The survey results reveal that, for the third year in a row, the majority of marketing professionals (6 in 10) will allocate more of their marketing budgets to
content marketing initiatives
. In 2010, 59% of the 259 marketers surveyed plan to increase their spending on content efforts, which compares to 56% in 2009 and 42% in 2008. This is an 11% increase in spending from 2008 to 2010.
Particularly interesting is the comparison of content marketing spending between small businesses and larger sized businesses. According to the report, smaller companies are allocating 40% of their marketing budgets to content marketing, which is more than twice the amount of larger companies, who are allocating 18%.
Although the study does not report on the reasoning behind marketers' increase in spending, there are a number of possibilities for how marketers are justifying their budget increases:
Their content marketing efforts in 2008 and 2009 have proven successful.
Content marketing costs less than outbound marketing practices such as print/TV advertising, direct mail, cold calling, etc., and low-cost marketing is especially critical for small businesses who may have smaller overall marketing budgets.
The survey also indicates that marketers are increasingly convinced of the power of social media as the vehicle for their content production, with respondents using social media as 72% of their total marketing strategy.