT AND MEASURE YOUR MARKETING ROI
So…you’re scratching your head, eh? I get it.
You’re wondering how your content is really stacking up.
You’re posting on all the social media platforms, blogging, and sending out regular newsletters but I know you are wondering if you have gotten an ROI.
So much time, effort, and even money has gone into your content marketing strategy and it feels like you’re doing all the work for little to no reward.
Does that sound about right?
Trust me, I honestly understand. As someone who pushes out A LOT of content on a regular basis for myself and my clients, I understand the importance of analyzing your content and measuring your marketing return on investment. I won’t lie, it an be tedious but it’s an important part of your marketing strategy. The good news is that you can always outsource this task to your virtual assistant (VA).
By the way, do you love watching video? Click PLAY to watch a video about this very topic! ⇰
Alright, let’s dive right in and work this out together!
To fully appreciate the process we are about to embark, it is important to understand what content marketing is and how it benefits you as an entrepreneur or small business owner.
WHAT IS CONTENT MARKETING
The Content Marketing Institute, defines content marketing as the following.
“Content Marketing is a strategic marketing approach focused on creating and distributing valuable, relevant, and consistent content to attract and retain a clearly defined audience - and ultimately to drive profitable customer action.”
This is my favorite definition of content marketing!
The content you create touches virtually everything in your business when it comes to marketing and sales. Social media posts, lead magnets, sales funnels, and more. Which is why it is so important for you to master and leverage the power of content marketing. As well as learn how to analyze and measure your marketing.
WHAT ARE THE BENEFITS OF USING CONTENT MARKETING
Now when it comes to the benefits of content marketing, oh my goodness, there are a lot! However, let’s briefly discuss some of my favorites. Here are five to get you started!
Creates and builds awareness about your brand with your target audience
Drives traffic to your social media, website, and list
Builds trust with your target audience
Generates leads for conversion
Positions you as a credible expert in your industry
As I mentioned previously, there are several benefits to utilizing content marketing as part of your overall marketing strategy. I merely touched on a handful of them; however, if you would like to read more about the benefits, here is an article from Lyfe Marketing that provides 25 benefits of content marketing for your additional reading pleasure.
WHAT ARE THE 10 MOST POPULAR TYPES OF CONTENT USED IN CONTENT MARKETING
One of the questions I get asked frequently from my audience is about the different types of content that are the most popular to use when utilizing content marketing for your business. Lucky for you, since I write content for myself and several clients, I know a thing or two about what’s trending for content. Here are ten of the most popular types of content used in content marketing.
Social Media Posts
As you can see, there’s quite a variety for you to choose from. You don’t have to use them all but I recommend you choose a few and give them a whirl!
HOW DO YOU ANALYZE YOUR CONTENT
Alright, now that we have discussed the definition of content marketing and its benefits, the most popular types of content used, let’s finally dive in and discuss how you can analyze your content.
When it comes to analyzing your content, you will evaluate four key areas: views, social metrics, performance, and lead conversion.
It is my recommendation that you use Google Analytics for the analyzing. It’ll save your a ton of time in the process!
If you don’t have it installed, it’s obviously important to get it installed on your website and set up to track these key analytics. If you’re not tech savvy and Google Analytics gives you a headache, outsource it! Don’t waste time on tasks that are outside of your zone of genius.
The views on your content provide insight into how well it is being received by your target audience. It can also give an indication of the topics and types of content to repurpose or create in the future.
When we are looking at the views on your content, we are reviewing how many times a piece of content has been read, watched, or downloaded. To do this, you can utilize Google Analytics, Social Media analytics, and your Email Service Provider analytics to perform a content audit and determine the pieces of content that have the highest views.
The Social Media metrics provide insight into what your target audience is interested in and can help you evaluate how well your distribution strategy is working.
When looking at the social metrics, you want to review the “vanity metrics” such as likes, shares, comments, and click-throughs on individual posts. To perform this test, you could use Google Analytics and the social analytics for each Social Media platform to find the content with the most engagement.
