Content marketing is so important in the 2020s that upwards of 90% of all marketers include it in their basket of strategies. They do so for one very good reason: 74% of companies that utilize content marketing say that it has proven to be an effective tool for generating leads. So it makes sense that digital marketers would push content marketing services specifically.

The two stats you just read come from a very informative Forbes Advisor piece posted in late march, 2024. As I read the post, I wondered how many small businesses are struggling with trying to figure out how much of the marketing budget should be spent on content. It is not an easy question given the following:

• There are multiple forms of content.
• Content can engage in different ways.
• Producing content can be expensive.
• Content powers SEO and, by default, organic search.

The Forbes piece is much too long for me to do it justice in a single post. However, touching on some of its main points drives home the idea that companies should be investing at least a portion of their marketing budgets in content marketing services.

How Much Is Being Spent

As you might expect, the amount of money spent on content marketing varies from one company to the next. Roughly 4% of companies spend in excess of 70% of their marketing budget on content and related items. That is a lot. On the other extreme are the 15% who spend less than 5 percent of their budgets on content. The largest group, categorically, are the 36% who spend 10-29% of their budgets

In terms of real dollars, 27% spend less than $1,000 per month on content marketing. That gives us a bit more perspective. However, most companies also incrementally increase the amount they spend as “needs and capacities grow.”

What the Money Is Being Spent On

Perhaps the most important aspect of this whole discussion is what content marketing dollars are actually being spent on. Remember, content marketing takes many forms. At Webtek Digital Marketing in Salt Lake City, Utah, content marketing services can offer everything from blog posts to videos to infographics.

According to the Forbes piece, the top five areas of content marketing spend are:

• Social media and community building.
• Improving content quality.
• Customer and audience research.
• Better content analytics.
• Video content.

Surprisingly, SEO does not make the top five. It actually takes sixth place. That surprises me given the fact that content drives organic searches. Moreover, organic searches make up the majority of the traffic sites receive from new visitors. It would seem to me that more attention will be given to aligning content to SEO goals.

It’s All About Social

What does not surprise me is the fact that more than half of all companies engaging in content marketing spend a significant portion of the budget on social media and community building. When all is said and done, content is meant to be consumed. It is meant to be useful, relevant, and sometimes entertaining. But in order to engage with people, the content has to be published where they are. And these days, that’s social media.

Does your organization have a content marketing strategy? If so, are you handling it in-house or paying for professional content management services? As important as good content is right now, it’s equally important to spend every dollar wisely.

Only you and your team can determine how much to spend on content marketing. But at least some of your marketing budget should be allocated in that direction. Otherwise, you’re throwing away a valuable resource.