Content marketing budgets are higher than ever and on the rise, according to the 2011 Spending Study from the Custom Content Council. The report indicates that the average business’ budget for custom content was $1.9 million this year, and investment with content marketing agencies will grow in 2012.
The data reflects insights from approximately 200 companies across industries. As Folio magazine reports, more than one-quarter of marketing budgets are currently devoted to content (26 percent). The value of branded content is rising in marketers’ estimations: 71 percent say custom content marketing is more effective than magazine advertising, 69 percent say it’s better than PR or direct mail marketing and 62 percent cite it as more effective than television advertising
Thirty percent of marketers say their content marketing budgets will rise in 2012. Brafton has reported that marketers are looking for editorial talent this year, and it’s clear not every business is bringing content in-house. Nearly one-third of marketers (31 percent) say their electronic content is outsourced to professional agencies and content writers.
Calling in content marketing experts is a rising trend this year – and a practice that may be well advised for businesses struggling to generate demand for their products and services. As Brafton has reported, only 3 percent of B2B marketers believe they currently “wow” prospects with content by meeting their informational needs.