58.4% of Marketers Expect Their Content Budgets to Increase in 2023
As marketers dedicate more of their budget to content, new research suggests that senior leadership is seeing the value of it, and content is becoming a key revenue driver.
WordPress VIP recently published its “Content Matters 2023 Report,” and the majority of respondents (58.4%) stated that they expect their content marketing budgets to increase in 2023. Over the past 12 months, most marketers (49.2%) said that their content budget has grown larger.
About 35.1% of respondents claimed that they spend between 11% and 30% of their marketing budget on content, while 16.4% stated that they dedicate between 31% and 50% of their funds to this initiative. Approximately 5.8% said they allocate over 50% of their budget to content.
“Despite global economic uncertainty, marketing budgets are expected to increase again next year, proving the essential value of content marketing for organizational success, even in shaky times,” wrote the researchers behind the report.
B2B Marketers Begin to Find Value in Leveraging Content
As content continues to grow in value to marketers, previous research indicates that B2B marketers, in particular, are beginning to reap its benefits.
The Content Marketing Institute released the 13th edition of its “B2B Content Marketing: Benchmarks, Budgets, and Trends” report, and data suggested that most B2B marketers (56%) believe their organization has been at least “moderately successful” in terms of using content marketing over the past year. Nearly 25% stated that their company has been “very successful,” and 4% claimed that their organization has been “extremely successful.”
Additionally, 40% of B2B marketers said that they now have a documented content marketing strategy. Over the past 12 months, the majority of respondents (71%) stated that they believe content marketing has become “more important.”