Sales and marketing tactics are the primary instrument for businesses to generate revenue. With that said, during the times, technology has definitely changed, allowing for new methods of marketing. There are now hundreds of applications and social media platforms benefiting greatly from this. This is now the area of digital or content marketing.
So, do the spiking costs of all this content, personalization, marketing technology spend, and global campaigning impact organizations budgets and management teams? It doesn’t seem that way. These social media platforms and applications are finding more ways to better content production and distribution, however at an increased cost. Businesses are not shying from increasing their budgets either. In fact, the Content Marketing Institute’s 2014 Benchmarks, Budgets, and Trends–North America, show’s that 58% of Business-to-Business marketers do plan to increase their content marketing budget in 2014, and this is a growing trend since at least 2011.
Why The Big Shift in Digital Marketing Concepts?
Digital marketing has truly changed in the past 15 years. It is now extremely challenging as everyone is now doing it and customers are no longer just local – it’s a global reach. Digital marketing has also switched from pure Internet marketing tactics to being more mobile friendly. So the banners, side ads, and flash are eliminated and replaced with pure content.
The major social media platforms are Twitter, LinkedIn, and Facebook, with Pinterest, Instagram, and others coming up fast. These companies have billions of dollars of marketing capacity and deliver long-term results for companies. So these platforms, marketing technology companies, and other brands have their hands full with solving the challenge of delivering creative and effective ways of content to consumers. And most businesses are using more than one form of content marketing strategies to engage with their audiences.
What is Included in the Costs of Content Marketing these Days?
Content marketing involves more than putting an exciting blog piece together and posting to Facebook or your website. The total cost of content marketing consists of a team to produce and distribute the content. Many organizations lead their team with a content marketing executive. They are held accountable to strategize, plan, organize, and distribute the content.
You also need the time to find great content to produce. There are long employee hours to account for, especially those who have the experience and skills necessary for some content such as white papers. You’ll find a need for marketers, editors, designers, and writers. Due to the cost of the hours employees put in, some organizations use the help and experience of freelancers.
There is also content management tools needed to help your team stay organized. This is where many applications come into place. Finally, an organization needs the marketing budget to promote their content. Sometimes it’s through press releases, placing on high-traffic sites, or hosting giveaways and contests.
Looking at the Numbers, is the ROI worth It?
To many organizations, yes, the ROI is worth it. First, content marketing is actually cheaper than search marketing. With the effort, companies are finding out they are having greater success with inbound leads than their outbound leads, due to their digital marketing campaigns. They are reaching their consumers and engaging with them.
Those companies that invest more in their content marketing strategies will see more effective results than their peers will. Only a few organizations don’t seeing the results they desire from content marketing. Digital media surely is a way to save organizations money. If planned and executed well, it will drive the traffic to your social media pages and website and increase your leads.
The bottom line is that organizations are going to increase their marketing budget. Not doing so, is opening the doors for failure of their marketing strategies since the future of marketing seems to lie in digital marketing. The numbers do exist according to the Content Marketing Institute. Of those surveyed, 93% of Business-to-Business marketers used content marketing, 42 % consider themselves effective, and 73% of are producing more content than they did just a year ago. It’s much easier to analyze your digital marketing efforts when compared to your printed pieces. You can follow your email and website hits and social media shares. This makes the ROI easily distinguishable, and you can see exactly where your efforts lie.