A journey of a thousand miles begins with a single step.
When it comes to content marketing, many successful business owners and executives would agree with that ancient Chinese proverb. The fact is, an effective content marketing strategy may start small. However, in the end it can take your company to previously unimaginable places in the realm of growth and profitability.
Perhaps you may wonder: “How exactly does content marketing help a business?” The following information will provide a brief overview of the many benefits that come from implementing a robust content marketing program.
A strong content marketing program that encompasses all aspects of the buyer’s journey (top, middle and bottom of funnel) will inevitably generate more leads. Thoroughness is essential. Quality is non-negotiable.
For example, a study by Forrester Research concluded that a typical B2B prospect will work through 70-90% of the awareness and evaluation stages before contacting a vendor. This illustrates that valuable, comprehensive content will often do much of the heavy lifting in the customer acquisition process before a sales rep even becomes aware of a warm lead.
An increased customer retention rate almost always means increased profitability. A classic Harvard study found that even a 5% increase in customer retention rate can boost profits by 25-95%. How can content marketing contribute to this key endeavor?
Frequent communications with current customers can help bolster your retention rate. A regular newsletter, an online flyer with the latest promotions or even a simple “thank you” message after a purchase all play a role in keeping customers satisfied and loyal. When your content marketing is both acquisition- and retention-oriented, have no doubt about it: Your revenue streams will grow.
For instance, a content library specifically designed for employee research can preemptively solve many customer service issues and lead to a more stress-free work environment. In addition, inviting employees to give their input on content ideas or at least share published content with friends and family members, is an inexpensive but effective way to gain exposure while involving your employees in the initiative.
Nearly 80% of consumers would rather get to know your company through articles, rather than ads, per the book M:Marketing. This figure, coupled with the power of SEO-driven content to capture organic search traffic (a 91.5% traffic share for Google’s first page), gives a glimpse into how a well-designed content marketing initiative can expand your customer base while simultaneously attracting high-value prospects.
If you want to position yourself as an industry leader, then a steady stream of insightful, actionable content is a must. Over time, your high quality content marketing program will cement your reputation as a subject matter expert – and customers want to deal with experts.
If you have a content marketing program, or are planning one, download our ebook: 100 mistakes businesses make when starting, optimizing and scaling content marketing programs. Learn from the mistakes of hundreds of other companies. 100 mistakes walks you through common and uncommon challenges that they faced with their content marketing programs.
Content marketing provides numerous benefits for your business. If you don’t already have a content marketing strategy in place, start today. Take the first step. Reach out to Tempesta Media to learn more.