Content marketing is a tricky subject. We all know we should be investing in content if we want to attract and maintain traffic, but we’re never totally sure about what the best approach might be for our business. If you’re new to the world of content marketing, the chances are that one of your biggest questions will be “How much should I invest?”
Some entrepreneurs are nervous about paying for content marketing, because they know it’s a long-term strategy, and they’re unsure about the returns that they’ll get on their investment. The truth is that content marketing does pay off, and how much you should invest depends entirely on you.
Considering the ROI of Content Marketing
One of the most important factors that will influence your content marketing spend, is exactly how much payoff you can expect. It’s hard to determine ROI without any existing data, but you can try to estimate the results by looking at some of the main outcomes of content marketing, including:
- Direct conversion potential: Using calls-to-action, you can include direct conversion solutions that increase your bottom line.
- Customer retention: Customers who appreciate your content will visit more often, leading to better conversions and retention.
- Inbound traffic: By promoting your content properly, you can attract new traffic through email, social channels, SEO, and more.
- Visibility and Reputation: Creating content across various channels will drive up your authority, increasing trust among customers and potentially boosting conversions.
With so many benefits to think about, you might try to adapt your content marketing strategy so it focuses on the aspects most important to your business. For instance, if you’re worried about reputation, you might focus on building brand visibility. This means that the ROI for content marketing can be very flexible, depending on your needs, small investments can lead to huge results.
What are the Risks of Content Marketing?
It’s difficult to know whether you’re spending too much, or too little when you first start content marketing. Usually, the problem isn’t with over-spending on content, instead, it’s with over-spending before you have the right strategy in place. The more information you can gather about your audience before you go all-in with your content plan, the more you can tailor your results to your specific goals.
If you’re willing to pay attention to the data you collect and adjust your strategy accordingly, you should start to see some great results. However, it’s worth noting that the outcome for content marketing is usually a curve, not a straight line. To begin with, you won’t see a huge return on investments, but because content is permanent, your reputation will build with time. That means the more effort and time spent on your campaign, the bigger your ROI will be. It’s all about being patient.
Remember that how you invest your cash in content marketing will have an impact on your results. Some people assume that the best way to proceed is to produce as many posts as possible, as quickly as possible. However, the truth is that quality will always trump quantity in the world of marketing. One truly incredible post will get more results than dozens of mediocre ones.
How Much Should You Invest?
Unfortunately, I can’t give you a solid number for your content marketing plan, because there are too many variables to consider – from the price your writer charges, to how many posts you need for your industry. Instead, all I can tell you is that your decision should be based on the following factors:
- Creating high-quality content that outranks the competition.
- Investing even if your initial results are low. (Content marketing takes time to show results).
- Growing your investment gradually to boost your ROI.
Rob is Founder & Publisher of UC Today, a leading news publication specialising in Unified Communications & Collaboration technologies.