If you’ve focused your company’s advertising efforts on an inbound marketing campaign, then odds are that you are using content marketing as the main element of your strategy. While executing your marketing strategy properly is important in order to get results, you will need to measure the efficiency of your campaign in some way in order to figure out if your strategy is successful. Otherwise, you will not be able to adjust your strategy appropriately and will end up wasting resources on something that isn’t working. The best way to calculate your ROI (return on investment) is through the use of Cost per Engagement.
Your end goal, when it comes to your content marketing strategy, should be to attract more customers to your brand. As such, Cost per Engagement is one of the best ways to measure your strategy’s effectiveness. There are two ways to measure Cost per Engagement: the first is through Cost per Click, which measures the number of clicks on your web pages and ads. The second is Cost per Customer. Obviously, Cost per Customer metrics ends up being the most important at the end of the day. When the Cost per Customer measurement is low because you are drawing in a high number of customers, your content marketing strategy is working. This doesn’t mean that the Cost per Click measurement isn’t important as well. The more clicks you are receiving on your websites or ads the better.
By using both Cost per Click and Cost per Customer metrics to figure out your ROI, you’ll have a much better idea of how to actually adjust your content marketing strategy. For example, if you have a low Cost per Click average (a good thing, since this means that the amount of money you are putting into the campaign is resulting in a large number of clicks), but you have a high Cost per Customer average (meaning that the money you are putting into the campaign is not resulting in as many customers as you would like), it means that there’s something missing from your strategy in terms of converting those clicks into actual customers. By looking at these metrics, it makes it much easier to go back to your strategy and to adjust it accordingly.
When implementing a content marketing strategy into your inbound marketing campaign, it’s important that you use metrics such as Cost per Engagement in order to measure your ROI, allowing you to judge the effectiveness of your strategy and to adjust your strategy based on the numbers provided.
Using Cost Per Engagement to Measure ROI