In our research with IDC, over 90% of executives now require quantified proof of bottom-line impact on key investments, and use ROI more often than not to prove that the investments are generating the expected value to the organization. So if you want to assure that your content marketing efforts get the proper budget and attention they deserve, communicating the value in ROI terms is best.
However, even though the formula for ROI is not a difficult one to calculate by dividing the net benefits of a project by the total investment, the ability to measure and quantify the benefits in tangible terms is often a challenge.
To quantify the benefits, the team will need to track not just downloads or readership/reach of the content, but the impact that the content has on the sales process. Some questions the team will need to answer to quantify the benefits include:
- How many of the downloads / views converted into qualified leads and most importantly into sales revenue?
- How much did the content help to accelerate the sales cycle / decision-making process, bringing more sales revenue sooner?
- How many leads were generated more efficiently using content marketing programs versus other programs (cost avoidance)?