Content marketing is an essential pillar of modern businesses. Compelling content can drive traffic & generate conversions from related leads. As such, it is no wonder a vital portion of a startup’s marketing resources is allotted to content marketing.
While usually not as costly as advertising, expenses till needs to be checked. Here are some techniques to keep track of content marketing expenses, set metrics, & measure KPIs.
You can use various ways to connect with customers using content marketing. Email marketing drives, for instance, are generally employed by entrepreneurs & big businesses alike. Blog articles, YouTube videos, social media posts, & shareable graphics are all ways to start making a relationship with customers.
With the apt tools and approaches, these two things can all work synergistically to make leads & conversions. Of course, a lot of these tools are not free. Content marketing can make your company money but will also require money to implement.
Creating a Content Marketing Budget
Before you can begin to track your content marketing expenses, you should consider your marketing budget. Content marketing can drape into any type of budget. You eventually want to produce content and share it. The more elaborative your content and the further you want it to reach, the more costly it will be. However, as a manager, you can decide to schedule in a few hours a week to craft & publish a blog post on your website. Voila! You have engaged in content marketing without spending cash.
Types of Content Marketing Expenses
Luckily, there are many great free tools available online to get you commenced on your journey to producing a great content marketing strategy. Eventually, you will need to be ready to invest in tools to scale your company. Some common content marketing expenses include:
- Outsourcing to freelancers or VAs to create, curate & share content
- Social media management software
- Email marketing systems & management tools
- SEO and digital marketing consulting
- Promoting content
- Project management tools
- Photography and videography
- Graphic design
- Online advertising campaigns
- Sales funnel development
When thinking which expenses you should track, also think about what it requires for one piece of content to get from your computer to the consumer. Every part of the process might have a cost attached.
Keeping Costs Low
The smartest way to keep your costs in range with your business is to utilize a percentage of your overall budget to be allotted to content marketing. Then as your company grows; your content marketing budget will increase as well. This benefits sustainable scalability in your business.
By tracking your content marketing expenses and setting KPIs, you are also able to decide which tools or strategies are working and what must be refined. Monitoring your email lists & keeping them clean implies that you can stay under subscription limits and keep monthly costs low while targeting engaged consumers.
Keep the Customer in Mind
One of the advantages of content marketing in the digital era is that parsing the effectiveness of your strategies is as simple as clicking a few buttons. Set objects for incremental advancements in reach, engagement, lead generation, and sales conversions and track them using tools like Google Analytics. This will enable you to ascertain where you direct your content marketing focus and budget.