How do you get buy in for your budget and content strategy?
In this post I (Aiden *waves*) will give my tips on how to get buy in for investment in your content marketing strategy, and it all comes down to the numbers.
There is one thing that motivates all bosses, investors and business owners. The bottom line!
You know in your gut that you need to do more content marketing, and be better at it, but to do this right, and be effective, you need a strategy and investment to make it happen.
The Content Marketing Association quoted that 9/10 marketers are doing some form or marketing, but it is not always effective. Why? No planning, no insights, no measurement, and with that, a hard sell to get buy in from your boss among the chaos.
So, how do you get buy in?
Bring it down to the raw numbers, the bottom line. Outline what your business objectives are and assign a Key Performance Indicator (KPI) next to it.
Let’s say your business needs to acquire 224 new customers with an average order value of £50 and and a revenue target of £11,500 over the next 12 months.
You look in your web analytics and see that you have 35,000 unique visitors to your site and you manage to turn 224 of those visitors into customer. This means your business is running a 0.64% conversion rate.
But you want more.
You want to do better, you want to crush that KPI and get more people converting. You know that by having stronger, relevant and original content on your website will support this.
Make your case by showing how using content marketing can improve your conversion rate and the impact on the bottom line.
Argue that if you improve your conversion rate from your current 0.64% and 35,000 visitors to the site but convert at 1%, this would generate 350 customers with a value of £17,500.
You are losing money by NOT investing in content marketing!
The real win is showing that not only can you improve the conversion rate on your existing baseline KPI but you can get more traffic to your site, through an inbound marketing approach.
Let’s say that your site improves traffic to from 35,000 unique visitors to 45,000 unique visitors, and you converted 1%. that would give you 450 more customers, with your average order value of £50, that would be a revenue stream of £22,500.
Now, if you walked into your boss/ investor/ owners office and showed them their current, existing baseline stats, and what it could be…….what they are missing out on, you are on a stronger footing to start that conversation about investment in your content strategy.
If you would like to use the template that I have mentioned in this post (see spiffy image of the goods below) you can access the content marketing buy in google sheet here, feel free to use, comments and feedback welcome. To download, select FILE and make a copy, and then you can plug in your numbers! Hurrah!