The phrase coined by Bill Gates, "Content is King" still holds true.
Of the factors mentioned, Customer Acquisition Cost is a key indicator of success for any content marketing strategy.
What is Customer Acquisition Cost (CAC)?
Customer Acquisition Cost (CAC) or User Acquisition Cost is the amount spent by businesses to make a potential customer purchase a product or solution.
A simple way to calculate CAC is by dividing Total Sales and Marketing Costs by Total Number of New Customers Acquired.
That being said, you may be thinking...what is an optimal customer acquisition cost?
Companies should decide on their target CAC based on their Customer Lifetime Value.
Customer Lifetime Value (CLV) is the prediction of the net profit attributed to the entire future relationship with a customer.
However, the aim should always be to lower your CAC to improve your ROI.
When developing your content marketing strategy, be mindful of which types of content you are creating and the potential costs incurred by creating that content.
Here are the 7 types of content with the lowest user acquisition costs:
Blogs are the easiest forms of content you can create when you know your business and industry well.
Even though they can be simple to create, they educate your customers and help drive traffic to your website.
Start by understanding the types of information your target audience is searching for at different stages of the customer journey. Answer the most commonly asked questions at these stages through your blog posts.
Tip: Create editorial calendars and update them with the latest industry trends.
Once created, your blog posts will prove to be a continuous source of leads and conversions, as long as the content remains highly informative and relevant.
Blogs with effective call to actions can help your business generate high quality leads.
The cost of content creation is the only cost associated with blogging, therefore being a cost effective method to acquire customers.
In order to lower your CAC even further, use highly relevant keywords to optimize your content.
Case studies are success stories of how other businesses have used your products and solutions and how it has benefited them or helped them achieve success.
They drive potential, like-minded customers to try your product(s) and solution(s).
When potential customers have a particular business problem and are researching ways to solve that problem, case studies which demonstrate how your solution helped them solve that problem can be an effective way to add value to your audience.
Creating a case study can be time consuming, as you have to connect with your customers and get them to agree to participate.
If your client doesn’t approve the use of their logo or brand name you could make a generic case study referring to your client as a leading brand, or you can describe the type of their business.
Having a variety of different case studies adds another layer of credibility to your brand. It is a cost effective way of demonstrating the efficacy of your solution and is an easy way for prospective customers to see the value in your platform.
- 84% of marketers who have used infographics for marketing have found it to be effective (Source).
- Infographics are 30 times more likely to be read than a purely text based article (Source)
Infographics are a great example of visual content that can be effectively used to drive traffic to your website.
When you have informative content creating an infographic is extremely simple.
Infographics with interesting content and appealing design are a sure shot hit among any target audience. By having a call to action at the end of your infographic, generating leads and enabling conversions is easier and more effective.
Tools, Tips and Resources
Tools and resources are an evergreen mechanism to generate leads as potential customers are always seeking them to make their tasks effective and well-organized.
Creating and sharing content focused on relevant tips and tricks will boost your lead generation efforts significantly. Prospective customers are interested in how your solution and brand can add value to their current workflow.
Examples include templates, how-to guides, checklists, other free resources and more. Customers can download these and incorporate them into their workflow, as your brand assists them in achieving the task they set out to complete.
You can also share resources that will educate your target audience when they are seeking information related to your area of expertise.
Do’s and don’ts and product comparison tables can be valuable resources that could change the decision making of the prospect.
For example, if you are a content marketing solution you could design content planner templates, check lists for launching a campaign, resources to create cover images for feature images and so on.
eBooks are highly informative for potential customers who are researching about specific solutions to their business problems. They are comprehensive, in-depth and can be time consuming to create if not planned well.
Tip: Create an eBook combining various forms of content you have previously created.
However, this doesn’t mean that you haphazardly combine chunks of content that are not be relevant to each other.
You need to strategically plan and re-package similar content that will help users.
For example, you may have previously created the following pieces of content:
- 2 blog posts on content marketing;
- 1 infographic outlining various key content marketing statistics
- 5 tips on how to use content marketing effectively
- 3 case studies about how content marketing has effectively generated leads
- 4 customer testimonials about how your solution has powered a teams content marketing efforts
Combining all of this content and packaging it in a single content marketing eBook will prove to be a lead generation magnet.
eBooks can prove to be an efficient tool for generating high quality leads with high conversion rates and low customer acquisition costs.
Many times, eBooks are gated so as to drive users to download a copy.
Whitepapers and User Guides
Whitepapers and user guides are another type of content that contain comprehensive information bundles highlighting your product.
Primarily, whitepapers provide high value to B2B prospects who are interested in learning about the business problem your product solves and the benefit it can bring.
Whitepapers typically breakdown a product offering and give a detailed overview of its features, functionality, benefits to enable potential customers to make well informed purchase decisions.
Customer testimonials help vouch for your products in a relatable and effective way. People like to believe customers of the product over the businesses that sell their own products.
This is exactly why testimonials are more successful in gaining the confidence of potential customers than an ad or different forms of content.
Customer success stories and testimonials are an example of extremely powerful social proof that show that your business is trustworthy, which is why they typically generate conversions.
If you have customers who are influential in your industry be sure to get a testimonial from them.
Potential customers would value the opinion of these influencers while making their buying decisions.
Customer Acquisition Cost is a key metric that can have a material impact on your business.
Reducing this cost in all facets, but especially when thinking about content marketing should always be top of mind.
Invest in creating the cost effective content that will generate leads for your business.