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US Financial Services Content Marketing (2)
Key Takeaways
- In a global survey, 46% of marketers stated that their companies spent up to $10,000 in 2019 on content marketing. In addition, 2% of surveyed industry professionals stated that their content marketing budgets for 2019 ranged between $500,000 and $5 million.
- Company marketing budgets as a percentage of revenue were 11.2%, 11.3% and 12.1% in 2018, 2017 and 2016 respectively. In 2018, companies invested 29% of the market budget in marketing tools and technologies up from 22% in 2017.
- A study by Research Dive forecasts that the Global Content Marketing Industry will be $107. 5 billion by 2026 up from $36.8 billion in 2018 at a Compound Annual Growth Rate of 14.3%. North America has dominated the Global Content Marketing Industry valued at $14.7 billion in 2018 and expected to generate a revenue of $42 billion by 2026 at a Compound Annual Growth Rate of 14.0%.
- Insight Slice estimated the Global Digital Content Creation market size to be $11 billion in 2019 and is expected to reach $38.2 billion by 2030 with a Compund Annual Growth Rate of 12%.
- Valuate Reports recorded that the Global Digital Content Creation market size was $11.59 billion in 2020 and is projected to reach $12.78 billion by 2026.
- A report by Transparency Research estimates Global Digital Content Creation market to reach $43.24 billion by 2026 and $51 billion by 2027 with a Compound Annual Growth Rate of 17%.
- North America has the largest market share in the Global Digital Content Creation and is expected to witness prominent growth owing to strong adoption of digital content creation tools and presence of leading tool developers across the United States and Canada.
- Due to increase in social media sites, the social media market channel is estimated to generate a revenue of $21.4 billion by 2026 from $6,886.3 million in 2018 with a Compound Annual Growth Rate of 15.2%.
Introduction
Content marketing is the process of creating relevant and valuable content to fascinate, engage and catch audience attention. This is achieved through creation and circulation of digital marketing content to attain brand awareness, product awareness and generate consumer interest. In a global survey, 46% of marketers stated that their companies spent up to $10,000 in 2019 on content marketing. In addition, 2% of surveyed industry professionals stated that their content marketing budgets for 2019 ranged between $500,000 and $5 million. Company marketing budgets as a percentage of revenue were 11.2%, 11.3% and 12.1% in 2018, 2017 and 2016 respectively. Data specific to content marketing cost by enterprises in the financial industry in the US was unavailable in public domain sites. We resulted to presenting data and information on spending by companies globally and companies in the United States. The amount spent on content marketing is presented as a dollar figure, percentage of revenue and percentage of marketing budget. Given the limited amount of data we were not able to provide the breakdown of expenses in content marketing. However, we were able to establish that the financial services' industry allocates 12.2% of total spend to advertising.
A study by Research Dive forecasts that the Global Content Marketing Industry will be $107. 5 billion by 2026 up from $36.8 billion in 2018 at a Compound Annual Growth Rate of 14.3%. North America has dominated the Global Content Marketing Industry valued at $14.7 billion in 2018 and expected to generate a revenue of $42 billion by 2026 at a Compound Annual Growth Rate of 14.0%. In addition, reports by Insight Slice and Valuate Reports estimated the Global Digital Content Creation market size to be $11 billion in 2019 and $11.59 billion in 2020 respectively. North America has the largest market share in the Global Digital Content Creation owing to strong adoption of digital content creation tools across United States and Canada. Valuate Reports projects that the Global Digital Content Creation will reach $12.78 billion by 2026 while Transparency Research estimates it to reach $43.24 billion by 2026. On the other hand, Transparency Research estimates that it will reach $51 billion by 2027 and Insight Slice expects it to reach $38.2 billion by 2030. Data on market size of content marketing by financial services in the US was unavailable in public domain sites. We resulted to presenting data and information on overall market size globally and overall market size in North America (United States and Canada). However, we were able to find two examples of financial institutions with insights on content marketing.
Findings
Overall Spending on Content Marketing Industry in the US
- In a global survey, 46% of marketers stated that their companies spent up to $10,000 in 2019 on content marketing. In addition, 2% of surveyed industry professionals stated that their content marketing budgets for 2019 ranged between $500,000 and $5 million.
- Company marketing budgets as a percentage of revenue were 11.2%, 11.3% and 12.1% in 2018, 2017 and 2016 respectively. In 2018, companies invested 29% of the market budget in marketing tools and technologies up from 22% in 2017.
- The Chief Marketing Officers Survey projects spending on digital marketing to increase from 44% of marketing budgets to 54% of marketing budgets by 2024.
- On average companies spend about 21% of their marketing budgets on advertising. The financial services' industry allocates 12.2% of total spend to advertising.
- In the US, the revenue generated through digital advertising has increased with companies allocating 7.3% to digital display advertisements.
Overall Market Size of the Content Creation Industry in the US
- A study by Research Dive forecasts that the Global Content Marketing Industry will be $107. 5 billion by 2026 up from $36.8 billion in 2018 at a Compound Annual Growth Rate of 14.3%. North America has dominated the Global Content Marketing Industry valued at $14.7 billion in 2018 and expected to generate a revenue of $42 billion by 2026 at a Compound Annual Growth Rate of 14.0%.
