Does Your Startup Have A Profitable Content Marketing Strategy?Dec 16
Do you, like most other CEOs, consider Content Marketing as a Cost Center with money, time and effort being spent on various Online Marketing Campaigns for your Startup. Do you face the same situation which every other CEO faces when the she asks the Marketing team on what is the “Return on Investment” (ROI) associated with a specific online marketing campaign? Usually the answer by the Sales and Marketing team is that it is very challenging to associate specific sales revenue to specific marketing activities.
For Online marketing activities, whether it is Search Engine Optimization (SEO), Pay per Click (PPC) or Inbound marketing, the challenge has always been to associate specific leads to specific customer acquisition. Other traditional forms of marketing such as Advertisement face the same dilemma. This is true whether we consider advertisement in print media or television or various forms of online ads. Event marketing is another expensive technique for the marketer. In this case, the leads generated are captured and can lead to defined sales. However, the ROI on event marketing is generally quite prohibitive. Thus, marketing techniques are considered more suitable to enhance brand awareness rather than being attributed to specific sales revenues or even enhancing efficiency to drive down costs. In short, Marketing remains a Cost Center for the CEO.
The Million $$$ (or is it the Billion $$$) question is whether Marketing as a Corporate practice can become a Profit Center on its own?
The answer to this dilemma is simple. Its time for businesses to adopt a Content Marketing Strategy as a business model. Marketing should no longer be defined as a cost center itself, albeit one that ensures increased sales and hence, higher revenues for the overall organization. To make this happen, CEO’s and CMO’s should ensure that Marketing has defined revenue streams associated with it and develop as strategy based on the concept of “Return on Audience” (ROA).
In today’s connected world, the Marketing department can be defined by its reach and engagement with its intended audience i.e. the total number of audience and how engaged they are with the organization’s content. Through online Content building activities, any Marketing department can enhance its reach and ensure the successful engagement of its potential customers through a community platform. The engagement of these potential customers can even be leveraged by monetizing them through various means such as paid subscriptions. This is just one example of Marketing as a Profit Center.
Today, there are many examples of companies using a successful Content Marketing Strategy to build and enhance their Audience. The best example of this is Red Bull which has successfully developed a community building strategy through its online and offline marketing activities. Today, the question that is frequently asked about Red Bull is whether it is a Content company that sells energy drinks or is it an Energy drinks company that has a lot of interesting content?
Your business, Your Startup, Your organization can also successfully build a profitable Content Marketing strategy. Such a strategy will not only enable your company to sell its products or services, it will also make your marketing a Profit Center. This cannot happen by just posting on social media or participating in another tradeshow or starting a new blog. The only way to enable such a success is to understand the Paradigm shift in Marketing that is currently taking place and develop a long-term, focussed and goal driven Content Marketing Strategy.
Let’s Grow your Startup into a Billion $$$ Global Enterprise
For success strategies and advice on your Startup growth strategy – including Global Branding, Sales, Content Marketing Strategy, Sales, Community Building and defining a Global Business Model, go to http://startupsgrowglobalguide.com/ .
About AJ Khan
AJ Khan is a member of the International Advisory Board (IAB) of International Initiatives for Creatives Innovators and Entrepreneurs (IICIE). AJ is also a mentor, speaker and consultant on Innovation & Entrepreneurship focused on Startup Growth, Branding and Marketing. AJ wrote “The Global Age of Entrepreneurship” which you can buy at Amazon. If you need help applying Content-driven Growth principles in your company or would like AJ to speak at your event, please contact AJ here or connect with him on LinkedIn.