5 Reasons Why Great Content Is Worth Real Money
As an attorney who wants to grow your practice and bring in new business, you know (at least vaguely) that you need to generate powerful marketing content to spur prospects to action. But is content really that critical to your bottom line? Is great content a “must have” or a “nice to have” asset? How can you measure the success or failure of a content venture?
To determine when and how to leverage content assets, you need to use both artistic intuition and a scientific mindset. Like any marketing investment, the strategy carries risks and rewards. However, unlike other strategies, content-based marketing has three fundamental advantages:
- Great content can micro-target your A and B clients. When you do radio, TV or other multi-media marketing, you broadcast out to a wide audience, many of whom do not remotely qualify as prospects; thus, you “waste” a large percentage of your effort. When you market with content (effectively), however, you can call out to your most lucrative potential clients, almost as if you’re using a dog whistle.
- Great content can last a long time. You can write an ebook or white paper today and still use that content four or five years from now to reel in new clients. Other forms of marketing just don’t have that staying power.
- Great content can educate prospects into becoming clients. The marketing/sales process should be a courtship. When your content engages prospects, it can woo them — slowly, appropriately, and deliberately.
The Financial Value of Great Content
While the true value of great content often depends on individual circumstances related to your audience, market, and firm, here are five reasons to invest in high quality content:
1. Love at first sight. Why do marketers believe so much in the power of books, magazines,newspapers, blogs and websites to win and convert leads? Because fantastic content can spark love at first sight. What does that mean? The right words at the right time — conveyed to the right audience — can convince, entice, and persuade like nothing else. If you can produce and disseminate high quality content, you can get readers to fall in love with your perspective and start to know, like and trust your legal business.
2. Supplemental income. When you produce great content, everyone notices. That includes advertisers. If you can attract enough of a following and sustain high levels of viewership, advertisers may start flocking to you, and you can develop other types of business partnerships and joint ventures to leverage to generate more referrals and build your business.
3. Personalized brand recognition. According to John Siracusa, President and CEO of mOSa eBank Marketing Services, “When customers love your brand, they will respond much better to advertisements.” What’s one of the most effective tools to getting them to love your brand? Per Siracusa: “A solid content marketing strategy helps increase the conversion rates in your traditional marketing efforts.”
4. Hone your marketing message. A famous adage from the early 20th century goes: “how do I know what I think until I see what I say?” When you commit your ideas to paper (even virtual paper), you clarify them and help bring them into greater focus. The marketing messages that you create can inform your strategy and vice versa, sparking a virtuous cycle. You can also see how prospects (and others) react to your content and revise it, along with the strategy that stimulated the ideas, accordingly.
5. Thought leadership. By consistently producing high quality content and putting it in a place where readers can easily access it, you position yourself and your firm as a thought leader. You generate respect from peers, potential business relationships, and love from the search engines and social media.
What kind of content do you use to educate your clients? Do you find coming up with the right type a challenge? Share your comments below.