The global content marketing industry is set to grow by over 16% during the next four years, as more B2B and B2C enterprises switch from traditional campaigns to digital resources in order to engage with audiences and enhance core business functions.
Technavio’s market research analysts revealed that there are several market drivers contributing to this notable growth, forecast between 2017 and 2021. These include the capacity for engaging written content and visual resources to build brand awareness, drive customer trust and retention, and increase conversion rates, while being a low-cost alternative to print, TV, and other forms of traditional advertising.
“The effectiveness of traditional marketing is decreasing by the day. Companies must adopt the latest marketing trends to enhance their business and increase their consumer base,” lead analyst Ujjwal Doshi said. “Content marketing is a strategic marketing approach that is focused on creating and sharing valuable, consistent, and relevant content to attract and retain the audience.”
Content marketing is currently valued at $195.58bn (£147bn), but this is set to soar to $412.88bn (£310bn) by the beginning of the next decade. The blogging segment is forecast to grow by a larger margin than the general industry due to the rising value of in-depth, premium content.
“Content marketing is the most economical and effective means of building brand awareness among consumers. If an audience can rely on a company for information, then they will most likely buy products from the same company,” Doshi added.