Content marketing is a crucial channel for many businesses, with 88% of B2B teams conducting a content strategy. This approach is prevalent and continues to rise.
Your customers spend an average of 3-5 pieces of content before they contact your sales team.
This approach’s valuable assets sharpen product value throughout the pipeline for increased average order value and prolonged customer engagement.
While there’s little doubt the need for content marketing grows, and the number of teams investing in the approach is also on the rise (0% of businesses conducting content marketing plan to cut all spending in this area), some worrying facts have recently been unearthed.
28% of businesses are uncertain how much they currently spend on content marketing, and only 64% of teams have outlined an official budget for their content marketing strategy.
Why is it essential to invest in the creation of Quality Content?
Prospects leads and customers do not search the web at random. They all have precise requirements, pain points, and intentions, and they’re looking for answers. Your content requires resonating, training, and enforcing web searchers to visit your website and later engage with your company (white paper download, contact request, or even a make purchase.
High-quality content is crucial to inbound activities that 55% of B2B marketers indicate blog posting as a top priority, and 85% say lead generation is the most critical content marketing goal.
Remember, you need to recognize your audience to understand the necessary assets for talking to B2B or B2C audience.
Let’s point out the importance of quality content creation:
- 73% of B2B marketers create content to educate in instead of sale
- 47% of customers view 3 to 5 content pieces before engaging with the sales team
- Qualitative content marketing generates 3X more leads than paid campaigns ads
- Content marketers expanded annual market budget spend on content creation by an average of 56% over the past year
- 67% of B2B marketers are remarkably committed to content marketing
So keep in mind that:
- The vast majority of B2B marketers create high-quality content to achieve higher online visibility, conversion possibilities, and sales growth.
- Content marketing is vital to nurture subscribers/audiences/leads successfully.
- Content marketing and technology tools are not exclusive. The most thriving B2B inbound marketers always use analytic tools, marketing automation, and workflow/editorial calendaring.
Now that we know the importance, it’s time to set up a content creation budget.
Whether you’re just getting started or you’re researching to get the most out of your efforts, most organizations agree that focusing on unique content is the best way to get noticed online and earn more customers.
To understand how much you need to spend to reach your traffic and lead goals, you need to examine some specific factors described following:
1. What content do you have already?
You may have lots of established sources, a few or none. That is what indicates the amount of effort and budget you’ll need to put behind content marketing in the initial stages. A broad library of your content may require only statistics or minor edits before publishing, saving time and money.
2. May I repurpose the content that I have already?
The advantage of existing content is that it’s available to you in its original format and can be re-used in an alternative way to build a new audience or extend your audience reach. There are also chances to optimize and restructure existing content to maximize SEO value.
The more ways you can amplify your content, the more faraway you can make your annual marketing budget stretch.
3. What are the best-performing content formats?
Keep in mind that the original content is relevant and essential; how you use it depends on your preference. More precisely, it has to do with what resonates best with your audiences and where they stand in the Buyer’s Journey.
4. What content challenges will I face?
Many companies will state that creating engaging content is their greatest challenge. More experienced companies might have different issues, like tracking content’s ROI or sticking to a publishing schedule.
Whatever the situation is, look at your objectives for the coming period and think about how you can address your biggest challenges.
For example, if your most serious difficulty is not having sufficient time to blog, but you’re going to need about 24 more blog posts to catch your target for more leads and visits, how can you make that possible?
Will you need to add another content marketer to the team, or do you need help from a freelancer?
Perhaps you have time for 24 more blog posts by changing your marketing strategies to free up more content creation time.
If you have organizational or tracking difficulties, you need to find software programs to help and work them into the budget.
You need to understand that if most companies in your industry have been online and producing content for quite some time, you’ll need to develop a higher content marketing budget than you would usually have an influence.
If your competitors have been more hesitant to adopt, you can start with a more conservative budget and spend more time understanding what works best instead of hitting out tons of content.
You need to carefully examine your annual content marketing budget as it helps meet your benchmarks and stay profitable.
Last but not least, we have gathered some concepts for extending your creation budget – and stretching your reach.
It’s essential to look for capabilities in the top spots – and not set about cutting costs arbitrarily. Recall that the best-performing companies didn’t achieve outstanding results by cutting their creative agencies’ budgets – or by appointing a more extensive catalog of agencies so that they could beat their prices down.
They stayed focused on creating better in-house creative processes and workflows and leveraging technology and systems to help.
- Part of the advantage of such an approach is its ability to keep a close eye on the equilibrium between working and non-working spend. If you can track something, you can fix it. Tracking the proportion of your spending that goes towards promoting and distributing content will give you an early notification if production costs are increasing – and help to ensure your strategy is on course for a positive ROI.
- Just as crucial is developing a balanced content mix; incorporating user-generated content, for example, can help to stretch your non-working budget and show authenticity.
- Making essence, proficient content open in various forms, such as videos or infographics, has a massive role in improving efficiency. You get maximum value from any significant piece of content that you invest in, providing you with several months’ worth of content to distribute rather than an asset for just one campaign.
- Optimizing your approach to content distribution is just as crucial as composing that content more efficiently.
Taking all we have already shared with you in content creation importance, keep in mind that you need to：
- Understand your target audience and cultivate the assets to reach them in the most effective way
- It is vital to research, create and follow a content framework that drives your business goals
- Analyze and conclude a content distribution strategy that meets your goals needs.
- Understand the resources that you need to allocate
- Use the appropriate tools to create unique content that you will have the opportunity to repurpose
(sources: leadforensics, contentmarketinginstitute)