Step 1- Setting goals and picking KPIs

As with any marketing campaign, the first step in creating a content strategy is to set goals.

Examples of these goals include:

  • Generate leads- attract new prospects
  • Qualify leads- check whether your prospects are likely to make a purchase
  • Nurture existing leads- take prospects through the customer journey
  • Brand awareness- build awareness of your brand and its benefits
  • Retention- build brand loyalty
  • Upsell or cross-sell- encourage existing customers to increase their spend

Of course, these goals must be:

  • Specific- address who, why, where, what and how
  • Measurable- quantifiable based on KPIs (see below)
  • Achievable- realistic given the campaign’s resources
  • Relevant- aligned with the company’s overall goals
  • Time-bound- subject to a deadline

For context, a SMART goal might be to generate 150 inquiries by the end of a six-month campaign at a cost per lead of less than £25.

Key performance indicators

You need to assign key performance indicators (KPIs) to measure your progress against these goals. KPIs broadly fall into two categories: engagement and conversion.

Engagement

  • Longer average time on your site
  • Lower bounce rates (number of pages visited before leaving)
  • Deeper scroll depth (how far down each page a visitor scrolls)
  • Metrics such as likes, shares and email open rates

Conversion

  • Goals achieved e.g. number of visits to a certain page on your site
  • Higher conversion rate (number of visitors taking a specific action)
  • Shorter path to action (number of pages visited prior to action)
  • Cost per lead

Whichever metrics you choose to use, you need to measure them before the campaign starts to provide a benchmark, at regular points during the campaign (such as monthly) to monitor progress and after the campaign ends so you can calculate a return on investment.

To learn more about developing a content strategy for your fintech, email keith@keithmcg.com or call (0044) 7719 700319.