As marketing professionals strive to navigate the ever-changing business landscape in 2023, CMOs within the tech and consumer goods industries are embracing a new strategic imperative: investing in content creation, management, and distribution. The ‘State of Content’ report by Bynder, based on a survey of over 1,200 marketing professionals, sheds light on the emerging trends and challenges in these industries.
This article delves into some of the report’s findings, providing marketers and decision makers with actionable guidance to harness the power of content and position their organisations for success.
1. The strategic investment in content: A lifeline during uncertain times
In today’s uncertain economic climate, businesses are faced with the challenge of balancing cost reduction with long-term success. According to the ‘State of Content’ report, the importance of content in maintaining brand momentum and driving revenue cannot be emphasised enough.
A significant 69% of marketers view investments in content creation, management and distribution as strategic measures to ensure financial stability during times of uncertainty. These findings confirm the collective perception that content plays a critical role in keeping brands visible, relevant and resilient when faced with adversity.
The report sheds light on the risks associated with overlooking investments in content operations. Failure to invest in content creation, management and distribution puts brand visibility and customer retention at risk – directly impacting the company’s bottom line.
In today’s increasingly crowded market, customers are drawn to brands that meet their content needs. This leaves unprepared businesses in the dust, missing out on valuable opportunities for growth and success.
2. Streamlining efficiency with an integrated digital ecosystem
The current economic climate has prompted marketers to rethink their martech stacks, searching for ways to streamline operations and cut expenses. An overwhelming 83% of marketers prioritise martech consolidation and/or reduce reliance on external agencies.
By bringing content creation in-house, and optimising content delivery throughout the customer journey by leveraging an integrated digital ecosystem, organisations can achieve brand consistency, increase engagement and cut costs.
This approach eliminates the need for excessive outsourcing and reduces time-consuming back-and-forth interactions with external and internal stakeholders. However, the benefits of martech consolidation go beyond operational efficiency and brand consistency.
As marketers navigate this increasingly complex landscape, breaking down silos and integrating disparate systems empowers them to fully leverage data-driven insights. This way, they can deliver personalised and relevant content experiences, resulting in greater customer satisfaction and long-term loyalty.
3. Gaining a competitive edge with exceptional content experiences
In 2023, the success of a brand hinges on its ability to deliver outstanding content experiences to both existing customers and prospects. Bynder’s report emphasises the importance of orchestrating processes, data systems and distribution channels to meet the growing complexity of personalised and contextualised content across various platforms.
In fact, 98% of marketers prioritise faster time to market and the delivery of content experiences across platforms. This resounding emphasis on speed and relevance highlights the industry-wide recognition that customers expect immediate access to high-quality, tailored content and that those brands capable of meeting this demand gain a significant competitive advantage.
But attracting and retaining customers in today’s digital landscape requires more than just good content – it demands a comprehensive strategy and a digital ecosystem that ensure the right content reaches the right people at the right time and in the right place.
Customers have become discerning and will readily switch to competitors who can instantly address their needs. The ability to meet these expectations is crucial for brands aiming to thrive, particularly in times of uncertainty.
4. The cost-effective potential of repurposing content
Marketers are increasingly realising the value of content repurposing as a strategy to save costs and reduce reliance on external agencies. By repurposing existing content into different formats, brands can maintain consistent content experiences across multiple digital channels while optimising production time.
Eighty-four percent of marketers plan to cut costs and inefficiencies by repurposing content on owned channels like websites and email campaigns. Utilising efficient templating tools allows marketers to scale content creation, maintain brand consistency and automate processes, resulting in quicker time to market.
By repackaging content into engaging formats such as infographics, social media posts, video snippets, blogs and podcasts, brands can easily and affordably create a consistent content experience that reaches and engages their audience across various digital touchpoints.
Marketers can easily reuse and adapt ready-to-go content, ensuring brand consistency and eliminating the time-consuming design work that often hampers content production at scale – resulting in faster speed to market and a distinct competitive advantage.
Unlocking success in 2023 and beyond
At a time when adaptability is key to success, marketers and decision makers in the tech and consumer goods industries would be wise to seize the opportunities presented by content.
The insights from Bynder’s State of Content report provide a compass, guiding organisations through the dynamic content landscape. By strategically investing in content, streamlining martech stacks, delivering exceptional content experiences, and repurposing content, businesses can navigate the digital marketplace with confidence.
Read Bynder’s State of Content report and gain invaluable insights to elevate your content strategy in 2023.