Data-driven marketing is the new normal.
What ROI is your content marketing efforts generating is the top of mind question for any marketer these days. Analytics has become an integral part of any marketing strategy-in case it is not the case in your organization you’d best get learning.
Metrics today have moved beyond just the number of followers, like counts. With the advent of advanced analytical tools and the increasing number of platforms that let us speak directly with users pose a bigger challenge to marketers on how one can measure the true impact of marketing efforts on the organization’s bottom line.
So what are the metrics that can prove that your content strategy is driving business impact? How can you influence your C-suite better to unlock higher marketing budgets? To begin with, put yourself in their shoes!
There’s a big difference between how a typical marketer would talk and what the C-suite would use. For example, as marketers we tend to use words like cost per click of an ad campaign. However, when a C-suite hears the term “cost per” from marketing, they may consider the marketing team as a cost centre vis-a-vis a business growth enabler. Always talk about ‘revenue per’ or ‘contribution’ with the C-suite, with the objective of creating the perception that the marketing function is a source to generate business revenue.
Yes, the language used to talk with the C-suite is equally important as the metrics we use to demonstrate marketing success. A good way to approach the leadership team is applying the principles of buyer personas to them as well. Each member of the C-suite will have different pain points and needs, and you must appeal to these to get your point across. By choosing your words wisely with them your chances of getting the desired marketing budgets or resources become higher and thereby you can create best-in-class content.
So the next question would be, if we steer away from general metrics such as cost per click, followers etc, then what language can we use instead?
According to HubSpot, some of the key metrics that can grab the attention of C-suite include:
Always remember, the C-suite is ultimately looking for value from all of the company’s teams and marketing is included in that as well. Put in the effort to gather the right metrics and research to justify your content marketing campaign, including those ROI and customer acquisition cost stats mentioned above. Then, present your findings to senior leadership using their language. By doing this you will find that they will not only listen to you carefully but also your content strategy success.
Karthik is the Co-Founder of Pink Ladder and Founder & Director of ThoughtStarters. He has over a decade of experience in branding, communication strategy, executive communication & thought leadership marketing, human resource and operations management. He has been instrumental in creating many award winning programs for leading brands like MeritTrac-India's largest Skills Assessment Company, Wipro Technologies and Accenture. He has worked closely with leading universities, industry bodies, analysts and research firms globally and acted as a catalyst in providing best practices and insights to customers across sectors. He has authored papers & articles in international journals & has been a guest speaker at many Ivy League Universities globally. He is a serial entrepreneur, always on the look out for the next big idea! Karthik has a Bachelor's Degree in Computer Science from Bangalore University and an MBA in Marketing & Finance from IIPM Bangalore.