ROI on Content
The subject of how to measure ROI on content often comes up. At an Interactive Minds seminar this week, Matt Henry, the former marketing head of Digital at the NRL, proposed that the true measures of ROI are attention and relevancy. I liked that line of thought, because it’s simple, and it’s focussing on the right things.
However, I think Matt might have been slightly glossing over a few realities, and he did allude to the hard work that he and his team did to create more hard-nosed data that showed a correlation to sales.
But what is that data? The question made me think about an old CMI and Convince and Convert post that was a quick and simple guide to measuring ROI. In a nutshell, it suggested that there are four main types of metrics that should be tracked and measured when defining content ROI:
1. Consumption metrics: views, downloads
2. Sharing metrics: likes, shares, forwards and links
3. Lead generation: gated downloads, email and blog subscriptions, conversion rate
4. Sales metrics: ecommerce sales, content consumption, anecdotal evidence
You can read more at the Content Marketing Institute
A key takeout of this article is the idea that the end goal of content is action, not just eyeballs. It’s about achieving business objectives, not just content objectives.
Following this model is a neat, easy way to get started on the ROI road. Within each of the metrics there are endless avenues to explore, and plenty to get the CEO smiling.