State of Content Report 2023
In this unmissable guide, we dig deep into the power of the content experience and why it demands to lead the strategy of any brand looking to make a significant impact in 2023 and beyond.
Some important stats we’ll go over in this report
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Executive summary As marketing professionals continue Tech investments focused on simplifying the creation and to adapt to the challenges of a volatile distribution of consistent, personalized content experiences economy in 2023, CMOs in particular are becoming more important than ever, as this technology can effectively drive sales, brand awareness, and cost reduction. are prioritizing investments in content Likewise, our survey reveals that reducing agency spend while creation, management, and distribution increasing investments in scalable tech systems that streamline the to position their organizations for content creation process in-house is fundamental for companies aiming to maintain a competitive edge today. future success. By addressing the challenges, solutions, and priorities marketers Our recent survey of 1200+ marketing professionals* has are facing this year, our State of Content report offers valuable found that many businesses in technology and consumer insights for decision-makers looking to cash in on the criticality of goods plan to increase investment in marketing technology content as a differentiator to remain competitive in an uncertain that supports content operations. Our results show that these economic landscape. companies have acknowledged the significance of investing in a connected digital ecosystem able to meet consumers’ demands for content in terms of volume, variety, and velocity across an increasing number of channels. * Conducted with independent research firm PureSpectrum
As a marketer, I am constantly reminded that agility and responsiveness are the keys to success in today’s fast-paced and ever-changing market. The last few years have been a testament to this, as we’ve experienced unprecedented shifts in consumer behavior and were forced to adapt and evolve to stay relevant in a Foreword by shifting landscape. In 2023, we find ourselves facing yet another set of challenges. Warren Daniels, However, thanks to the advancements in marketing technology, we are better equipped than ever before to tackle these challenges head-on and turn them into opportunities for our businesses. CMO at Bynder Digital transformation is now quintessential for brands and companies to remain relevant in a world that is so clearly moving from analog to digital. As such, we must continue to embrace innovations and remain adaptable in the face of change in order to thrive. This report offers insights and guidance to help marketers navigate the challenges and opportunities that lie ahead; presenting data, ideas, and findings that can help us stay ahead of the curve and achieve the success and growth that we all seek.
“It’s no longer okay to say that digital transformation is around the corner. The digital reality is what we are living and teams are starting to look in the mirror and not love what they see.” — Scott Brinker, Editor, Chiefmartech.com
Snapshot In 2023, content retains its leading position in the world of marketing. 1 CMOs recognize the importance of investing in content creation, management, and distribution to face the challenges of this year’s down summary economy and position their organizations for success in the years to come. Many companies are struggling to meet the needs of today’s market— 2 including evolving consumer buying habits and their demand for a seamless digital content experience. However, CMOs are realizing that Welcome to the inaugural edition of prioritizing digital transformation efforts and investing in an integrated digital ecosystem that supports content operations will make their our state of content report. business more resilient, responsive to changes in the market, and competitive. Together with independent research firm PureSpectrum, Investments in technology that streamline the creation and distribution we surveyed 1200+ marketing and creative 3 of personalized content experiences are becoming increasingly professionals from various functional and executive critical as they continue to drive sales, brand awareness, and trust while roles, across a number of countries in the technology and reducing costs. Unsurprisingly, most companies intend to focus on such investments. consumer goods industries. Our focus is on addressing the challenges and priorities Repurposing content is an effective strategy that can save production 4 time, improve content ROI, and create consistent content experiences of marketing professionals and executives and providing across digital touchpoints. Investing in templating tools is becoming insights to help you leverage content’s mission-critical common practice among marketers looking to reduce reliance on role in navigating 2023’s uncertain waters successfully. expensive external agencies and create new formats of existing content easily and affordably, without increasing headcount.
State of Content - Part 1 In a tough economic In the backdrop of rising inflation and a volatile market, companies are increasingly having to cut costs in order to remain competitive. However, not all strategies can ensure both short- and long- climate, brands are term success. To navigate these complex waters, content can serve as a lifeline for organizations across industries. By utilizing the appropriate technology to create, manage, and distribute still investing content, teams can expedite their time to market, boost channel performance, and execute on strategic initiatives with a measurable in content return on investment (ROI). A centralized platform for managing content and content data—paired with integrated systems for managing customer data—can help digital market players respond quickly and effectively to changes in customer needs, demands, and expectations. Technology like digital asset management (DAM) helps businesses be more agile and adaptable during a down economy by eliminating team silos and integrating creation and distribution channels. Our research suggests that marketers and CMOs across industries recognize the value of content in uncertain times and plan to use technology that streamlines content to stay ahead of the curve.
