Companies often draw up quarterly or annual marketing budgets. They should be comprehensive and include all the projects that your team plans to develop in the short and long term. For larger companies with still limited budgets, I would simply choose to spend money on things that demonstrate ROI, which will normally be a
) the production of new content or
b) a content audit followed by updates to historical content. That said, you shouldn't be posting mediocre content if you play for the long term.
Managing your content marketing budget efficiently will ensure that you get the best value for money and get the most out of your long-term content marketing strategy. B2C product companies spend an average of 14.2% of their revenues on marketing; the figure for B2C services is 8.7%. Email marketing ranked first as the most used media channel, used by one in two media planners, and offers the third highest ROI. Almost every company that has had success with internet marketing understands the importance of a blog.
Software: The software you may need for content marketing will include social media management software, email marketing software, a blogging platform, and content optimization software. Its use is also expected to increase this year, as 22% of content planners plan to use it for the first time this year. The exception to this is if you're in an emerging industry where there isn't as much competition from SEO and marketing. Once you've seen what type of content provides you with the highest ROI, you can reallocate your budget accordingly so that you can double your bet and do more of what works.
Since many marketers want to expand their audience base, conducting market research is the most appropriate strategy. If you don't actively track performance on the back end, you may miss out on the opportunity to optimize your strategy and attract new customers to your marketing channel. Once the budget has been allocated, the content marketing manager or content marketing director will normally be responsible for actually controlling the budget and deciding how it is spent. Advertising and promoting your content is one of the most important, if not the most important, parts of budgeting in the content marketing process.
Finally, decide what software you're going to use to optimize your content and help you achieve your goals. You can bring your entire content team and process together on this content project management platform, from content planning, creation, assignment, and approval to publication.
