According to a report, the global content marketing industry is expected to reach $137.2 million by 2026, at a CAGR of 16.2%. In fact, companies spend approximately 41% of their total marketing budgets on content.
Effectively managing your content marketing budget can sure seem like an extreme sport. Spend too much too early and you may fall short of your goals, spend too little and you may miss an opportunity.
There is one thing that can make content marketers feel like they’re on cloud nine, the phrase “leftover budget”.
But how and where should you allocate those dollars? We’ve got 6 ways to build end-of-year momentum to propel yourself into early 2021 success.
1. Perform a Content Audit
To end 2020 right, you need to understand the current performance of your content and the reasons behind it’s good or bad performance. A content audit can provide answers here, allowing you to identify gaps.
With an audit, you can identify your:
- Top-performing content
- Low-performing content
- Keywords that are ranking
- Gaps within your content strategy
Once you’ve identified what’s working and what’s not, you’ll have an idea of how to put your content marketing plan in sixth gear.
2. Place Bucks on Content Distribution
In the digital world, your content has to cut through all the noise and find an express lane to your customers’ eyes and ears. And with the right distribution strategy, your content can just cruise down that lane. With your leftover budget, you can add a little extra fuel to your top-notch content via paid distribution channels, influencer partnerships, or PPCs to give your content the traction it needs to boost your Q4 tally. 84% of content marketers have invested money in promoting and distributing their content on social media. Be sure to A/B test your search ads to get your money’s worth.
3. Get Your Market Research Glasses On
Invest in conducting market research to uncover insights about your competitors, customers, and industry. You can conduct focus groups, surveys, and personal interviews with your existing customers to identify their pain points, attitudes, and expectations. And for competitors, conduct a SWOT analysis.
With the right research, you can unravel things like:
- What type of content does your audience favor?
- What types of content are performing for your competitors?
- How frequently do your competitors publish?
- How do they run promotions on social media?
- What social channels should you be using to reach your customers?
These answers help you identify the sweet spot of what your brand can do and what your audience wants, so you can create content that resonates with it.
4. Give Your Website a Makeover
According to research, the top two predicted areas for content marketing investment in 2021 are 70% for content creation and 66% for website enhancements. In fact, the average lifespan for a website is between 1.5 to 2.5 years.
In terms of your website, ask yourself:
- Is it aligning with your business goals?
- Is it mobile-friendly?
- Does it have the right keywords?
- Do you have clear CTAs to capture lead information?
- Are your messaging and value-proposition clear?
Use tools like Ahrefs, Jaxxy, or Soovle to determine the right keywords and optimize your website pages and landing pages. Get all stakeholders involved to revisit your brand messaging. Make sure it is crystal clear and has a unique value proposition. Try A/B testing different headlines on your landing page, web page copy, and CTAs.
5. Experiment With Content Types and Channels
Customer preferences are constantly evolving, especially when it comes to content. With that leftover moolah, you have the opportunity to experiment with new content types or use new channels like Instagram. Only 30% of B2B companies leverage Instagram for content marketing. If that’s you, get rolling on the ‘gram wagon. Some content types to consider are:
- Podcast or webinar series
- Live video streaming
- Motion graphics
- Interactive or animated content
6. Amplify Brain Power
Because content marketing is an ever-changing avenue, investing in learning opportunities can make your team well-equipped to tackle changes. A better approach to training and development would be an in-house program delivered with the help of a learning management system (LMS). Online courses are quite effective as well, for instance, the HubSpot Academy offers courses about content marketing, social media marketing, and sales that can boost your team’s industry know-how.
You’ve worked hard to win your content marketing dollars, so make them work for you. May the force of content marketing be with you in 2021!
Want to end your content marketing on a high note this year? Talk to us!
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