Finding 1 Most tech and consumer goods companies are increasing or maintaining their investments in content creation and distribution to meet business goals and reduce costs. Content investments help to maintain brand visibility, deliver value to the target audience, build Brands worldwide will brand trust, and secure new keyword rankings, traffic, and shares. Failure to invest in enhancing content operations could disrupt maintain or increase brand momentum and risk losing customers who may not find the brand’s content when they’re ready to purchase—ultimately investments in creating, affecting profits. managing, and According to our data, the majority of marketers worldwide (69%) distributing content consider investments in content creation, management, and distribution a tactical decision to safeguard their finances during uncertain times. When we look specifically at CMOs, we see that interest in investing in content is even higher—with 76% of CMOs within tech and 75% within consumer goods companies expressing strategic interest. Notably, companies operating in both the B2B and B2C sectors report the highest rates of strategic investment in content, with 86% of CMOs planning to maintain or increase investment.
Finding 2 When asked about the significance of content in driving their company’s objectives, most CMOs cited the delivery of product and services information to customers as the primary benefit. Marketers agree content is They stressed that by leveraging content to provide engaging experiences, companies are able to differentiate themselves from crucial for delivering product their competitors and showcase their unique value proposition to information and/or showcasing the market, drive website traffic, sales, and ultimately, increase revenue for the organization. competitive differentiation Looking at the numbers in detail, we see that over half of marketers globally (58%) recognize content as vital to present product information and/or demonstrate competitive differentiation—a percentage that goes up to 66% for digital directors specifically. Interestingly, companies operating in both B2B and B2C sectors rely on content the most for differentiation and showcasing their product offering (67%).
“As we’ve had new disruptors come into the market, we now have a ton of content we need to make to keep up. Every single market channel requires new content; from TV to the website, emails and, obviously, social media.” — Michael Robinson, Creative Director at Nautilus
State of Content - Part 2 Not only does this approach reduce costs, but it also accelerates time to market— Having a connected leading to increased profit compared to slower competitors—and promotes brand consistency. Maintaining consistency while distributing content is, in fact, a challenge for most brands, as reported by 66% of respondents who regularly use ecosystem is more than 11 channels for their marketing and promotional activities. A connected digital ecosystem powered by a digital asset management platform helps paramount in 2023 businesses overcome this challenge. As defined by McKinsey, a digital ecosystem consists of “interconnected sets of services through which users fulfill various cross-sectoral needs in one integrated Marketing professionals around the world are acutely aware of the experience.” importance of their digital transformation efforts. Most businesses Such a system allows teams to manage the entire content lifecycle—from creation that are still struggling to meet the needs of today’s marketplace to automatic distribution at scale—and increases the value and flow of content are now considering investing in consolidating their martech stack across the organization and customer touchpoints. By ensuring the proper to face the challenges of 2023. delivery of assets to the platforms that require them, businesses are able to deliver exceptional content experiences to their target audience at the right time, According to our research, in 2023, most companies are prioritizing cost reduction and reach their goals. through the consolidation of technology systems and decreased reliance on In today’s digital-first world, data is essential to inform future initiatives and external agencies. Their objective is to enhance strategic efficiency and leverage evaluate the effectiveness of any strategy. A DAM solution at the heart of a the right technology to bring content creation in-house. This enables them to digital ecosystem provides invaluable insights into asset usage and performance, maximize the impact of content throughout the buyer journey while eliminating enabling companies to elevate the efficiency and effectiveness of their digital team and system silos that often result in increased spending with little payoff. strategy for future initiatives.
