With three days left in the year, many a business and freelance professional are turning their attention to their 2016 budget. Dozens of expenses eat up revenue throughout the year, some necessary and some not. Should you budget for content?
You’d be stupid not to.
Content is an integral part of business. It’s used in everything, from needed internal documents to content for marketing. And based on the current and upcoming online trends, content is still king.
Content is applicable to every profession imaginable, from the indie author’s need for a website to the small business looking to standout on a local and larger scale. Major search engines like Google and Bing are focusing even more on creating the optimal user experience, which means content is more important than ever.
Putting a Price on Content Creation
You can’t have content marketing without content. The two go together like peanut butter and jelly or eggs and ham. They complement each other and work together.
According to a recent IBM and CMO Club study, almost 60% of CMOs are increasing their 2016 budget across almost every area. 57% anticipate increasing their marketing budgets over the coming two to three years.
The focus of marketing and content is shifting. Gone are the day of the hard sale.
Today’s content marketing is all about the buyer’s journey. It integrates written copy with visual appeal and social and digital distribution channels.
Content marketing budgets for 2016 are not focusing solely on copywriting or favoring visual elements over the written word. Instead, smart businesses are increasing their budgets across the entire field of content marketing:
- Feature images
- Social media specific graphics
- Blogging and guest blogging
- Social sharing
- Email marketing
In other words, every element of digital marketing is equally important this coming year. It’s no longer a matter of eggs and ham; it’s the creation of a gourmet breakfast containing ALL of the staples.
How much should you prepare to spend on your content marketing endeavors in 2016?
The answer, according to seasoned CMOs, is this simple:
- The largest part of your budget (roughly 13.3%) should be allocated to content creation.
- Traditional advertising comes second with 11.5% of your budget.
- Digital or online advertising places third with 11.1% of your budget.
- Events should take up about 10.9% of your budget.
- Investment in a digital website and website development should occupy 10.5% of your budget.
- Finally, public relations come in at 9.6% of your budget.
Expect to invest the most in content creation because not a single one of these tactics can survive without it.
Should you budget for content in 2016?
Not only should you budget for it, but you should also experiment with it. According to Jonah Sachs, “Good marketers see consumers as complete human beings with all the dimensions real people have.”
“Don’t be afraid to get creative and experience with your marketing,” says Jim Metvalk.
If nothing else, invest in high quality content creation this coming year. Make it the cornerstone of your digital marketing plan and you can’t go wrong.