You’ve got the branding, website, ads and all the other marketing bells and whistles. So why would you be interested in creating “content” to market your business?
We get it. You are busy. But a changing online space, potential savings and the available expertise might just change your mind.
1. Paid advertising does not reach as many eyeballs or ears as it used to
Do you still pay attention to adverts, or do you flick channels and listen to- or watch paid streaming services to avoid it? According to research from Demand Metric, 86 per cent of people skip television adverts. A further 44 per cent ignore direct mail, and 91 per cent unsubscribe from company emails.
News about the rise of adblockers caused mass hysteria amongst digital marketers in 2015/2016. While the dust may have settled, ad blockers are here to stay.
By creating and sharing relevant content as part of your marketing strategy, you’ll still be able to reach your target audience.
2. Content marketing costs substantially less than traditional marketing
Content marketing can cost up to 62% less than traditional marketing, according Demand Metric.
While this is a widely shared number, Australian content marketing agency Castleford goes into more detail about its cost efficiency. Businesses can optimise their ROI from a much lower base than would have been required from traditional marketing platforms. For example, through content marketing, $10 a day for 365 days could reach over 14 million people. On the traditional front, $10 000 on TV production and spots might only return $12 200.
Another example by Castleford is the conversion potential of websites containing blogs, versus ROI for magazine advertising. They estimate that a website attracting 36 500 per year (100 visitors per day) could potentially drive 5 840 conversions over 12 months. An Australian radio advertisement, costing between $100 and $700, has the potential to have an ROI of $6 per dollar spent.
One could, therefore, assume the earnings potential of content marketing is much higher. That said, it is important to note that content marketing ROI varies from industry to industry due to targeting requirements on different online platforms.
3. You don’t have to do it all by yourself
Another interesting statistic – this time by the Interactive Advertising Buro in the States: 73% of major businesses hire someone to manage their content marketing strategy.
Businesses are investing in journalists, copywriters, digital marketers, videographers and graphic designers to create engaging content to market their brands.
While larger businesses with big budgets are taking content creation in-house, smaller companies are outsourcing their content marketing efforts. In doing so, they are not only saving time and money, but they can rest assured that their messaging appears on the right platforms and in the correct formats.
A content marketing expert’s external, impartial input is also beneficial to ensure the content adds genuine value to the audience.
Consumers have grown tired, and weary of businesses who follow a prescriptive approach in their marketing messaging. By truly offering value with a “give” approach in useful and entertaining content, you’re more likely to build credibility in your existing and potential customer base. This, in turn, will lead to a better return on investment for your marketing efforts.