Finding 1 Our research shows that minimizing unnecessary expenses is a significant priority for most organizations. In 2023, CMOs across industries are planning to consolidate their existing martech stacks by identifying and removing redundant or unused services and investing in technology that unites various systems Most brands plan to into a single, integrated environment. By doing so, they aim to develop an effective integration strategy that drives consistency find cost efficiencies by and engagement across the customer journey, while reducing consolidating technology operational costs. systems and/or reducing The numbers show us that the vast majority of marketers (83%) across industries are focused on consolidating their technology agency spend systems and/or reducing agency spend by bringing part of the content creation process in-house and enhancing internal teams’ productivity. The interest is even higher among CMOs in specific industries, with 94% of those in tech companies and a remarkable 100% in consumer brands planning to consolidate technology systems and/or become less reliant on external agencies.
“With the old content-building system it could take weeks to actually do minor changes. So making changes to banners or ads in-house is a huge game changer - it’s way faster for us now.” — Aleksander Kyhn Hansen, Graphic Designer at Milestone
Finding 2 Most CMOs in 2023 intend to invest in a DAM solution and integrate it with their existing martech stack. An effective integrations ecosystem allows brands to shift their application architecture to an ecosystem of modular building blocks that can be composed based on current needs. A composable, integrated ecosystem CMOs around the globe can automate the delivery of content directly from one system of record to all content-serving platforms. This allows teams to intend to integrate DAM enhance digital experiences and streamline content creation, into their existing martech management, enrichment, transformation, and distribution for use across all channels in the customer journey while reducing the stack in 2023 likelihood of error. Our data shows that 85% of marketers worldwide intend to invest in a digital ecosystem powered by DAM. Notably, all CMOs (100%) in consumer brands and 98% in tech companies plan to invest in a connected ecosystem with a DAM platform at the center. When we consider the type of company, the results are just as impressive. In fact, a significant 88% of CMOs in B2B companies intend to invest in a connected ecosystem powered by DAM.
“We now have a well-coordinated system to get new content out and launch products in a very dynamic way. In terms of ROI, we’re spending way less time tracking assets across multiple groups of people. It’s a matter of operational efficiency and we see its value reflected across our marketing.” — Austin Holt, Digital Marketing Manager at Santa Cruz Bicycles
State of Content - Part 3 Content experiences Put simply, delivering a content experience means delivering the right content to the right people at the right time and to the right place. This requires careful orchestration of both customer and are key for brands to content data, and brands that fail to prioritize a consistent content experience risk losing customers to competitors. stand out The benefits of delivering content experiences across the customer journey are improved customer attraction and retention—ultimately benefiting a company’s bottom line—but brands are facing increasing complexity in delivering relevant, In 2023, a brand’s success heavily relies on the content contextualized, and personalized content to an ever-increasing number of experiences they create for customers and prospects. These channels with speed and agility. This has resulted in content chaos, compromising customer engagement and a brand’s bottom line. experiences should cover all interactions with the brand aimed at educating, informing, engaging, and inspiring the buyer. Achieving an exceptional content experience involves a comprehensive approach that prioritizes creating alignment to meet customer expectations, boosting engagement, and, ultimately, revenue.
Finding 1 Customers now expect personalized interactions with brands and will readily change vendors if this need goes unmet. They turn to their devices for instant solutions to whatever their need is at any given moment. Brands that can deliver these instant solutions are the ones that will thrive even during uncertain times. CMOs Localization and recognize that personalization fuels performance and better customer outcomes—with faster-growing businesses generating personalization efforts remain 40% more revenue through personalized content experiences than pivotal for a brand’s success their slower counterparts. Over half of the marketers surveyed in our research (54%) have identified improving localization and personalization efforts as key objectives in 2023. The data shows that enhancing personalization is perceived as more mission-critical at the executive level, with 60% of CMOs across industries prioritizing this (59% within consumer brands and 60% within tech companies).
Finding 2 To deliver exceptional content experiences that resonate with buyers, brands need to effectively coordinate the management Streamlining the creation of processes, data systems, and distribution channels. Working of digital content manually and in silos is time-consuming and often leads to errors experiences is top of mind that can harm a company’s reputation. The totality of marketers globally (98%) prioritize faster time to for marketers in 2023 market and/or the delivery of content experiences across platforms this year. We see the same percentages across industries, roles, and company type suggesting organizations around the world are currently struggling to meet consumer demand for relevant content in a timely manner.
