Yesterday I discussed putting a value on marketing initiatives, and used a regular technical advice email as an example. With some random figures, we saw that it can be straightforward to demonstrate a business case for such a project.
Once it’s been launched, you could just leave it as a passive project. But you don’t have to. In our email example, if you’ve worked out that 5% of subscribers become customers, and that a customer has an average lifetime value of £10,000, then each new subscriber is worth £500. Once you know that, you can look at promotions to grow the subscriber base which offer a positive return on investment figure.
An obvious method would be payment-by-results advertising for your email (such as Google AdWords). If you can get clicks at £2 each, and 10% of these sign up, you’re looking at £20 to get a subscriber worth £500. Easy.
Alternatively, you could look at offline methods of getting subscribers. A telesales operation costing £25/hour would only need to find one new subscriber every 10 hours to produce a 100% return on investment.
All these figures are completely theoretical, and your own calculations might not have anything like the same outcome. Things may be wildly different in your market sector. But you can see how this type of content marketing works, and how it might be much easier to justify than pure old-school ‘outbound marketing’.