The top purpose of content marketing continues to be to create brand awareness, reports WordPress VIP in its Content Matters 2023 Report [download page]. However, 82% of marketers responding to the survey say that the importance of using content as a revenue driver has increased, and this goal has climbed the rankings this year.
The report indicates that after being the 5th-ranked purpose for content marketing last year, this year generating sales and revenue has risen to the joint second-leading purpose for content. In the past, research has shown that content has been more successful in generating awareness than sales for B2C marketers, though for B2B marketers its useful in growing revenue had risen.
According to the report, the most effective content types for driving revenue are ad placements and selling content products. Respondents also are more likely to have content revenue goals if their leadership understands the value of content.
Along with boosting sales and revenue, marketers are also looking to content to generate demands and leads, per the report. Recent research has found that more B2B marketers are achieving their demand generation goals through content.
Other leading purposes for content marketing include building credibility/trust, building loyalty with existing customers and supporting the launch of a new product.
Standing in the way of success with content is a key challenge: resources. A lack of resources – be they people, talent, time, budget, or other resource limitations – is cited as easily the largest challenge, far ahead of others such as the economy, analytics-related issues, and competition.
Despite that, about half report that their content budget increased over the past year, and almost 6 in 10 expect their content budgets to grow again this year.
For more, download the study here.
About the Data: The results are based on a November 2022 survey of 1,554 marketers across industries, roles, and company types (B2B, B2C, etc.).