If you have been reading this blog for a while, you likely know that I’m generally a strong proponent of the value of business blogging (particularly for small businesses). I’ve been advocating the need for small businesses to start blogs as an important part of their Internet Marketing strategy for a while now. So, why the controversial title for this article? Simple: If we’re going to try and rationalize an investment of time, energy and money by attaching an ROI (return on investment) to blogging, we need to be a bit diligent and thoughtful about how we do so.
The article was sparked in part by an article penned by Charlene Li of Forrester who wrote on the topic of “ ROI Of Blogging ”. As you might suspect, the article (and the associated paper), discusses how to measure the return on investment (ROI) for a blog – and more specifically, a business blog. Though I have not purchased the paper (it talks too much about big businesses), the article itself has a useful framework for looking at this analytically.
Astute readers will also notice that I am not stating in this article’s title that business blogging doesn’t have an ROI – but just that an ROI is not guaranteed. Also, my apologies for the acronym ROBBING (I just couldn’t come up with anything better). I’m not suggesting that business bloggers are robbing anyone of anything. All in good jest (and for some percentage of you, the word probably got your attention, thereby increasing the ROI of this article).
In any case, here are some of my thoughts on about how to improve your chances of getting a return on investment for your business blogging efforts.
Improving The Return On Investment For Your Business Blog
1. Launching Is Not Enough: I think too many businesses think that they can simply sign up for a Blogger account, write an article, and call it a day. This is what I would call the “Look Ma!, I’m Blogging!” phenomenon. Nothing against Blogger. It’s just that if you’re actually looking to create a measurable return, it takes more than that. Stated differently, to get an “R” (i.e. Return) you have to “I” (that is Invest). I have an uncanny knack for the stating the obvious.
2. If A Blogger Types In The
3. Buyers, Back-links and Brand-Building: These are the three primary areas of “return” I think businesses should strive for when writing their blog. I even put them in descending priority order even though the alliteration sounded better with a different order. You’re welcome.
a) Buyers: First (and foremost) you should be looking to find more buyers for whatever it is that you are offering. This is the best return you can hope for. Of course, you can’t expect every visitor to your blog to whip out their credit cards (or call one of your sales people), but you can increase the likelihood that this will occur. This is done by focusing your content (and your promotional efforts for the content) on the types of visitors that are likely to become clients.
b) Back-Links: If you can’t close a customer, you want back-links. The world of search engine optimization (SEO) is driven by back-links. The more people you can get to your blog articles, the more weighting you will have in the search engines, and the more relevant people will “find” you when doing a search. In fact, you can help test this theory by linking to this article with the words “business blogging” in the anchor text. (smile).
c) Brand: Finally, if you can’t get a buyer or a back-link, you can at least build your “brand”. Although you will likely never have a powerful brand like Coke, Nike or Apple – you can certainly benefit from increased visibility of your business. Readers of your blog will (hopefully) be left with a positive impression of you, and your company and this could help with future interactions with that individual (and perhaps then, they will become a buyer or give you a back-link).
4. Measure Something Meaningful: Lots of business bloggers are diligent about tracking things like their daily traffic, referral sources and other common metrics available through most web analytics tools. Though all of this is good, it’s not enough – and not nearly as meaningful as the real stuff. For a more dynamic explanation of this, I encourage you to watch a video interview of Brian Halligan (my co-founder at HubSpot). The video is titled “ Defining ROI On Business Blogs ”. For further reading, I’d also recommend Seth Godin’s article “ High Resolution Mistakes ”
5. Analyze and Adjust: Simply measuring how your blog is doing in ways that are meaningful is not going far enough. You need to do something about it . You have to watch what works, and what doesn’t. Do more of what works, and less of what doesn’t. For example, one thing I’ve learned from writing for two business blogs is that a majority of my readership seems to appreciate my casual, informal style.
So, my points here are not particularly complicated. My message is simple: To really get value out of your business blogging efforts, you need to make sure that you are investing sufficient time into the process, measuring what matters and doing something about it.