As such, estimated budgets for producing content have grown steadily from 12.6% two years ago to 23.3%, today -- and are on track to surpass 33% by 2017 -- according to new research from The Content Council.
“With new social media channels, the rise of video and an ever-evolving digital landscape, we’re excited to see the world of content adapting and growing,” Andy Seibert, managing partner at Imprint and chairman of The Content Council, explains in the new report.
Still, slowing the migration of ad dollars, the perceived measurability of content marketing remains a sticking point for many brands. Indeed, only 52% of marketers surveyed by the Content Council expressed confidence current measurability standards, compared to 65% of survey respondents in the media industry.
However, content creators say the biggest challenge is producing good work. Nearly 64% of respondents said engaging consumers with their content remains the biggest problem.
Where are brands spending their budgets?
The percentage of content marketing budgets being outsourced has increased from 23.1% two years ago to 29.1%, today -- and it should reach 33.7% by 2017, The Content Council predicts.
This year, global ad spending on social networks will slow to 29% -- down from a growth rate of 41% last year -- according to recent research from Strategy Analytics. On the bright side, advertisers are still expected to pump nearly $20 billion into social networks this year.
Stateside, advertisers are expected to spend $39.84 per social media user -- up 27% year-over-year -- Strategy Analytics estimates.
I find this article to be very intriguing and on point, with the statistics. With today’s world being so modernized and involved with technology, I believe the best way any product could be promoted would be through the use of technology and social media sources. I am not surprised with the stats on how much it has risen in popularity. With regards to the comment about it being difficult to come up with “good work” for the consumers, I think their best bet would be to reach out more to the majority group that the product is intended for. Get feedback, study their habits and the actions and motions they go through on an individual everyday basis. If this was done more often the marketers could get inside the minds of their consumers to produce something so amazing that no one could deny.