The use of content marketing in business is getting increasingly popular.
New research by the Content Marketing Association revealed those using the communication method spent the majority of their advertising budget on it. Some 19 per cent of funds was invested in the strategy, compared to 15 per cent for events and 14 per cent for TV.
The study also found this trend was likely to continue, as over half of those surveyed (51 per cent) planned on increasing their expenditure on the initiative over the coming year. This is whether their overall marketing budgets increased or not. In addition, 97 per cent of firms which already spend £350,000 on this way of working indicated they would raise this further.
Out of those businesses which do not use the communication method, 25 per cent engaged in direct marketing, while a further 18 per cent carried out TV and print campaigns. Knowledge of content marketing proved to be increasing as well, as 85 per cent of those questioned were aware of the channel.
Businesses questioned by the study stated they believed an effective content marketing strategy would help them engage with their clients more efficiently on a more long-term basis, while allowing them to build knowledge of their brand. However, they were still left undecided on just how effective it was in terms of customer acquisition.
According to those questioned, securing enough budget to carry out the initiative was among the top three challenges facing companies wanting to use content marketing. Other potential constraints were proving its effectiveness to other members of the firm and creating quality material.
Sharon Flaherty, head of content and PR at confused.com, stated: "The current risk is that marketing departments do not have the right skills to practice content marketing properly. Those with backgrounds in journalism are a must-have asset for brands engaging in content."
The survey covered the opinions of 130 marketing professionals over a wide range of sectors, including the retail and financial industries. It was conducted during the final quarter of last year.
Posted by Jon Aspinell on 16th April 2014
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