The global content marketing industry is projected to enjoy a compound annual growth rate of 16% according to the latest market research forecast to be compiled by Technavio.
Spanning the period from 2017-21 the report singled out three key growth-drivers for the industry; building brand awareness, lower costs than traditional advertising and an increased conversion rate.
This is set to power a total industry valuation of just $195.58bn in 2016 to $412.88bn by 2021, representing incremental growth of $217.3bn.
Ujjwal Doshi, lead analyst at Technavio for media and entertainment services commented: “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.
“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.”
Sponsored content has taken off as advertisers seek new ways to skirt ad blocking software while delivering tangential benefits in terms of improving search engine optimization, social media followings and PR.