Forecast: Content Marketing to surge forward in 2021
“Content marketing emerged from the Great Recession as a vital component of omnichannel media campaigns aimed at engaging and activating younger, elusive, fickle, and distracted target consumers, especially Millennials and iGens. Brands utilizing digital content marketing are capitalizing on the increased time these demographics are spending on mobile, social, online, and streaming media by using influencers, videos, podcasts and interactive game experiences,” said PQ Media CEO Patrick Quinn. “With marketing messages frequently getting lost because key audiences are media multitasking and consuming more content on wireless devices with ad-blocking software, brands are increasingly shifting investments to media platforms like content marketing that can demonstrate breakthrough engagement and activation.”
According to PQ Media’s Global Content Marketing Forecast B2B content spending has begun to push forward faster than B2C content spends. Experts believe that for 2020 US content marketing will see only about a 7% increase in spending, much lower than the 13% growth seen in 2019 or the 10 years worth of doubt-digit growth rates before.
Breaking down the spend, the data shows that about half of US revenues can be linked to digital content marketing; print magazines accounted for about $3 billion in content marketing spending, but consumers’ thirst for digital content has begun to push digital channels higher than more traditional. Their data shows a 30% increase in mobile content marketing spending, a 27% increase in content marketers’ use of games and content tools and a 24% increase in content marketing via social media channels.
The fast turn-around for content marketing is linked to consumers’ thirst for digital content. According to data out from DoubleVerify daily time spent with digital content has doubled since the beginning of 2020, and while nearly half (44%) are willing to watch ads in return for free content relevance is key to keeping those viewers engaged. Video content, especially content created by uses on YouTube and TikTok is especially of interest for viewers according to the report.
Nearly half (43%) of YouTube users are spending more time within the platform now than at the beginning of the year and usage of new social media platform TikTok is also growing fast.
“This study highlights how transformative 2020 has been for advertisers. From the doubling in content consumption to the perils of navigating ever more dominant fake news cycles, these shifts highlight the critical challenges brands face this year and beyond. Never has reaching audiences, in the right place and context, been more essential to drive campaign performance. ” commented Mark Zagorski, CEO at DoubleVerify.Â