MARKETING
B2C Marketers Treat Content Marketing as a Project; That’s a Mistake [New Research]
In The End of Competitive Advantage, Rita Gunther McGrath illustrates all competitive advantages are transient. She contends everybody understands that. So why hasn’t basic strategy practice changed?
As Rita writes:
Most executives, even when they realize that competitive advantages are going to be ephemeral, are still using strategy frameworks and tools designed for achieving a sustainable competitive advantage, not for quickly exploiting and moving in and out of advantages.
That last part resonates after working with hundreds of enterprise brands over the last 10 years. Most businesses think about how they can change content to fit marketing’s purpose, not how they might change marketing to fit content’s purpose.
Guess what? Your content will never be a sustainable competitive advantage or differentiator – all content assets are easily replicable and, at best, only transient in differentiated value.
In the newly released Content Marketing Institute/MarketingProfs B2C Content Marketing Benchmark, Budgets, and Trends – Insights for 2023, I see it’s time to feed the content giant that awakened last year. But be careful not to get so distracted by the food you fail to cook consistently over time. All too often, content marketers get wrapped up in content creation rather than in the ability to lead the capabilities to create consistently.
Content should be a strategic activity
Look at content operations as the catalyst that can change everything for your content marketing challenges. You should recognize the activities you perform are a competitive advantage. Success hinges on the ability of a team (of one or 100) to be dynamic and fluid – moving in and out of “arenas” (as Rita calls them in her book) of content and creating temporary advantages.
Here’s the real takeaway: Ask everyone in your business – including your CEO – if they believe compelling, engaging, useful, and dynamic content-driven experiences will move the business forward.
If the answer is yes, then the strategic value lies in your ability to evolve and coordinate all the activities to create those content-driven experiences repeatedly. It does not lie in the content or the distribution plans. Your team’s job is not to be good at content; your job is to enable the business to be good at content.
#ContentMarketing’s strategic value lies in the ability to repeatedly deliver content-driven experiences, not the content itself, says @Robert_Rose via @CMIContent. Click To Tweet
Consider some highlights from this year’s research.
Struggle is real for content marketing strategy
Content marketing remains important.
Seventy percent of B2C marketers told us that content marketing has become more important to their organization over the last year. (Only 4% say it’s less important.)
With an increase in importance comes a need for more resources. When asked what they would change about content marketing in their organization, they say they want more staff, more budget, and better access to subject matter experts.
70% of #B2C marketers say #ContentMarketing is more important in their organization than last year according to @CMIContent #research via @Robert_Rose. Click To Tweet
Yes, content marketing is more important, but content marketers struggle to keep up with the demand.
Why?
Because so many businesses treat content marketing as a campaign-, project-focused effort that requires different “assets.” Content marketers are so busy churning out projects of content that they haven’t figured out how to make it a repeatable, consistent, and scalable process.
As far as their biggest challenges in content marketing, 57% of B2C marketers say creating content that appeals to different target audiences. Rounding out the top three: developing consistency with measurement (44%) and differentiating our products/services from the competition (40%).
57% of #B2C marketers say they are challenged to create #content that appeals to different target audiences according to @CMIContent #research via @Robert_Rose. Click To Tweet
Solving all three of these challenges centers around strategic content operations – setting a consistent long-term strategy to differentiate, developing a measurement plan that stands the test of time, and scaling to meet the needs of different audiences. But most marketers aren’t planning to acquire the help to tackle those challenges. Among the resources they plan to hire or contract in the coming year, almost half (45%) say they will look to grow writers, designers, photographers, and videographers.
It’s like trying to design a bigger house by simply adding more bricks.
45% of #B2C marketers plan to hire content creators in the coming year. @Robert_Rose says that’s like designing a bigger house by adding more bricks via @CMIContent #research. Click To Tweet
But B2C content marketing is working
Despite their challenges, talented practitioners find success. Overall, 81% of B2C marketers rate their success as either moderately, very, or extremely successful. Only 2% say they were “not at all” successful.
And 86% say content marketing provides a “meaningful/purposeful career path.”
These results align with the research discovered in CMI’s Content Marketing Career & Salary 2023 Outlook (registration required). We found though content marketers are generally happy in their current roles, they would be happier if their organizations prioritized content marketing, backed it with strategies and resources, and invested in technologies to help them do their jobs faster and more efficiently.
The final bit of good news? Almost three-quarters (73%) of content marketers expect their organization’s investment in the practice will increase or remain the same this year. Only 3% believe it will decrease.
Different activities, not more efficient ones
The B2C research presents some interesting insights into the priorities for 2023:
- Businesses must increasingly stop organizing and scaling new marketing teams based on platforms, technologies, or inside-looking-out views of the customer journey. The format and placement of those experiences on multiple channels will always be temporal. Success happens when the business becomes skilled and integrated at operating and managing all manners of content-driven experiences.
