The percentage of your budget that is spent on content marketing must reflect the split between brand based marketing and the direct response based marketing.
“Most marketers are allocating anywhere between 25 and 49 percent of their marketing budget towards content marketing on the B2B side,” Michael Marchese, Founder & CEO of Tempesta Media.
And specifically the Content Marketing Institute’s 2018 B2B content marketing trends report, cited that in North America, the average spent across all B2B companies on content marketing was 26 percent. This number is only continuing to grow.
If you bifurcate the data between companies who were successful in their marketing programs and those that weren’t successful in their marketing programs, there was a start difference. Companies that were most successful were actually allocating close to 40 percent of their overall marketing budget on content marketing. Companies who allocated the least amount of their budget to custom content struggled the most.
An important take away is that content marketing requires skin in the game to be successful, and truly see results.
So when you’re trying to develop your content marketing budget, keep several things in mind:
- What you’re trying to achieve
- How you’re trying to allocate your marketing budget
- Content marketing best practices
- Keeping up with your competition
For questions about how to keep up with your competition, contact Tempesta Media.