What do you do if your stakeholders don't understand the ROI of content marketing?

I’m working with a number of brands at the moment who are all questioning ROI specifically with music based content. What I’ve noticed is that there is a lack of understanding regarding the effectiveness of the music specifically, which forms part of the content. From what I am seeing, these brands have not yet identified specifically what metrics are needed to be measured therefore ROI is becoming difficult to track. I would therefore suggest defining at the earliest stages possible what exactly success looks like and then putting in place measurement techniques to be able to benchmark and monitor. This has to be a priority.

When stakeholders struggle to grasp the ROI of content marketing, defining clear goals becomes paramount. Establish specific objectives such as brand awareness, lead generation, or customer engagement. Align these goals with measurable metrics to demonstrate the tangible impact of content efforts, facilitating a better understanding of its ROI among stakeholders.

After defining goals, determining relevant metrics is crucial. Focus on those directly linked to the bottom line, like leads, conversions, sales, revenue, customer retention, or lifetime value. These metrics illustrate how content impacts business outcomes, helping to calculate and demonstrate the ROI of content marketing effectively to stakeholders.

Find a way to tie it to sales. Always. That's what stakeholders care about. If you can explain the sales funnel and how content is feeding it, you'll be fine.

Picture this: You're in a room with skeptical stakeholders, trying to sell them on the ROI of content marketing. You've got the data, but it's not enough. So, you do what any good content marketer would: you start telling a story. You paint a picture of your ICP's journey, showing how your content solves their problems and meets their needs. You share real-life examples of how your content has impacted people and discuss the challenges and lessons learned along the way. Finally, you bring out real evidence – we're talking case studies, testimonials, etc. – to show the tangible results your content has achieved. Skepticism will (hopefully) fade away, replaced by curiosity and maybe even excitement.

Imagine presenting a dense spreadsheet filled with metrics and analytics to stakeholders more attuned to the language of budgets and bottom lines. Your data might get lost in translation, failing to communicate the real impact of your content marketing efforts. This is where storytelling becomes a potent tool.

Crafting a compelling narrative is essential to persuading stakeholders. Connect content, metrics, and goals by showcasing how it addresses audience needs or business challenges. Highlight benefits, challenges, and insights from your strategy. Use examples, testimonials, or case studies to reinforce your points and demonstrate the tangible impact of your content efforts effectively.

Sometimes addressing concerns head on is the best course of action. Once you understand their hesitancy or sticking points, you can address them. Especially where content marketing may not have stats and figures to lean on, you can draw on verifiable industry research & data or even anecdotal experience to show the value. Competitor analysis can also help you demonstrate the value - if it is an industry standard, this can also be a good business case for continuing at risk of falling behind competitors.

Take the time to listen to any concerns or objections that stakeholders may have about content marketing. Address their questions and provide reassurance by offering explanations, examples, or additional information that address their specific concerns. Build trust and credibility with stakeholders by consistently delivering results and demonstrating the impact of your content marketing efforts on business outcomes. Be transparent about your strategies, processes, and performance, and be responsive to feedback and concerns.

Seeking feedback from stakeholders on your content marketing ROI report is crucial. Ask for their thoughts, likes, dislikes, and preferences. Listen attentively to their opinions, suggestions, and expectations. Demonstrate value for their input and readiness to enhance the strategy based on their feedback. Build trust and rapport, fostering a collaborative and transparent relationship for future endeavors.

Stakeholder objections to content marketing often stem from the fact that their own KPIs are lower funnel. To address those objections, you need to demonstrate how improving all stage of the funnel using content improves performance at the bottom.

If you want stakeholder buy-in, include them in the process. I started bringing stakeholders in at the very beginning of the content project, and you know what happened? They got excited! They started to understand what it was all about. They wanted to be included. My advice: Bring in stakeholders from all departments in the business, interview them, and include them in the process. Then, review the strategy with them -- invite them to be content creators. They have amazing insights you're missing out on.

Consider the importance of agility in content strategy, allowing for timely adjustments based on evolving trends and audience feedback. Emphasize the significance of consistent monitoring and analysis to stay ahead of competitors. Additionally, explore the potential of emerging technologies like AI and machine learning to enhance content personalization and engagement. Continuously innovate and adapt to ensure long-term success in the dynamic landscape of content marketing.