- Businesses must stop looking at content from a container-first perspective – designed solely to support marketing tactics or initiatives. Success happens when the business recognizes content operations as a function, supporting the fluid use of content to fuel better customer experiences.
- Businesses must not say, “That’s the way we’ve always done it,” when one experience no longer works. Success happens when the business can healthily disengage and dismantle experiences that aren’t working. They can constantly reconfigure their activities and manage portfolios of content-driven experiences.
Starting with the wrong premise
Often the first sign of trouble in any content marketing approach is when you hear, “How do we get more efficient at content?”
Efficiency involves changes to a process to remove friction. The question often assumes a working, standard operation providing value already exists. But if there is no repeatable standard operation, efficiency ends up meaning producing the same or more content with the same resources.
That rarely works out to be better for the business.
The more difficult task for content marketers is to determine the different activities necessary to create or augment the processes and identify the activities to undertake differently.
The content you create provides no sustainable competitive business advantage. But a strategic content operation just might.
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Cover image by Joseph Kalinowski/Content Marketing Institute
MARKETING
Trends in Content Localization – Moz
Multinational fast food chains are one of the best-known examples of recognizing that product menus may sometimes have to change significantly to serve distinct audiences. The above video is just a short run-through of the same business selling smokehouse burgers, kofta, paneer, and rice bowls in an effort to appeal to people in a variety of places. I can’t personally judge the validity of these representations, but what I can see is that, in such cases, you don’t merely localize your content but the products on which your content is founded.
Sometimes, even the branding of businesses is different around the world; what we call Burger King in America is Hungry Jack’s in Australia, Lays potato chips here are Sabritas in Mexico, and DiGiorno frozen pizza is familiar in the US, but Canada knows it as Delissio.
Tales of product tailoring failures often become famous, likely because some of them may seem humorous from a distance, but cultural sensitivity should always be taken seriously. If a brand you are marketing is on its way to becoming a large global seller, the best insurance against reputation damage and revenue loss as a result of cultural insensitivity is to employ regional and cultural experts whose first-hand and lived experiences can steward the organization in acting with awareness and respect.
MARKETING
How AI Is Redefining Startup GTM Strategy
MARKETING
More promotions and more layoffs
For martech professionals salaries are good and promotions are coming faster, unfortunately, layoffs are coming faster, too. That’s according to the just-released 2024 Martech Salary and Career Survey. Another very unfortunate finding: The median salary of women below the C-suite level is 35% less than what men earn.
The last year saw many different economic trends, some at odds with each other. Although unemployment remained very low overall and the economy grew, some businesses — especially those in technology and media — cut both jobs and spending. Reasons cited for the cuts include during the early years of the pandemic, higher interest rates and corporate greed.
Dig deeper: How to overcome marketing budget cuts and hiring freezes
Be that as it may, for the employed it remains a good time to be a martech professional. Salaries remain lucrative compared to many other professions, with an overall median salary of $128,643.
Here are the median salaries by role:
- Senior management $199,653
- Director $157,776
- Manager $99,510
- Staff $89,126
Senior managers make more than twice what staff make. Directors and up had a $163,395 median salary compared to manager/staff roles, where the median was $94,818.
One-third of those surveyed said they were promoted in the last 12 months, a finding that was nearly equal among director+ (32%) and managers and staff (30%).
Extend the time frame to two years, and nearly three-quarters of director+ respondents say they received a promotion, while the same can be said for two-thirds of manager and staff respondents.
Dig deeper: Skills-based hiring for modern marketing teams
Employee turnover
In 2023, we asked survey respondents if they noticed an increase in employee churn and whether they would classify that churn as a “moderate” or “significant” increase. For 2024, given the attention on cost reductions and layoffs, we asked if the churn they witnessed was “voluntary” (e.g., people leaving for another role) or “involuntary” (e.g., a layoff or dismissal). More than half of the marketing technology professionals said churn increased in the last year. Nearly one-third classified most of the churn as “involuntary.”
Men and Women
This year, instead of using average salary figures, we used the median figures to lessen the impact of outliers in the salary data. As a result, the gap between salaries for men and women is even more glaring than it was previously.
In last year’s report, men earned an average of 24% more than women. This year the median salary of men is 35% more than the median salary of women. That is until you get to the upper echelons. Women at director and up earned 5% more than men.
Methodology
The 2024 MarTech Salary and Career Survey is a joint project of MarTech.org and chiefmartec.com. We surveyed 305 marketers between December 2023 and February 2024; 297 of those provided salary information. Nearly 63% (191) of respondents live in North America; 16% (50) live in Western Europe. The conclusions in this report are limited to responses from those individuals only. Other regions were excluded due to the limited number of respondents.
Download your copy of the 2024 MarTech Salary and Career Survey here. No registration is required.
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