The performance evaluation is important and provides insight into what interests your target audience in terms of the content topic and can help you create future content that is similar.
When reviewing the performance of your content you’ll perform a simple content audit. It’s recommended that a quick audit is done weekly so that you can keep up with the information but if weekly isn’t an option then monthly at most.
Now if you have never done a content audit before, you’ll want to do one quickly and review the most recent 15-20 social media posts, newsletters, and blog posts to evaluate their performance.
In both circumstances, you’ll use the content matrix to help guide you to finding the most engaged and highest performing content topics. You can also use Google Analytics, your website, social media, and email service provider analytics to find these pieces of content and to conduct a quick content audit.
How does the Content Matrix work? It’s quite simple!
When you are conducting the content audit, you are looking to place the content topics into one of the four quadrants. Your goal is to repurpose the content located in the ‘High Performing’ and ‘High Engagement’ quadrant.
Any content topics that land in the ‘Low Performing’ and ‘High Engagement’ quadrant or the ‘High Performing’ and ‘Low Engagement’ should be modified and tested again for improvement. There are three main components to test: headline, call to action (CTA), and image. Choose one of the components to change.
I generally follow a three strikes and you’re out policy since I am a former fast pitch softball player. Which means I retest content from those two quadrants three times before I bench them.
The last quadrant, ‘Low Performance’ and ‘Low Engagement’ generally means it’s not worth my time to retest them. However, if there is a piece of content that I want to retest, then I will but for the most part I stick to these quadrants so that I don’t get bogged down with the testing, tweaking, and analyzing phase.
One more thing, there could be a fourth component you could tweak but do this sparingly. If I find that my content isn’t broken up as well as I would like it, then I may test it again by breaking up the content with bullets, numbers, emojis, etc so that it’s easily scannable. I don’t do this often but it is another option if your gut is telling you to try the content one more time.
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Lastly is lead conversion. This one is pretty self explanatory but we will address it briefly. When you are reviewing your content you want to track which pieces of content are generating leads and sales.
This will provide insight into how well your content is converting and help you develop future marketing strategies that’ll drive conversion. This can be done using Google Analytics, your website and email service provider analytics too.
When you are conducting your content audit, this would be an ideal time to track, if possible, which content has generated leads that you can knowingly track.
HOW DO YOU MEASURE THE MARKETING ROI OF YOUR CONTENT
Lastly, let’s discuss how to measure the return on your content marketing investment. It’s a simple calculation. However, it can be a bit tricky if you don’t have the systems in place to monitor where sales are coming in from. My recommendation is that you get one created STAT if you don’t already have one in place.
To calculate the ROI on your content marketing, it is a simple three-step process.
Step 1: Determine how much was spent to create + share content
ie: images, video, audio, outsourced work, social media ads, PPC ads, software, tools, etc
Step 2: Determine the total amount received as a return
Track the flow and process for sales
Step 3: Calculate your ROI
((Total Return - Total Expenses)/Total Expenses)*100%
Let me show you how this calculation works with real numbers so that you can visually see what I am doing.
Revenue = $1,200
Expenses = $200
Calculation: (($1,200 - $200)/$200)*100 = 500% ROI
Told you, there isn’t much to it! Once you have the ROI calculated you can see how much your efforts and content marketing strategy are paying off.
Alright, now that you know how to analyze your content and measure the ROI of your content marketing strategy, it is time to put it into action!
Looking for more free goodies so that you can be a pro with your content marketing? Join my F-R-E-E Subscriber Tribe to gain access to my incredible Resource Library that hosts 20+ resources, such as the content matrix, to help you in all areas of your business. Join the Subscriber Tribe!
One more thing, if you are interested in more topics related to content marketing for your business, check out the 'Related Blog Posts' below.
Share in the comments: What was your biggest takeaway from the article when it comes to analyzing your content and calculating an ROI?