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Thursday, August 20, 2020

Multiple Approaches to Developing Value Using a Content Marketing Platform || Content Marketing Part 8

And also data append. They can actually look at the content of that you've consumed through that Academy and University, and use it to optimize their website to give you the better sales opportunities, and the more relevant products that you're interested in based on your content consumption. Customers ROI. They've created increased loyalty. They understand that people who go through the Academy will stay five times as long to their subscribed technology services. 


As well as increased lifetime value. They've seen a 10% increase in the average sales price and loyalty of a customer who goes to the Academy. Why? They're educated. They know what the product offers, they know what this company offers in its full regalia. And also business ROI. 


They've actually started to think about customer events in a regional, and they can actually look at all of those regions and say, you know what? If you target Atlanta you'll get this many because-- of if you target Seattle you get this many, and optimize their location for regional events by looking at their subscriber database.


All of these create value. Look at it another way. This is a conversation I'll often have with a CMO or CEO, and I'll say if you can create an audience, 


Content Marketing


and if you create an audience in your database, what does your database consist of now? Probably, if you're like most organizations, it's a list of email addresses? Maybe we have 5,000, 10,000, 20,000 email addresses. But what if, instead, we had not only just a list of email addresses, but we had first name, last name, address, phone number because they wanted to give it to us because the content was so valuable. 


And I asked somebody, I said, hey, Mr. CEO, can you actually envision yourself creating something so valuable that you'd get that? 

Yes, I can, he said. Great. That means, and let's assume that they don't convert any more regularly than another option or another opportunistic lead that you would get through other materials. In other words, 5% to 10% would be the conversion rate. Let's just assume that it's the same as your conversion rate. That doesn't mean that that other 90% isn't valuable. 


You can get valuable customer research from them, you can test messages, you can do all kinds of things to generate other kinds of value, other than the lead value that they may provide. I might argue that they'd be a better leader, that they might be a more loyal lead, but let's assume that they're not even that. The value we can derive from the other 90% who never convert is huge for our business.


Think of it this way. Johnson and Johnson own BabyCenter.com. They know with the 4 million subscribers they have to BabyCenter, that moms planned the first birthday for their kid when their kid turns seven months old. That is so valuable for their brand managers who are trying to sell things like Tylenol and other kinds of things that they might want to sell. 


They know, by looking at their consumer data, because they've tested it, which message, sleep through the night, sleep tonight, sleep overnight, is actually going to resonate more. They're making better effectiveness on their ad creative by looking at the content consumption that's happening to their content property. And by the way, it's a separate division. As you can see on the screen, they're selling advertising. They don't sell it to competitors, but they're selling advertising to monetize and actually create value, business value for this property while it adds other lines of value to their marketing. This is the power of a content marketing approach, building it a thematic collection of assets.


A software company built an audience. And they, like many of us, we're just doing stuff. They're creating content here. Through the first and second quarters, they created all this content. And then they said, you know what, let's pivot just a little bit. We're going to pivot and create content that thematically aligns to what? 


For them, it was a physical event. And this physical event was going to be something where they could invite people to, so they basically focused all their content to building this event. Then that gave them a couple of lines of data. Really not a lot of campaign value, because it didn't provide that many more leads, but it built all kinds of insight into what kind of event, 


which thought leaders were going to be really resonant, which kinds of sponsors they might want to attract one day, what kinds of attendees would come to this event. So then they had the event, and it was a small little customer event that they had with some thought leaders, and some speakers, and a PowerPoint and all that kind of stuff. And of course, out of that came all kinds of content. Interviews with the thought leaders, interviews with the attendees, case studies, all kinds of content coming out of that event to build toward what? 


The 24/7, 365 days a year resource that is the embodiment of that event. What did that provide? All kinds of campaign value. You missed the event? Well, you might want to sign up for this webinar. You missed the event? Maybe you should get this presentation from this wonderful thought leader. Now are providing wonderful campaigns, also getting additional insight, etc, 

and as we build the content and we start building an editorial plan toward our second year of that event, well guess what? Now we're building business value because this company started to understand that the event was going to be twice as big in the second year. Now they can start to bring in some sponsors to help them offset some of those costs of putting on the event.


So a wonderful, multiple approaches to developing value using a content marketing platform to do so. What if we began with the end in mind? 


We begin with the end in mind. The most amazing resource center, the most emotional story, the most useful tool, a platform with the goal of building or retaining an audience. That is the business case for content marketing


That is your powerful means of reasoning for developing something that's going to add value to your business. So next up, in our next module, is going to be creating the strategic function. Once we've created a business case, now let's make sure that we're making a business case for the function, not just the form. And that will be coming up next.

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