With the Covid-19 epidemic spreading across the globe, we are drifting in uncertain times. As a result, we have to deal with differing projections – mapping the best and worst scenarios where both our work and personal lives are concerned.
The uncertainty has led to companies constricting their belts. Several people are looking for ways on how to maintain their budget while investing in content.
Marketing leaders opine going ahead with budget cuts so as to be better prepared in cases where the economic effect turns to be worse than the estimates.
So, the general recommendation is to not cut content but to double down, owing to the fact how Covid-19 has impacted the jobs of marketers.
The compounding or multiplying returns on content
With content marketing ROI, many people make the mistake of having only a short-term perspective. However, the effects of advertising and marketing are ever-changing.
Let’s say, for example, you spend $500 on paid search advertisements, for which you get 25 clicks today. However, tomorrow you may see a different outcome, where you may have to spend the same amount of money tomorrow if you want extra value.
Now, if you spend $500 on an informative blog post that is optimized for search engines, then you can have continuous traffic and leads. In turn, you can also build trust among your audiences. You may spend $500 upfront, but thereafter, high-value content will continue delivering results free-of-cost.
According to Tomasz Tunguz, this phenomenon is called the compounding or multiplying returns of content marketing. Upon creating a value-added piece of content, you can get results on the first day. More so, over time, the content gets distributed through social media platforms, newsletters, and emails, which results in driving more traffic.
Take the example of a piece on how to write a white paper. This was published by Contently way back in the year 2012 when the company had 5 people working from a corner of Google’s Chelsea Market office. For the past 8 years, this content has generated 3000 pageviews every month and has led to a large number of leads and subscribers. To get similar results from a search ad on the same topic, you might end up spending millions of dollars.
For timely content too, this dynamic stands true. Though the long-term returns start diminishing quickly when pitted against evergreen content, the preliminary traffic spike is often large, and you will witness compounding returns as time goes by. This has been seen with Facebook algorithms through the years – a huge initial big spike, followed by a smaller long-term tail because the content is shared among browsers.
Content marketing is one of the smartest investments to make now: Here’s why!
Some reasons for this are listed below.
The demand for value-driven content continues to grow
The audience is thirsting for helpful content. This has to do with the new challenges that people are undergoing in the form of working remotely, attending virtual conferences, and communicating with others sensitively.
Consequently, your audiences want new answers too. Under financial services, people are seeking financial advice. In the field of telemedicine, people want answers regarding the healthcare systems and providers. Similarly, in B2B services, you can work with your partners and come up with innovative ways of working.
The solution lies in doubling down content and not cutting it completely.
Some people also want content that is not related to the Covid-19 pandemic. They want to make the time that they spend online productive. Using content, you can teach them new skills, or entertain them, or give tips on how to be mentally and physically fit.
An analytics forum, Nudge assesses the performance of branded content on web-based platforms. The company found that the attention on content has risen to over 35% in the past 4 weeks when compared to the same time period last year. More traffic is being recorded on finance, business, and education pages. Also, Comscore has witnessed a big increase in traffic across devices.
This calls for marketing professionals to rise to the challenge. They must work as per the mantra: Be honest and helpful and not opportunistic.
Reassign event marketing and paid media budgets to content
In marketing budgets, the top two line items are events and paid media; both of which have been put on hold for now. Plus, with more people adopting a wait-and-watch approach on purchases spanning several sectors, advertisers have decided to trim their spending on media platforms.
They are being logical and shifting those funds to developing good-quality content, with the aim of building relationships and increasing leads. After the economy recovers, they can capitalize on the connections and trust that have been garnered.
The compounding returns of content denote that your investment will continue to show results over time.
Content drives virtual events
Owing to the cancellation of in-person events, brands are veering towards virtual discussions. With the focus shifting to the screen, the importance of strong content only seems to be growing.
The well-performing content displayed on your blog or social media platforms is translatable to virtual events. This tactic has worked for many marketers.
If you’re intending to conduct virtual events in the upcoming months, you may find it easier to pull from a reservoir of timely content. With a robust foundation of different types of content (including video, research, and written formats), you can create virtual events speedily.
Content and bonding
Henk Campher of Hootsuite wrote a piece that mentioned the best thing a brand can do as of now is “do good or make people feel good”.
With several of us sitting in isolation, we are looking to connect much more. Now, as humans, we feel most connected with a good story.
We are interested in stories about the good that people are doing. The breaking news report coverage by GE Report also spoke about the same and how cheering stories are helping people to win the fight against the raging pandemic. Else, they can relate a heartwarming story to make people feel good.
With all of us feeling the need for a sense of duty and purpose, the best thing we can do is to narrate good stories to each other.Last modified: October 15, 2020