Securing a healthy budget for content marketing can be a challenge for marketing managers. Not only do you need to provide evidence of content marketing’s effectiveness, you also need to show your boss why they can’t afford not to invest in content.
It is possible to make your case for a healthy content marketing budget though; these tips should help you get the budget you need to ensure your brand enjoys all the benefits of a solid content marketing strategy.
Demonstrate the real cost of a budget for content
First and foremost, managers want to know how much content marketing is going to cost them; and how it’s going to make them money. If you’re hiring an agency, it’s simple enough to see how much they charge for their copywriting services – but don’t forget to factor in the cost of your time spent managing the project, briefing and providing feedback. Being transparent about the true cost of content creation can add credibility to your case for a healthy content marketing budget.
Show them the value of content
Just how effective is content? According to Marketing Sherpa (2013), 53% of businesses ranked content creation as the single most effective SEO technique. Quality content creates leads for companies, who can convert those leads into sales. And, according to research by ThinkCreative, small businesses that blog see 126% more lead growth than those that don’t blog. You don’t need a huge content marketing budget either; managers may be surprised to realise that it costs up to 50% less to generate leads through blogging compared to some traditional outbound marketing techniques.
Let them know what they’re missing
As well as demonstrating the positive benefits of content marketing, it’s a good idea to let managers know why they can’t afford to miss out on creating a budget for content. According to the Custom Content Council, 61% of consumers say that they’re more likely to buy from a business which delivers custom content. Quality content generates consumer trust and boosts brand awareness, driving visitors to your site.
Managers may assume that they can save money by cutting back (or cutting out) their content budget, but this could end up costing the company in the long term. When you consider that 85% of all marketers and 90% of B2C marketers are investing in content marketing, with 42% of companies publishing new content daily or several times a week, it’s easy to see how you could lose out to your competitors by not investing in content.
Conclusion: make a strong case to secure your content marketing budget
Statistics, value and cost all all play a part in the creation of a strong case for a healthy content marketing budget. As a marketing manager, any time you spend now preparing your case will pay off in terms of the budget you’re able to secure. Show senior managers responsible for budgets what value content will bring to the business and you will be in a strong position to negotiate a reasonable budget.