3 Keys for Better ROI
One of the biggest concerns my clients have is around measuring return on investment for social media marketing – maybe you can relate?How do you know what’s “worth” it? How do you budget for content and social when the returns seem low?Here are the most common mistakes folks make (and some juicy suggestions) to help you get clear!
#1 Content Pillars
If you define content pillars as “themes” or “categories” for your content, you’re setting yourself up for failure and confusion. Yes I know—this is the industry’s standard for organizing your content strategy. Is it surprising that the marketing industry misleads you?Instead, we need to align our pillars to very specific business objectives. My favorites are demand generation (aka awareness) demand conversion (aka sales) and loyalty (which increases your profitability as a brand).When you design your content strategy like this, your entire marketing program becomes measurable at its core because you are clear on the intention of every single content investment you make.
“I’ll get you a 10x ROI on your ad spend!” “2x sucks!” “Actually, you’re just trying to break even here to liquidate your ad costs!”If you’re an intelligent founder or marketer, you’re likely searching for benchmarks—or in other words, industry-accepted rules—to help govern decision-making around your marketing budget. What is “good?” and how do you know if you’re doing things well? I guess it’s easier for the industry to offer you “golden rules” than to teach you how to generate real benchmarks for your brand…
#3 For Maximum ROI, Think for Yourself
The problem with these golden rules? There are endless factors that determine what your brand’s unique benchmarks should be. These include the life stage of your business, your goals, your budget, your industry, your price point, your current audience size, the health of your organic traffic, and more.Not to mention, attribution is always a little off. For example, my ROAS on a specific ad campaign might not look great, but if I know that campaign is responsible for all of the sales coming in from organic and email, I need to look at the full picture before turning that campaign off!Don’t make decisions based on advice from strangers on the internet, even if they write for HubSpot. This could lead to you shutting down a marketing campaign that has the potential to change your life.
Instead, make decisions based on your marketing efficiency ratio (MER)— the relationship between your total marketing spend and total revenue. Favor marketing campaigns that correlate to your healthiest MER.If this all sounds logical but you want our support in designing your brand’s unique, powerful, and measurable AF content strategy, our signature program, Content Strategy Accelerator, is coming back with the first LIVE support sprint we’ve offered in over a year, along with fresh updates to help you optimize your marketing according to the 2023 digital landscape!Together, we’ll👉 Design your brand’s highest-performing content strategy and go-to-market plan that drives maximum return on investment.👉 Meet every week to talk about your customer, your goals, your resources, and your brand’s best path forward.👉 Create your own unique measurement model that removes all confusion and gives you confidence your marketing program is effective, profitable, and sustainable.👉 Sooooo much more!
When you enroll in Content Strategy Accelerator before May 21, 2023, you receive $250 OFF admission price!
Hope to see you on the inside 🙂
< Back To Blog