Businesses are quickly adopting content marketing as a way to drive brand awareness and increase sales leads, but how exactly does content marketing generate revenue? Marketers and business leaders alike are struggling to tie their content marketing efforts to their bottom line – which is a huge problem. In order to understand exactly how revenue is being generated, you’ll need to understand the two major components of successful content marketing; quality and tracking.
I can’t stress to you enough how important it is to produce quality content. If you provide material that is genuinely good, people will talk about it and share it with their networks – all of which contributes to generating brand awareness, directing traffic, and ultimately increasing sales. Now – I should mention that it’s also very important to promote your content, but promotion is ineffective unless you have something valuable to offer your audience and convert them from visitors to customers. This bring me to the second major component; tracking. Once you’ve created great content, you’ll need to monitor and track everything in order to understand how your content is being received and consumed by your target audience.
The analytics derived from tracking and monitoring will allow you to see how many more visitors your site is attracting, the number of email subscriptions you’re collecting from your blog or website, as well as the number of leads or conversion points you’re getting. Almost any analytics tool will allow you to track conversions based on entry sources. You’ll also be able to view which pieces of content they consumed during their buyer journey – giving your sales team extra intel on what that prospect might be looking for (aka – a qualified lead).
But it all starts with good content. Attracting your target audience and generating word of mouth is important for increasing traffic and sales. Marketing Charts conducted a survey that found 84% of people trust recommendations from people they know, so creating “word of mouth” buzz is very effective. Once you’ve attracted readers to your site with quality content, you can begin tracking their consumption, maybe even obtain their email address, and start nurturing them through the funnel.
This is how content marketing generates revenue — through a continuous cycle of creating quality content and tracking. By building a foundation of quality content, you give your audience a reason to engage with your brand. Meanwhile, monitoring and tracking will give you insights on which content your audience is consuming along their journey to becoming a customer. Having those two major components in place will enable you to drive revenue through content marketing.