Why not doing ‘Content Marketing’ could be a risky marketing strategy?

Not doing something could be a well thought out strategy.  But not doing something out of ignorance could be a costly mistake.

“Doing business without advertising is like winking at a girl in the dark. You know what you are doing, but nobody else does.” Steuart Henderson Britt, Marketing Management, and Administrative Action

What is true for advertising may also prove to be true for the content marketing.

Content Marketing is in its nascent stage. (Yet many forward-thinking companies have lapped up the content marketing aggressively.)   Like everything new, it suffers from some misconceptions.

  • Companies do not think it’s for them.
  • Companies think word of mouth is their way of growing business. Content marketing won’t help.
  • Companies think it’s about creating content only about products and services.
  • Companies think creating content is enough.
  • Random content creation is enough. No strategy and no fixed frequency.

A few posers:

  • Imagine the fate of your business where your every competitor is doing advertising and you are not.
  • Imagine you are spending on inviting people to your website (PPC and Adwords), but not prepared to engage with them.
  • Imagine without engaging content why your website visitors will stay on your site?
  • Who would be interested in website content which is about your offerings only? (Select. end of the buyers’ journey visitors.)
  • Imagine how your business would be affected if your competitor is creating engaging and valuable content.
  • Imagine how your business would be benefited if you create engaging, valuable content.  

Handpicked related content: Why is your Digital Marketing not effective?

Content Marketing – An Example:

Citi Bank is the leader in the banking space. Their new content strategy is a lesson for every company – small, medium, and big.

Their goal of content creation is: “Deliver a customer-driven content experience that energizes and sparks action during the big and small moments that matter most.”

There is nothing about their products and services in their content goal statement.

“It’s easy to talk about messages you want to share, but make sure what you’re creating is things people want to hear about.” Jenn Eldin, SVP, Global Head of Content, Citi

It is about the people i.e. your target audience. Their interest is the focus, not your (sales and marketing) message.

Their Life and money blog which is their content platform is creating content about music, travel culture, well-being and personal development.

What can you learn from Citi Bank’s content marketing initiatives?

  • Content Marketing is important and is worth your time and investments.
  • Content Marketing needs strategy and consistency.
  • Content is not about your products and services, but it is about what your target audience is interested in. (Many companies find it difficult to digest this fact. They create content only about their product and services.)

For the word of mouth dependent companies, getting word of mouth is difficult as every customer is not your advocate. You will have to wait till your customer does word of mouth for you.  After getting word of mouth recommendation, often, people visit the website and read a few reviews.

In the online world, competition is just a click away. Therefore, when a word of mouth referrer visits your website, your site should offer value. In case the competitor’s site offers better and valuable content, excellent customer reviews, chances are the lead may switch.

 “88% of people trust online reviews written by other consumers as much as they trust recommendations from personal contacts. “[Bright Local]

Word of mouth takes you ahead of the competition, but in the last mile evaluation business with better content and better customer reviews wins.

Handpicked related content: Content Marketing Upsurge – The blog post for every CMO

Win-Win:

Content marketing is a win-win proposition. It helps the brand and helps the target audience. Citi Bank creating only product and service-centric content perhaps could help the bank, but not the target audience.

Customer-centric content helps customers /target audience and it also helps the bank. The bank becomes visible for interesting things.

Be it brand awareness or thought leadership or lead generation or lead conversion or better customer experience, content-driven content marketing is relevant.

Ignoring content marketing could prove to be a costly mistake because others have already started. You can create Blue Ocean by creating awesome content. Very few companies have reached that stage.

“Great content is the best sales tool in the world.”Marcus Sheridan

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