Research from Bynder’s inaugural State of Content report has revealed that despite the present economic climate, 69% of global marketing teams have increased or maintained their spend on content creation, management, and distribution this yr.
The survey of 1,297 global CMOs found that the increased investment in content creation, management, and distribution was a tactical decision to be more agile and adaptable during uncertain times.
Bynder’s survey also revealed CMOs are planning to review their existing martech stacks to discover and take away redundant or unused services, and put money into technology that unites various solutions right into a connected ecosystem. More specifically, 83% of marketers are focused on consolidating their technology systems and reducing agency spend this yr.
In addition to this, streamlining the creation of digital content experiences was also top of mind, with a staggering 98% of those surveyed prioritising faster time to market and the delivery of content experiences across multiple platforms this yr. In particular, speeding up time to market was noted as a top priority for 2 thirds of marketers worldwide.
The data also revealed that 85% of marketers intended to speculate in a digital ecosystem powered by DAM.
Warren Daniels, CMO at Bynder, said: “Content is a strategic business asset, and despite tough economic headwinds, our State of Content report has shown that global marketing teams are increasing or maintaining their spend on content creation, management and distribution, as that is where they consider they may see probably the most return on investment.
“The demand for targeted content across a number of touch points can also be growing at a faster rate than ever before, so having a single source of truth in the shape of a digital asset management system is the important thing to unlocking higher content experiences for patrons as it might probably provide efficiencies and insights that may really fuel marketing efforts.”
The State of Content report also delved into the attitudes of experienced marketers towards content goals, challenges, and future investment.
The majority of marketers recognised the cost-saving advantages of repurposing content, particularly during tough economic times, with 84% of marketers planning to scale back inefficiencies and save costs by repurposing existing content on owned channels.
Over half of marketers (54%) identified improving localisation and personalisation efforts as key objectives in 2023. The survey revealed that enhancing personalisation is perceived as more mission-critical at an executive level, with greater than half (60%) of CMOs across industries prioritising this.
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