Online engagement, from captivating headlines to entertaining videos, predominantly consists of content crafted for a company’s content marketing strategy. Over 50% of businesses employ content marketing, as it significantly boosts conversions by a factor of six. This raises the question: How do you allocate a budget for content marketing? The effectiveness of your strategy and the quality of your talent are heavily reliant on your content marketing budget, and insufficient budgeting can lead to subpar designs and execution.Managing a content marketing budget can quickly become complex with multiple content types and target audiences. This post provides insights on:
Calculating a content marketing budget
The cost of various content marketing formats, such as blog posts
Proper budgeting for content marketing
Continue reading to discover how to establish your content marketing budget — and if you require assistance, turn to WebFX. With over 100 specialized writers and experienced content marketers, we can create exceptional content that drives traffic, engagement, and revenue!On average, businesses allocate 25-30% of their marketing budget to content marketing. For businesses with less than $5 million in revenue and a profit margin of 10-12%, this equates to 7-8% of their revenue. For instance, a business with an annual revenue of $3 million would set aside $210,000-$240,000 for marketing — or 7-8% of their yearly revenue. A content marketing budget, following the average of 25-30%, would range from $52,500-$63,000.Understanding the costs associated with different content types is crucial when budgeting for content marketing. For example, what is the cost of producing a blog post or a professional YouTube video?Gain insights into content types and their average costs with our video and text analysis.Long-form content, which performs exceptionally well, often requires several hundred to a few thousand words. Consequently, outsourcing blog posts can cost up to $2000, with the service typically including professional editing. Some content marketing agencies, like WebFX, may even offer graphic design services.2. EbooksBudget: Free – $4500+Professional freelance writers are often compensated by word count, resulting in ebooks or in-depth guides costing $4500 or more. These materials generally contain several thousand words and professional graphics.Strategic content partnerships with relevant websites can also be explored as part of the planning phase. Budgeting for content marketing is essential to understanding the costs and factors involved in digital marketing strategies, whether it’s content marketing or SEO.Here are three tips for budgeting for content marketing:Answering these questions will allow you to build a more precise budget, as you’ll have a clear understanding of your goals, the resources needed to achieve them, and how to measure progress.Explore our content marketing plans to see the various ways you can allocate your budget effectively. For personalized assistance, contact us online or call us at 888-601-5359 to discuss your mid-sized business and its content marketing requirements!