“As our company scales and we expand into new markets we also need to localize assets and manage their distribution. With our team in the UK, a big priority for our design team is to enable that team who works the opposite hours of us to have full line of sight into the assets we are creating.” — Danielle Giroux, Creative Director at Clio
State of Content - Part 4 By repurposing existing content into new formats, such as infographics, social Driving more value media posts, video snippets, blogs, and podcasts, marketers can easily and affordably create a consistent content experience for their audience across various digital touchpoints. And by leveraging the right systems within a from content composable digital ecosystem, performance metrics can inform future strategies and help brands stay ahead of the competition. remains a top priority Repurposing content can be difficult without the right technology to speed up and scale content creation. Templates offer a solution for marketers and creatives alike, allowing them to avoid relying on expensive external agencies for simple Marketers who want to succeed while saving money and reducing content variations. reliance on external agencies are realizing the value of repurposing By incorporating efficient templating tools into their digital ecosystem, teams content in 2023—an effective but often overlooked content can easily reuse ready-to-go content, maintain brand consistency, eliminate strategy. Not only does it save production time, but it can also time-consuming design work with standardized visual elements, and automate boost search engine optimization (SEO) by keeping content up-to- processes to create large volumes of content quickly—resulting in faster speed to date, relevant, and easy to find. market.
“The number of assets we create is an enormous figure, so we need to make sure we manage this process efficiently, while also ensuring that we have a platform that allows us to reuse content— not only across brands, but across markets.” — Jonathan Ansell, Digital B2B lead at Britvic
Finding 1 Marketers worldwide recognize the cost-saving benefits of repurposing content to scale content creation while increasing Nearly 10 out of 10 CMOs plan content relevancy, particularly during challenging economic times. An overwhelming 84% of marketers plan to reduce inefficiencies to reuse existing content to and/or save costs by repurposing existing content on owned increase efficiency and/or channels—such as their website or via email. reduce spend This trend is even stronger among executives. 90% of CMOs at tech companies and 99% within consumer brands express intent to reuse content. When considering company type, intention to reuse content stands at 86% for companies operating both as B2B and B2C and 95% for B2B companies.
“Global marketing was becoming more and more of a bottleneck in terms of creating and delivering content. But also we didn’t have the right kind of platform. Basically, whatever we created wasn’t actually being fully utilized.” — Ozge Hatipoglu, Brand Project Manager at Milestone
Conclusion Due to economic challenges in 2023, marketing teams worldwide 66% of CMOs plan to invest in a DAM solution operating at the heart of a are reevaluating their content, reallocating budgets to choose composable, integrated ecosystem to drive tangible ROI and boost efficiency. the right tech tools, and rethinking their go-to-market strategies. Bynder’s cloud-based Digital Asset Management (DAM) solution provides a single CMOs want to improve efficiency, scale content, reduce costs, and source of truth for brand-, campaign-, and product-related assets. Its powerful functionalities, integrated modules, and broad range of integrations enable teams quickly respond to market changes while ensuring future success to create, store, manage, and distribute digital content efficiently, delivering a and preserving brand identity without overburdening their teams. world-class content experience. But, according to our data, many teams still rely on outdated Bynder’s DAM goes beyond managing digital assets by streamlining workflows, and disconnected legacy systems for creating, managing, and saving time and resources, accelerating time-to-market, and boosting webpage load speeds. It effectively allows brands to shift their application architecture to distributing their digital content. This hinders their ability to engage an ecosystem of modular building blocks that can be composed based on current with customers and deliver personalized content to the right needs. This way, teams can increase ROI and create business processes and people at the right time. digital experiences with the flexibility to adapt rapidly to changing contexts and needs.
Experience the power of Bynder’s cloud-based Digital Asset Management solution and transform your content strategy today. Sign up for a demo with one of our experts to see how Bynder’s DAM can help you streamline workflows, save time and resources, and deliver a world-class content experience.
Bynder goes far beyond managing digital assets. The digital asset management platform enables teams to conquer the chaos of proliferating content, touchpoints, and relationships in order to thrive. With powerful and intuitive solutions that embrace the way people want to work and a richly integrated ecosystem, Bynder is the brand ally that unifies and transforms the creation and sharing of assets, inspiring teams, delighting customers, and elevating businesses.
