“Marketing is not the art of finding clever ways to dispose of what you make. It is the art of creating genuine customer value.” ― Philip Kotler
What is the best way to spend your marketing dollar?
The answer you receive to this question will vary widely based on who you ask. But one thing is for sure, people mention the value that benefits them.
A direct mail company will convince you that everyone reads junk mail – and you’re just the exception. Television stations will say that only you use the restroom during commercial breaks. And of course, Facebook will preach that their users enjoy interacting with brands as much as they do chatting with friends.
Although there is value in using a variety of marketing methods, remember this one thing: people are very good at tuning out uninteresting media. With the decline in advertising revenue, companies have turned to content marketing as a solution. In fact, 64% of companies with a documented content strategy have a dedicated content marketing budget.
If you want to stand out in a world filled with noise, follow the advice of Philip Kotler – provide value to your customers.
One of the best, and least expensive, ways to provide customer value is through content marketing. Here are five reasons why content marketing is superior to most traditional forms of advertising.
Content Marketing Shows Potential Customers That You Care About Them, Not Just Their Money
According to Gallup, most people have very little trust in advertising professionals.
Car salesmen and congressmen are the only two Gallup categories that scored lower in trust than advertising professionals.
Our distaste for advertisers can be summed up with the show Mad Men’s Don Draper – who once said, “What you call love was invented by guys like me… to sell nylons”.
Consumers aren’t stupid. When someone tries to sell us on something we don’t want, we recognize it – even if we make the purchase anyway.
This is where content marketing, when done correctly, can set a business apart.
When a business focuses on providing content that educates, informs, and entertains potential customers, the customers develop trust in the company. Over time, this trust can lead people to become dedicated customers and advocates of the brand.
Content Marketing Helps You Maintain Relationships with Your Customers
Research by Bain and Company reveals that increasing your customer retention by just 5% can increase revenue by 95%.
Many businesses focus too much on bringing in new clients, rather than keeping their current customers happy.
This is expensive for two reasons. First, you are missing out on future sales from a client. And second, a happy customer can be the best form of marketing.
Developing exceptional content for your website is a great way to keep in touch with customers. Not only can you provide them with valuable content, but you can also encourage them to comment and engage with your brand.
Content Marketing Establishes You as an Expert in Your Field
Most of us end up in business because we love what we do. In fact, if you are running a business that you hate, then you may as well go and get a regular job – it will probably pay better.
If you believe in what your company does, then one of the best ways to grow your business is by becoming an expert in your field.
While many people pay thousands of dollars to end up on TV and radio, you’ll discover that the best experts actually get paid to talk about their brand and what they do.
By developing content, people will see your company as a leader in the field. This may lead to interviews, quotes in prominent trade magazines, or even speaking engagements.
Content Marketing Is Cheaper Than Traditional Advertising
Good content marketing isn’t cheap. The best blog writers charge as much as $300 for 1000 words of content.
Many companies look at this and decide it’s not worth it. They would rather spend that $300 on Google advertisements.
But here’s the problem. Depending on your niche, Google Adwords may gain you 100 clicks – but then that money is gone.
Meanwhile, that article can be shared on social media, promoted through blogging networks, and ultimately help your company rank at the top of Google search for free.
In short, traditional advertising is an expense; good content marketing is an investment.
Content Marketing Educates Your Employees
Not only can great content assist you in educating your customers, but it can help keep your employees informed as well.
When your team knows what’s trending in your industry, they can be more helpful to your customers – which leads to more sales. Furthermore, an educated team is generally more competitive and more engaged with their work.
Although most businesses hire professionals to research and write their content, it is still possible to involve employees in the researching process. Meanwhile, if an employee shows a particular knack for writing on a subject – providing a bonus for published content is a great way to increase employee morale.
Content marketing is an inexpensive investment that can lead to long-term profits.
When implemented correctly, a content marketing strategy can bring in new clients, keep current customers happy, set you apart as a thought leader, save money, and educate your employees.
Content marketing is an exceptional way to promote your business while providing value to society.
Let us know: Do you currently use content marketing in your business? Do you think content marketing takes the place of traditional advertising, supplements it, or is simply a waste of time?