At a recent event hosted by Livefyre, Neal Mann, digital strategist for News Corp Australia posed a challenging question – would you share the last piece of content that you created? Answering his own question, Neal revealed the single largest challenge facing Australian brands and marketers using content marketing as part of their strategy:
Most people don’t say yes. They don’t. Because they’ve not actually created [content] to engage an audience, they’ve created it to get it out the door … It’s worth highlighting engagement on Facebook and marketing. There’s a big difference between paying for engagement which is kind of the initial stages of what happened with social. Now, if you look at the US brands in particular that are notoriously in news, they’re creating content that’s cool.
The Pepsi Max test drive pranks, for example, saw widespread engagement, with some of the videos – like the one below – delivering over 40 million views (and counting). And the Pepsi YouTube channel has also grown as a branded media channel with over 729,000 subscribers.
https://www.youtube.com/watch?v=Q5mHPo2yDG8
But this kind of content is rarely being produced here in Australia. There is sill a focus on buying engagement rather than producing engaging content – material and media that are worth sharing.
The release of the Content Marketing Institute – ADMA benchmark report for 2015, seems to provide at least some of the answers to why this might be the case. Presenting the findings from over 250 Australian marketers, the report shows:
- Content marketing effectiveness is lagging: Only 29% of marketers consider their companies effective at content marketing – though this extends to 44% where there is a documented content marketing strategy in place
- Marketers need to commit and plan content marketing: Only 37% of the respondents indicated that they have documented content marketing strategies in place. A further 46% indicated that there is an undocumented strategy
- A disconnect between demand generation and marketing: With 60% of marketers indicating that web traffic is a measure of success for content marketing, sales lead quality languishes at 29% with customer renewal rates at 19%.
Interestingly, the report also reveals that 63% of marketers intend to increase their content marketing budget in 2015. And with this in mind there are some key activities that marketers can work immediately:
- Develop and document a content marketing strategy: Unless a strategy is clear in the minds of the marketers, agencies and suppliers – as well as the business management – it’s almost impossible to track effectiveness. For assistance in developing your content marketing strategy, reach out to us here
- Measure and innovate to improve effectiveness: Once you have a strategy, you need to stick to it. Simple frameworks and dashboards can help you measure what works, change what doesn’t and consistently improve over time
- Commit to creating content worth sharing: Almost every business has employees who are also customers. If you can’t encourage your own employees to share your content with their friends, family and business networks, then you need to reassess your creative approach. It’s time to invest in creative rather than paid media.
As Joe Pulizzi, Founder of the Content Marketing Institute says:
There are two critical factors that differentiate effective content marketers over the rest of the pack – having a documented content marketing strategy and following it very closely. Those two things make all the difference.
And with budgets under scrutiny and competition fierce, it may be time to reach out for assistance. After all, isn’t it time that you started making content that you are proud of? You know it is.