The global content marketing industry is projected to enjoy a compound annual growth rate of 16% according to the latest market research forecast.
New figures from Technavio estimate that $412.9 billion will be spent on content marketing worldwide by 2021, up from $195.6 billion in 2016. That's an annual compound growth rate of 16%. Technavio analysts report that traditional marketing techniques are losing their effectiveness, helping to drive the boost in content marketing.
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.”
Jay & Julia Taylor own and operate Caney Creek Studio. Caney Creek Studio is a video production, digital marketing, and social media management agency.