- Insight Slice estimated the Global Digital Content Creation market size to be $11 billion in 2019 and is expected to reach $38.2 billion by 2030 with a Compund Annual Growth Rate of 12%.
- Valuate Reports recorded that the Global Digital Content Creation market size was $11.59 billion in 2020 and is projected to reach $12.78 billion by 2026.
- A report by Transparency Research estimates Global Digital Content Creation market to reach $43.24 billion by 2026 and $51 billion by 2027 with a Compound Annual Growth Rate of 17%.
- North America has the largest market share in the Global Digital Content Creation and is expected to witness prominent growth owing to strong adoption of digital content creation tools and presence of leading tool developers across the United States and Canada.
- Cost reduction in digital content creation, a rise in internet penetration, increased use of smartphones and tablets, and increased adoption of digital marketing tools are the key factors driving the market growth of digital content creation in the last few years.
- Major players active in the global digital content creation market include Acrolinx GmbH, Activision Blizzard, Inc., Adobe Systems Inc., Apple Inc., Aptara Inc., Avid Technology, Inc., Comcast, Corel Corporation, HubSpot, Inc., Integra Software Services Pvt. Ltd., Magic Software Enterprises, MarketMuse Inc., Microsoft Corporation, Quark Software Inc., Quick Sprout, LLC, and Trivantis Corporation Inc.
- The global content creation market is segmented based on component, content format, deployment type, enterprise size (large enterprises and small & medium enterprises), end use industry (hospitality, retail, automotive, travel & tourism, healthcare, pharmaceuticals, media & entertainment, government, and others), and geographical location (North America, Europe, Asia Pacific, Middle East & Africa, and South America).
- Based on digital content creation services (a sub-segment of component), the professional and managed services segment is expected to witness prominent growth owing to expansion of cloud based digital content creation and advancement in digital content creation tools.
- Based on end use industry, the media and entertainment segment contributed a dominating share to the global market owing to strong adoption of digital content creation tools and services globally. Travel and tourism segment is estimated to be the fastest growing owing to rising online traffic and rigorous marketing to attract clients.
- Based on region, North America and Europe are the major regions that drive the growth of the global digital content creation market.
- Due to increase in social media sites, the social media market channel is estimated to generate a revenue of $21.4 billion by 2026 from $6,886.3 million in 2018 with a Compound Annual Growth Rate of 15.2%.
Content Marketing by Financial Institutions
Santander Bank
Santander Bank launched a new content marketing strategy aimed at connecting with millennials. A dozen articles are published each month on topics about save up, master debt and live life under the umbrella of Prosper and Thrive on thehub.santanderbank.com. Viewers also find tips on summer stay cations and wedding budgeting. Content Marketing Institute reported that the bank was meeting its engagement and conversion goals, driving traffic to their core banking website, and gaining insights about the audience through surveys. Overall, the goal was to attract would be customers and win their loyalty so that when they need banking products in the future, Santander will be top on the list.
Sun Life Financial
BrighterLife by Sun Life Financial is an online money, health, and wellness publication where ideas are shared about money, health, and family. Its financial content includes a variety of timely articles and videos with tips and tools for personal finance and retirement planning among other topics. It created a true community that’s targeted at families by wisely integrating a variety of other topics that families are keen on. Sun Life Financial wanted to engage Canadian consumers before they were aware that their needs might be met by a financial product. The ultimate goal was to drive a more-informed consumer to Sunlife.ca to find product information or speak with an advisor. BrighterLife.ca was incredibly successful and named one of Content Marketeer’s Top 50 Brands to Watch in 2012, received Content Marketing Institute’s Magnum Opus Gold Award and a Sabre Gold Award in the Financial Services category. In the first nine months of BrighterLife launch, Sun Life converted approximately 4% of traffic to leads with more than 8,700 click-throughs to SunLife.ca. In addition, it drew over 13,000 fans and followers across its Facebook and Twitter accounts.
Impact of Content Marketing on Revenue
Content marketing is an important part of any business and fuels all forms of inbound techniques such as email, social, paid and organic search. A clear and well-defined content marketing strategy helps a business create content but also audit and set its goals, improve content distribution, and help evaluate and measure Return On Investment.
Research Strategy
The information on the content marketing cost by enterprises in the financial industry in the US was unavailable in public domain sites. We resulted to presenting data and information on spending by companies globally and companies in the United States. The amount spent on content marketing is presented as a dollar figure, percentage of revenue and percentage of marketing budget. Given the limited amount of data we were not able to provide the breakdown of expenses in content marketing. However, we were able to establish that the financial services' industry allocates 12.2% of total spend to advertising. Similarly, for data on market size of content marketing by financial services in the US was unavailable in public domain sites. We resulted to presenting data and information on overall market size globally and overall market size in North America (United States and Canada). However, we were able to find two examples of financial institutions (Santander Bank and Sun Life Financial) with insights on content marketing.