• by Ray Schultz , Columnist, April 13, 2023

The economy has dampened enthusiasm for investing in content. Only 16% apiece of high-tech and consumer goods companies have significantly increased their investment, according the State of Content Report 2023, a study from Bynder. 

Moreover, slight increases at best have been posted by 41% of the consumer goods respondents and 37% of  IT, tech and telecom companies. 

Perhaps worse, 5% of consumer brands and 10% of the tech companies have significantly reduced their investment, and double digits in both fields have slightly reduced it.  

This may explain why 84% of marketers plan to “reduce inefficiencies and/or save costs by repurposing existing content on owned channels — such as their website or via email,” as the study puts it. 

And it looks even worse up there in the C-suite: 90% of CMOs in tech outfits and 99% within consumer brands plan to recycle content.  

That doesn’t mean companies are foregoing content development. Worldwide, 69% consider investments in content creation, management and distribution “a tactical decision to safeguard their finances during uncertain times,” the study says.  

Among CMOs, 76% within tech and 75% in consumer goods express a strategic interest in content, while 86% overall plan to maintain or increase their investment. 

Why? Because it is imperative for some.

“As we’ve had new disruptions come into the market, we now have a ton of content we need to make up,” says Michael Robinson, creative director at Nautilus. “Every single market channel requires new content; from TV to the website, emails and, obviously, social media.”

Given that, how do firms plan to balance cost efficiencies and content creation in 2023? IT, tech and telecom firms plan to:

Consolidate technology systems — 54% 

Reuse and repurpose content instead of creating bespoke new content — 48%

Reduce agency spend  —40%

Sponsor less content and host more on owned channels — 40%

Delay in-house creative hires — 41%

We have no plans to change the way that we approach content creation in 2023 — 20%

Consumer brands are similar. They expect to:

• Consolidate technology systems — 57% 
• Reuse and repurpose content instead of creating bespoke new content — 57% 
• Reduce agency spend — 50% 
• Sponsor less content and hose more on owned channels — 42% 
• Delay in-house creative hires — 24% 

We have no plans to change the way that we approach content creation in 2023—16%

Overall, brands seek to invest in these technologies:

• Content Management System — 58% 
• Product Information Management — 49% 
• Integrations with existing tech stack — 35% 
• E-commerce platforms — 27% 

Of the CMOs polled, 66% plan to spend on a digital asset management solution.  

In general, brands’ biggest content distribution goals are: 

• Improve localization and personalization efforts — 54%
• Create consistent content experiences on all platforms — 50% 
• Speed up time to market  \— 48% 
• Accelerate digital transformation — 47% 
• Align internal teams and save time — 21% 

Bynder recently surveyed 1,200+ marketing professionals.