“If a tree falls in the forest and no one is around to hear it, will it make a sound?” It is a philosophical idea that can also be applied to B2B content marketing.
“If I create great B2B content but can’t measure it, will it have an impact?” is a question often asked by marketers. What is the impact? Am I capturing all the impact? How to optimize performance?
Measure impact Content marketing Allow B2B marketers to optimize campaigns to increase engagement and allocate return on investment more effectively. But what are the strategies, tactics and trends behind measuring the content marketing performance of B2B marketers?
To help answer these questions about measuring the effectiveness of B2B content, Ascending 2 with KoMarketing Associates The “Measurement of Content Marketing Performance Survey” was conducted between February 17 and 25, 2021. 193 B2B marketing professionals participated in the survey.
The study looks at the work done by B2B marketers in measuring the performance of content marketing. The results of the survey can be found in the research report, Measuring content marketing performance: the perspective of B2B marketers.
The following are the main findings of research on measuring the performance of B2B content marketing.
1. When measuring content marketing performance, determining ROI is the biggest challenge facing B2B marketers.
Measuring the return on investment (ROI) of content marketing is critical to optimizing strategies, but nearly half (46%) of B2B marketing professionals believe that determining ROI is the primary challenge for measuring content marketing performance. 44% of B2B marketers also face a lack of budget and resources needed to effectively measure the success of their strategy.
Why is it so difficult to determine the return on investment? The math is simple: divide the revenue generated by the content by the cost (production cost + distribution cost).
But for B2B marketers, how do you calculate the revenue generated? Do you assign a revenue number to each potential customer you generate? Do you look at the overall sales revenue? How much influence does your content marketing have on sales? How would you rate activities such as email clicks, sharing, page views, average time on page, etc.? How do you track the required metrics and convert them into dollar amounts that can be calculated for return on investment?
Here are ways to overcome the challenge of determining ROI:
- A strategy that outlines which indicators need to be tracked
- Identify the technology needed to track these metrics
- Aggregate data into easy-to-use analysis tools
- Decide how to allocate value/income to the indicator
- Keep track of your expenses.
What you learn from the data you collect, start simple and build.
2. 66% of B2B marketers find it difficult to measure the effectiveness of content marketing strategies.
Two-thirds (66%) of B2B marketers find it difficult to measure the performance of a content marketing strategy, while a third (34%) believe that the marketing strategy is moderate or extremely easy. Fifty-seven percent of people describe this difficulty as moderate, while another quarter (25%) of respondents believe that measuring the effectiveness of content marketing is moderate.
Don’t give up the need to measure the performance of content marketing. Content marketing is an investment that affects your business strategy, brand management, audience engagement, and thought leadership.
We can all find examples of how content marketing can have a significant impact on major transactions, reduce sales costs, or expand brand influence. This can be difficult, but it is important to find a consistent way to measure and show the impact on the leadership team.
2. 37% of B2B marketers are using 3-5 tools to measure content marketing performance.
Content marketing usually involves the use of a wide range of channels throughout the marketing strategy. One-fifth (21%) of B2B marketers say they use six or more tools to measure content marketing performance. Another 37% of respondents said they used three to five tools, while 29% used two or fewer tools to measure performance.
Marketing leaders need to embrace technology. A powerful technology stack can provide you with more information about your audience, customers (individuals or companies), and the impact of your campaigns. Technology can also make you more efficient, organized, and agile in tracking performance and reporting to your team.
4. Analysis tools, CRM systems and marketing automation solutions are the most important tools for measuring the performance of content marketing.
Which tool does B2B marketers find the most effective way to measure content marketing performance? More than half (53%) of the respondents put analytics tools at the top of the list. 38% and 34% of B2B marketers respectively believe that customer relationship management (CRM) systems and marketing automation technologies are also critical to overall success.
Content marketing is data driven. First, make reliable settings for your Google Analytics. Focus on four key areas: traffic, navigation, natural search and conversion.
5. According to 50% of B2B marketers, conversion rate is the most important measure of content marketing.
About half of B2B marketers believe that conversion rate (50%) and website visits (46%) are the most important indicators to consider when measuring the overall effect of a content marketing strategy. Among 39% of respondents, the participation of social media channels also ranks high in the list of important indicators.
Don’t guess about your content marketing performance; instead, determine the data that is most important to your success. Track and analyze performance to identify trends and adjust strategies based on your findings. Marketing optimization is never complete; it is an ongoing process.
Content marketing is essential to successful B2B marketing, so measuring performance is a top priority.download Measuring content marketing performance: the perspective of B2B marketers Research-based strategies, strategies and trends for B2B content marketing in the coming year.