Measuring ROI of Industrial Content Marketing is Difficult

Manufacturers, distributors and engineering companies are finding it difficult to accurately measure the ROI of their industrial content marketing efforts. Only 44% of manufacturing content marketers report their organization measures content marketing ROI. (Source: Manufacturing Content Marketing 2019: Benchmarks, Budgets, and Trends—Content Marketing Institute/MarketingProfs and sponsored by IEEE GlobalSpec).

Measuring ROI of industrial content marketing

While the number of leads generated by industrial content marketing is still a very important measure, it is not enough. Marketing is now held accountable for a wider range of metrics compared to previous years. Here’s a chart from the 2018 Budget Trends in Industrial & Technology Marketing report published by engineering.com.

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Industrial Content Marketing: Awareness to Conversion Takes Time and Hard Work

Industrial content marketing success for most manufacturers and other industrial companies is usually measured  by an increase in the number of RFQs/RFPs. Arguments about quality vs. quantity tend to fall on deaf ears because these companies with long sales cycles need a certain volume of quotes to keep their pipelines full and active.

Often, their stated goal for content marketing is “We want to increase awareness among engineers and industrial buyers and generate new contacts.” You’ve probably heard the same or something similar if you are part of an in-house marketing department or an outside industrial marketing consultant like me.

On the surface, it looks like a well-defined marketing goal but if you look closely, you’ll see that it takes many interim steps between raising awareness and converting traffic into qualified leads. It is this lack of understanding of what it takes to go from point A to point B that causes owners and decision makers at these industrial companies to get frustrated from the lack of quick results and shocked by the price tag.

Growing pains in industrial content marketing

According to Engineering360’s online survey addressing the marketing trends, challenges and expenditures within the engineering, technical, manufacturing and industrial companies, thirty-nine percent were just getting started with content marketing and only 12 percent can show how content marketing contributes to sales.

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No Digital Marketing for Manufacturers = Marketing in the Past

Are you marketing in the past without digital marketing for manufacturers?Most manufacturers including precision CNC machine shops and fabricators have difficulty understanding the true value of digital marketing for manufacturers. Some that have implemented it, struggle to produce tangible results, meaning a boost in sales that they can attribute to marketing.

The need for a robust online presence (Website and customer-centric content marketing) is driven by your customer’s behavior and not because marketing consultants are telling you to do so. Today’s industrial buyers are in self-serve and self-select mode, making them virtually invisible and hard to reach. They don’t need or want to talk to your sales people to get product information. Your buyers will engage with your sales team only when they are ready. Hounding them with cold calls or unwanted spammy emails is not going to make them choose you over the competition.

The lack of buy-in for digital marketing is a two-fold problem as I see it with my industrial clients. The first issue is a mindset at the top and the second part is one of incorrect attribution.

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How Industrial Companies are Stuck on SEO for Content Marketing Strategy

I find too many manufacturers and industrial distributors basing their entire content marketing strategy with one goal in mind – getting found in Google. In other words, the entire focus is on Search Engine Optimization (SEO).

“What’s wrong with that?” you ask. After all, your content is useless unless people can find your website when they search.

Focusing your content marketing strategy only on SEO or top of the funnel traffic has many drawbacks. If I had to summarize it in one sentence it would be, search engines are not your target, human visitors are.

People won’t automagically convert into qualified leads just because they found your industrial website in Google or other major search engines. That’s why your industrial content marketing strategy must be based on the entire sales funnel and not just ToFU (Top of Funnel) activities. Traffic by itself means zilch if you can’t convert it into opportunities.

Technical SEO vs content SEO

Right or wrong, SEO has an aura of mystery about it. This in turn turns off many site owners and marketers. While it is true there are certain aspects of SEO that are technical, it is only a small part of optimizing content.

Thanks to the recent algorithm updates by Google, current best practices in organic SEO go far beyond keyword matching, Meta tags and keyword density. The new Google is smart enough to understand and interpret search intent.

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Planning Your Industrial Marketing Strategy for 2015

industrial marketing strategyI hope you have already started planning your industrial marketing strategy for 2015. You may be wondering why you need to spend the time and effort in creating an industrial marketing strategy when you already know the problem – not enough quality leads generated from your current website.

It would be easy to dive right into redesigning your current industrial website. That however could be a mistake because the lack of leads is the symptom you are feeling, the underlying cause of the problem may be something completely different. You need to first identify the root cause and then come up a with plan of action to solve the problem. That plan of action is what I’m referring to as your industrial marketing strategy.

Importance of a formal industrial marketing strategy

Let’s take a step back and see why formulating an industrial marketing strategy is so important. I’m sure by now you have read or heard enough about how content marketing is the best strategy for generating more high quality leads at a lower cost per lead. So making content the cornerstone of your industrial marketing strategy is vital.

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How Industrial Content Marketing Builds Stronger Relationships Based on Trust

how industrial content marketing builds stronger relationships absed on trustStrong relationships have always been the cornerstone in complex industrial sales. That hasn’t changed and won’t change in the foreseeable future. How we start and build new business relationships have changed in today’s digital age.

Ask any successful salesperson and s/he will tell you that trust is the key to building strong and sustainable relationships. They’ll also tell you that trust needs to be earned. You can’t earn someone’s trust if all you do is talk about yourself and turn a deaf ear to the concerns of your audience.

Industrial content marketing when done right will help you earn trust by putting the focus on your customers’ challenges and issues instead of talking about your company, its products and services.

Note how I qualified my statement by saying “when done right.” That is the crux of the problem as I see it with content marketing done by most manufacturers, distributors and engineering companies.

It starts with a lack of clear understanding of what content marketing is and how it can drive the sales process. Most if not all my new client engagements start with answering the “what and why” questions about content marketing. And of course they all want to know how it will increase their sales and how quickly they can see results.

Here are some common content marketing myths that I’ve encountered in my daily conversations with industrial companies.

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