How do you measure the performance of your content marketing? LinkedIn recently introduced a Content Marketing Score to track and benchmark the performance of content on the LinkedIn network. This effort highlights a larger issue – it’s tough to track the effectiveness of content marketing efforts.
We’re not great at tracking marketing in general
The most recent release of the Duke CMO Survey confirms the scope of the problem. Conducted twice a year through the Duke Fuqua School of Business, the survey is a rich source of information about trends in marketing. You can see the overall results here or drill down to the results split out by industry characteristics and look for what’s happening in B2B marketing.
One interesting difference between the B2B and B2C responders was that B2B marketers were significantly worse than their B2C counterparts at quantitatively proving the impact of their marketing efforts.
Source: The CMO Survey (February 2014), Figure 3.7, Highlights and Insights Report
When it comes to short-term impact, B2C product marketers can prove their effectiveness at more than twice the rate of their B2B colleagues.
Near half of B2B marketers claimed ‘qualitative’ proof of their marketing effectiveness without the hard data to back it up. And almost 20% had no idea at all. Because content marketing is a growing part of the B2B marketing investment, it most certainly contributes to the problem.
Measuring content marketing is difficult
Measuring effectiveness of content is difficult, particularly in B2B. Content marketing often helps the buyer through a journey, and sales can rarely be attributed to a single piece of content or interaction. Different metrics are appropriate at different stages of the content cycle.
For a lead generation piece, a high number of downloads or registrations may be the best measure of success. A piece designed for a specific buyer persona late in the sales cycle may reach a small number of people but play a critical role in revenue. I once wrote a white paper intended for one specific prospective customer of an early-stage B2B company. Given the size of the deal and the importance of the customer, creating the paper was well worth the time and effort.
That being said, you should certainly try to track the effectiveness of the content marketing investment as best you can. Just realize that it’s an imperfect art. And remember that your social media and content marketing efforts may trigger the ‘offline’ discussions that ultimately deliver big results. Thanks to Heidi Cohen and her blog on P2P Content: The Content Nobody Measures for advocating the importance of the offline world!