In a perfect world, marketers could have unlimited budgets to execute every creative idea they bring to the table. But in the real world, budgets are not unlimited, and marketing ideas are tamed by creative capabilities.
As a marketer, you need to execute your campaigns within the limits of your brand’s marketing budget. That means some creative ideas may be placed on the shelf, while others simply require more innovative solutions to execute.
In a world where consumer demand for interesting content is on the rise, you need to get your content in front of their eyes as frequently and consistently as possible. You also need unique content for each of your promotions to avoid becoming stale or getting lost in the clutter.
But what happens if you have a very fixed marketing budget?
Budgets for content creation are flatlining
You’re not alone if you feel like your creativity is limited by finances - or lack thereof.
Only 26% of total marketing budgets are invested in content creation.
This is data taken straight from the Content Marketing Benchmarks, Budgets, and Trends report. The report is an annual collaboration between Content Marketing Institute and MarketingProfs, two of the leading brands in the industry.
But there are even more concerning trends for creative marketers.
Market research suggests that 43% of marketers expect their budgets to flatline or perhaps shrink in the new year. If the trend proves accurate, there will be even less money available for marketers to create content. According to Gartner, marketers expect budget cuts to limit their capabilities in these key areas.
Budget cuts will impact your plans for content
Should your team reduce the amount of budget available for marketing, your ability to earn value from your content will be significantly affected.
One of the most practical ways to use content in today’s environment is via mobile. The average consumer spends as many as 300 minutes per day consuming content on their mobile device. That should be incentive enough for you to push your content out to mobile channels.
Social media is where people spend their mobile moments. According to Flurry Analytics, 90% of mobile moments are spent in apps, primarily apps like Facebook, Instagram, Snapchat, YouTube, and other consumption channels.
Mobile and social is where your consumers spend their time. Any good marketing strategy should include content specifically designed to engage people on those channels.
But if your budget is flatlining or worse, shrinking, how are you supposed to create enough content to keep people engaged with your brand?
Reallocate your budget to cost-efficient creative solutions
There are affordable and agile ways to create visual or video content for easy consumption. The best part is that these solutions don’t take away or otherwise interfere with your existing creative process. You simply add a new layer on top of your current workflow and ramp up content production without breaking the bank.
Technology is a marketer’s best friend these days. You can use technology to transform the capabilities of your creative team. You can use technology to establish clear and concise guidelines for producing on-brand content.
Perhaps the greatest benefit of a technology platform is that you can connect with creative talent in markets all around the world. In addition to expanding the size of your creative network, you position yourself to create highly targeted and localized content on a global scale.
This can even help you create content custom-made for seasonal or cultural times of the year catered to each individual market.
Think about each of those benefits for a moment.
You’re extending your brand’s visibility into localized markets all over the world without paying to establish a satellite site on the ground.
You’re also eliminating the travel costs of sending your team to create content within those markets.
You can guarantee all content is consistently on-brand using the visual calibration within your platform, thereby educating every member of your creative network on how to create content for your brand in no time at all
The amount of time and money you save on creation is the underlying benefit of technology. You can transfer operational budgets you would have spent on content creation towards planning or promotions.
If the trend proves true and less money is available for marketing operations in 2018, investing in technology now can help streamline your creative workflow in the new year. Hit the ground running in 2018 with an agile and cost-effective content creation operation, and your brand will be primed to connect with a captivated audience throughout the year.
If you have any leftover budget left from 2017, now is the time to test how technology can improve your marketing operations in 2018. Register for our 7 smart content investments in 2018 webinar, happening on Thursday, November 30 at 1 pm ET, for insights into technology and recommendations to wisely invest your money into the most practical creative solutions for your brand.