If you’re not investing in content marketing, it might be time to rework your budget. According to new research from IBM and The CMO Club, content generation is the biggest expenditure for the 100 global CMOs surveyed, weighing in at 13% of their total marketing budgets. Advertising is their second-largest expenditure, at 12%, and digital online, digital website and events each get 11% of the total budgets.
Moreover, marketers today are looking to invest in campaigns and content that will generate revenue, rather than just “softer” returns such as engagement and awareness. Fifty-three percent of marketers surveyed said that they spread their budgets across the customer journey (“discover, learn, try, buy, use, advocate”), rather than allocating by channel, ina an effort to generate the most revenue. The CMOs surveyed said that they plan to increase spending across each stage of the customer journey over the next two years by 50%.
Content marketing plays a big role in each stage of the customer journey, says Hannah Egan, a product strategy specialist at IBM Commerce. “With content becoming the largest investment, we’re seeing marketers tap into the importance of offering different content as the buyer moves the various steps of the buyer journey. That relationship with the brand is changing at each step,” she says, and the rise of content marketing reflects that evolution.