LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global content marketing market to grow at a CAGR of more than 16% during the forecast period, according to their latest report.
The market study covers the present scenario and growth prospects of the global content marketing market for 2017-2021. The report also lists business-to-business (B2B) and business-to-consumer (B2C) as the two major segments based on service provider, of which the B2B segment accounted for close to 58% of the market share in 2016.
According to Ujjwal Doshi, a lead analyst at Technavio for media and entertainment services research, “The effectiveness of traditional marketing is decreasing by the day. Companies must adopt the latest marketing trends to enhance their business and increase their consumer base. Content marketing is a strategic marketing approach that is focused on creating and sharing valuable, consistent, and relevant content to attract and retain the audience.”
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Technavio analysts highlight the following three market drivers that are contributing to the growth of the global content marketing market:
- Build brand awareness along with increasing trust and loyalty
- Low-cost alternative to traditional advertising
- Increases conversion rate
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Build brand awareness along with increasing trust and loyalty
Consumers create an impression of a brand or company based on the content they view. Companies not only use content marketing strategies as a form of advertising but also as a source of enhancing public relations. Content marketing must include informative and well-researched content as it makes the business look authoritative and trustworthy and improves brand recall. If vendors fail to do so, they will be replaced by other competitive brands.
“Content marketing is the most economical and effective means of building brand awareness among consumers. If an audience can rely on a company for information, then they will most likely buy products from the same company,” says Ujjwal.
Low-cost alternative to traditional advertising
Content marketing is used by many companies as a cost-effective alternative to traditional advertising. It helps businesses to understand and reach their target audience more efficiently. In an online environment, viewers can block advertisements using ad blocking software. Sponsored content is one of the popular means of bypassing ad blockers. Ad blockers scan the content and block ads from reaching viewers. Despite numerous websites mandating the removal of ad blockers, it has only led to a decrease in the number of visitors. Sponsored content is delivered in the form of an article that explains the benefits of a product.
Increases conversion rate
Content marketing requires businesses to dedicate their time and effort for the best results. Though content marketing does not offer immediate ROI, the effort could be worthwhile in the long term. Good-quality content attracts visitors to websites, which is a gateway to turn visitors into customers.
Businesses view content marketing as one of the premium means of increasing conversion rate. In addition, it enhances search engine optimization, social media following, and public relations. Businesses need to understand that content marketing campaigns will only be successful if the audience is immersed in the content. Content marketing provides businesses with a valuable consumer base.
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