LONDON–(BUSINESS WIRE)–Technavio
market research analysts forecast the global
content marketing market to grow at a CAGR of more than 16% during
the forecast period, according to their latest report.
The market study covers the present scenario and growth prospects of the
global content marketing market for 2017-2021. The report also lists
business-to-business (B2B) and business-to-consumer (B2C) as the two
major segments based on service provider, of which the B2B segment
accounted for close to 58% of the market share in 2016.
According to Ujjwal Doshi, a lead analyst at Technavio for media
and entertainment services research, “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. 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.”
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Technavio analysts highlight the following three market drivers that are
contributing to the growth of the global content
marketing market:
- Build brand awareness along with increasing trust and loyalty
- Low-cost alternative to traditional advertising
- Increases conversion rate
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Build brand awareness along with increasing trust and loyalty
Consumers create an impression of a brand or company based on the
content they view. Companies not only use content marketing strategies
as a form of advertising but also as a source of enhancing public
relations. Content marketing must include informative and
well-researched content as it makes the business look
authoritative and trustworthy and improves brand recall. If vendors fail
to do so, they will be replaced by other competitive brands.
“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,” says Ujjwal.
Low-cost alternative to traditional advertising
Content marketing is used by many companies as a cost-effective
alternative to traditional advertising. It helps businesses to
understand and reach their target audience more efficiently. In an
online environment, viewers can block advertisements using ad blocking
software. Sponsored content is one of the popular means of bypassing ad
blockers. Ad blockers scan the content and block ads from reaching
viewers. Despite numerous websites mandating the removal of ad blockers,
it has only led to a decrease in the number of visitors. Sponsored
content is delivered in the form of an article that explains the
benefits of a product.
Increases conversion rate
Content marketing requires businesses to dedicate their time and effort
for the best results. Though content marketing does not offer immediate
ROI, the effort could be worthwhile in the long term. Good-quality
content attracts visitors to websites, which is a gateway to turn
visitors into customers.
Businesses view content marketing as one of the premium means of
increasing conversion rate. In addition, it enhances search engine
optimization, social media following, and public relations. Businesses
need to understand that content marketing campaigns will only be
successful if the audience is immersed in the content. Content marketing
provides businesses with a valuable consumer base.
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