“Just 36 percent of CMOs have quantitatively proven the short-term impact of marketing spend. That figure drops to 29 percent when demonstrating long-term impact.”
These disturbing statistics were from Paul Roetzer’s presentation at this year’s Content Marketing World, 7 Steps to Becoming a Performance Driven Content Marketer. Roetzer said content performance has become a critical issue for corporations.
CMOs can begin to improve these figures by making every content piece accountable to the bottom line, just like VPs of sales hold each one of their sales people accountable to meeting and exceeding sales quota.
But how do you do that? Here are two simple steps:
1. Measure Content Conversion Rates
“Traffic x Conversion Rates = Success!”
So said one of the first slides In Andy Crestodina’s standing-room only presentation at Content Marketing World, Content Marketing 201. This formula may seem obvious to you and me, but it’s amazing how many companies either don’t know this or don’t take it seriously.
Here’s how to calculate the conversion rates for each piece of content so you can find your content champions…