Have you ever asked yourself how much your marketing content is worth? The ebooks you create. The infographics you design. The webinars you host. How much are they worth? How do you value your marketing content?
You need to know, because contrary to your beliefs, they have value and your ability to apply the appropriate value matters.
The value of your marketing content isn’t measured in terms of money, but rather by how much information your prospects are willing to give up. Therefore you need to value marketing content based on its usefulness, currency and unique information it is offering.
The information you request for a download is the price. Understanding how to price your content is the key to maximizing your content strategy.
To simplify this a bit more, if your submission forms are asking for lots of required information, names, phone numbers, company size, title, roles, etc. then that’s a high price for the content. It may be worth it, but know that it is expensive.
On the flip side, if you’re only asking for an email, that’s cheap.
YOUR CONTENT IS NOT FREE – let’s be clear, if you’re asking for any information as a condition of access to your content, your content is not free. The price is the information. The only time content is free, is when prospects can quickly click a button and get it without inputting any information.
Don’t Price too High
Now that we understand our content is not free;
Rule #1 is; Don’t price your content too high.
Like the pricing of anything else, value is key. Make sure that you know what you’re asking for is worth what your offering. If you’re offering an infographic on general trends in the industry, asking for a lot of identifying personal and corporate information, may be too expensive and impede the volume of downloads
Too often companies over charge for their content, requesting lots of information for content that’s not worth it.
Don’t over charge for your content – value content marketing appropriately.
Rule #2 is; Don’t Price too low
Like over charging for content, you can under-charge for content. Undercharging for content happens when you don’t ask for enough information for something that is highly valuable. Maybe you’ve completed a robust assessment of the state of a market that can help your prospects plan for their upcoming year. Only asking for an email is pricing it too low. You don’t want to give away such a valuable piece of content.
Pricing killer content too low can overwhelm your Sales Development Rep’s, marketing and more with unqualified, unidentified submissions that have little to no lead or opportunity value.
The key is to price right.
Understanding the value of your marketing content and pricing accordingly is key. It’s not enough to just create content and just throw it out there for everyone at one price fits all.
Consider offering content with varying price points. Create some truly free content, referring to more expensive content tucked inside. Create inexpensive content that requires little more than a first name and an email address. Create higher value content that requires identifying information like size of an organization, role, budget, etc. Finally, create expensive content. Expensive content is rich in data, insight, and value. Charge a lot for this content, require insights, identifying information, and even agreements to meet or a scheduled appointment.
When we evaluate content through the lens of value and price, it changes the game. It requires we include price into the conversation. If we’re not getting the downloads or form submissions we want, is it the content or the price? We can no longer simply assume it was bad content, thus poor submissions or valuable content because of tons of form submissions. Price plays a role in conversions and getting the price right matters.
- Create content for all prices points, (free, cheap, moderate, expensive)
- Be sure the value of the content is consistent with the price
- Don’t over charge or under charge
- Use varying priced content to drive interest to more expensive content
- Continually evaluate your content to make sure the price is still fair
Old out of date content may need to go on sale and only require an email.