There are two main types of money loss your company can face. The first is by not reaching new audiences fast enough to get the revenue they represent. The second is by incurring expenses you don't need.
If your company's content marketing and social media campaigns aren't informed by analytics, then both types are hurting your company. Here are three ways that happen and how to make it better.
1. Your emails won't help subscribers.
Emails are still a great marketing tactic, even though everyone complains about email spam. But if you want to differentiate your company from the rest of the businesses trying to reach your target market, you have to give them content and offers that actually matter to them. That starts with you finding out what matters.
The best way to get an accurate read on what each of your subscribers cares about is to automate your email campaigns and use a smart AI tool to gauge their interests. When subscribers are ignoring certain emails and clicking on others, that tells you a lot about what they care about and how likely they are to make a future purchase.
People unsubscribe when emails aren't helpful.
Even automated emails take time and money to create. So if your content team is making them and no one is reading them, you need to either change the content or find a more responsive market. Unread content is both a financial cost and an opportunity cost.
This is even more important because, once subscribers unsubscribe, they're unlikely to return. They'll remember your brand as unhelpful or not in line with their interests, even if they encounter your website sometime in the future.
Fine-tune email marketing campaigns based on interests and past interactions.
A good set of marketing analytics tools or a service doesn't just tell you if people are reading your emails. You can also get more information about how subscribers interact with your emails, including:
- if they click on embedded hyperlinks.
- if they return to the email and (through it) your site a second time.
- what specific topics, products, and articles each user is interested in, as well as the aggregate market segment.
This information lets you modify your campaigns to give consumers more of what they're looking for. Not only does that reduce the risk of people unsubscribing, it makes your company more of a reliable authority.
2. Your blog won't reach people in the middle of the buyer's journey.
If you don't know who's reading your blog, all you can do is create new content and hope it resonates with consumers who want to make a purchase. Instead of writing and publishing in the dark, find out who is both accessing your content and reading it the whole way through.
Which search engines queries pull up your content?
With the right set of analytics tools, your site can keep track of where every visitor comes from. If you just published a new article on your business blog, you can see how much traffic came from your social media blast, which views came from people already on your site, and who accessed the article from an organic search.
While every bit of that information is important, the search query data is particularly important. Different searches tell you different things about your readers' likelihood of buying. If someone types in a general query about a problem your products can solve, that's good news. But if someone types in the specific name of your product and reaches your site, that's an even stronger sign that you're going to make a sale.
Once you know which articles are found by the most likely leads, you can focus on creating more of that profitable content.
Some readers aren't as valuable as others.
Search queries give you insight into the urgency of your viewers' searches. But how your readers engage with your content can tell you even more about their buying habits.
High statistics are usually good; if lots of people are reading and sharing your content, that's a positive sign. But you need to know which of your readers are good leads who are likely to make purchases. For example, if you have a lot of long-time subscribers who haven't made purchases, they might just be using you as a resource.
This isn't necessarily ideal, but it's still a positive thing for your business. Let's say they like Content Type A, which are long-form, technical articles with lots of good information.
You also have readers that quickly convert from visitor to subscriber to customer. These are the customers who both have a need and are actively looking for a purchase that will solve it. They also like Content Type A, but they also like Content Type B, reviews, and Content Type C, tutorials for your products and services.
If you don't know which type of reader is showing up in your statistics, you might focus on Content Type A because of the high readership when it's more profitable to focus the bulk of your content creation on other articles.
3. You spend time and money on content that doesn't matter.
All content matters, but some of it doesn't matter enough to warrant the resources that go into creating it. Measuring your online presence through analytics doesn't just let you know consumers are listening, it helps you focus your business on the ideas that matter the most to your customers.
Learn which topics are your core content.
Your core business will change over time. You might start out as a personal finance consultant but your business turns into selling spreadsheets and templates so people can organize their own finances. You might start out selling tea and end up primarily selling the mugs and accessories that were just a side-project at the beginning.
Always reevaluate what you think your customers are interested in by seeing what content hits the hardest and gets repeat views.
Find out which content does well on different social media platforms.
Not only do different types of content work better in general, but different types of content also resonate better with audiences on different social media sites. A list of tips might get a lot of shares and engagement on Twitter while it gets buried on LinkedIn. An infographic might spread like wildfire on Facebook but nowhere else.
If you're considering using paid social media ads as part of your marketing strategy, you need to know what works where. Not only is that better for overall growth, it means you're losing fewer advertising dollars along the way.
Behind every good content marketing strategy is an endless stream of numbers. If you want to focus on your core business, go to BOLD Worldwide for the tools and services to handle the analytics for you.