Marketing Thought Leader Seth Godin has said that “Content marketing is all the marketing that’s left.” If you believe him, then your Content Marketing Budget for content had better reflect the strategic role it has in your marketing plan.
Nearly all businesses have at least some sort of funds allocated to content marketing. According to eMarketer, 84% of all businesses used digital content marketing in 2018.
But how much should you expect to invest in the creation and promotion of content?
The size of your content marketing budget dictates a lot of things. It controls the level of performance you can expect. It also influences how scalable your overall content reach can be — bigger budgets have the infrastructure behind them to reach exponentially more people with just some marginal extra spending.
At the same time, money doesn’t grow on trees. Most businesses operate on a very tight budget, and they have little wiggle room when it comes to how much they can allocate to marketing.
Another complicating factor is that many professionals are unfamiliar with the amount of work that should go into content marketing and the overall output they can expect. Setting a content marketing budget therefore requires you to clearly understand your content marketing goals and the types of marketing activities you need to make those goals happen.