Matthew is Founder and CEO of The DVI Group, a strategic communications agency that reimagines business video for brands around the world.
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Inflation is unavoidable in modern life, made even more obvious by the past year’s global economic turmoil. The American federal government reported an astounding 4.3% increase in consumer goods from Q3 over the previous quarter’s 9% increase. Market media outlets recommend investors lie low and ride safely through the impending recession. The message from economists and financial experts is clear: Prices are rising everywhere.
Prices for quality content marketing aren’t exempt from this raise. Agency owners have long evaluated the rising price of relevant goods and services and have tried their best to convey those price increases to clients in fairness. Yet, again, agency experts know the truth: Prices are rising. And that includes the prices for high-quality, data-backed content marketing deliverables.
But there’s great news for clients and agency leaders alike: The content marketing outlook for 2023 is bright. I believe that based on data measuring the effectiveness of content marketing, the content marketing industry is uniquely poised to beat inflation in real ROI.
Content marketing is cost-effective and powerful.
Content marketing—or brand marketing via helpful resources and thought leadership shared with target audiences—isn’t going anywhere. Data points to staggering success in content marketing, no matter how much clients spend on it. For example, research reports that while content marketing is 62% less expensive overall than other forms of marketing, it generates three times the leads.
Good content marketing is uniquely positioned to beat inflation with an approach that consistently outperforms spend—and spend clients do. Experts predict the content marketing industry will grow by $584.02 billion by 2027. And according to the Content Marketing Institute, half of B2B content marketers will increase their budget for 2023 despite economic downturns.
Combined, these statistics tell a story. Content marketing spend is exploding because of its valuable ability to achieve three times the results with less money.
Inflation is slowing.
Despite record increases in important sectors, evidence suggests that inflation is slowing and heading toward a correction point. November reports indicate sizable month-by-month decreases in inflation for key energy areas, such as electricity and other utilities. The month-by-month numbers look good for many other important areas, and news reports that overall rates have dropped steadily since a peak in June of this year.
The experts are focused on creative solutions.
One key ingredient in the fight against inflation is creativity. Content marketers should always focus on creating the most valuable creative content for their clients. After all, 92% of the top content marketers value “creativity and craft” most as they build their content for clients. Their creativity will ultimately win against economic and creative obstacles. I believe they’ll also succeed in the fight against inflation if they’re tapped into diverse creative strategies like:
• The power of SEO: Search engine optimization has emerged as a successful spend-worthy strategy. Since many potential customers may discover your services by searching for knowledge about subjects adjacent to your industry, include a blog on your website that shares useful content articles and incorporates popular searched keywords.
• Video content and other top mediums: Video as a content marketing asset type has been proven time and again to be versatile. With the addition of a visual angle on your content, you can share more emotion, explain more data and help viewers visualize exactly what you’re trying to communicate. Create meaningful how-to videos and explainers to attract an audience that responds to content marketing.
• True brand authenticity: 87% of the best content marketers, more than any other group this year, said that they prioritize audience over brand, showcasing a true commitment to authentic information. Create your content with an audience-first mindset. Wherever your marketing content is going to be deployed, start your creation process by thinking about what your audience will want to hear and feel—with what information they’ll find useful.
Can content marketing beat inflation?
As marketers, we may sometimes feel engaged in a fundamental creative struggle against time, money and our own brainstorming abilities. But armed with the knowledge of content marketing’s proven value and enduring effectiveness, we can move into 2023 with confidence in our marketing strategies.
It’s key for your clients to know just how valuable your content marketing assets are for their businesses this quarter. As next year’s budgets solidify and clients begin reaching out for quotes on future deliverables, make sure they’re aware of one important agency truth: Content marketing is a cost worth fighting for.
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