69% of global marketers increase spend on content in 2023: Report

The Bynder report found that the increased investment in content creation, management, and distribution was a tactical decision to be more agile and adaptable during uncertain times.

Research from Bynder’s inaugural State of Content report has revealed that despite the current economic climate, 69% of global marketing teams have increased or maintained their spend on content creation, management, and distribution this year.

The survey of 1,297 global CMOs found that the increased investment in content creation, management, and distribution was a tactical decision to be more agile and adaptable during uncertain times.

Bynder’s survey also revealed CMOs are planning to review their existing martech stacks to identify and remove redundant or unused services and invest in technology that unites various solutions into a connected ecosystem. More specifically,  83% of marketers are focused on consolidating their technology systems and reducing agency spend this year.

In addition to this, streamlining the creation of digital content experiences was also top of mind, with a staggering 98% of those surveyed prioritizing faster time to market and the delivery of content experiences across multiple platforms this year. In particular, speeding up time to market was noted as a top priority for two-thirds of marketers worldwide.

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The data also revealed that 85% of marketers intended to invest in a digital ecosystem powered by DAM. 

Warren Daniels, CMO at Bynder, said: “Content is a strategic business asset, and despite tough economic headwinds, our State of Content report has shown that global marketing teams are increasing or maintaining their spend on content creation, management and distribution, as this is where they believe they will see the most return on investment.

“The demand for targeted content across a number of touchpoints is also growing at a faster rate than ever before, so having a single source of truth in the form of a digital asset management system is the key to unlocking better content experiences for customers as it can provide efficiencies and insights that can really fuel marketing efforts.”

The State of Content report also delved into the attitudes of experienced marketers towards content goals, challenges, and future investment.

The majority of marketers recognized the cost-saving benefits of repurposing content, particularly during tough economic times, with 84% of marketers planning to reduce inefficiencies and save costs by repurposing existing content on owned channels.

Over half of marketers (54%) identified improving localization and personalization efforts as key objectives in 2023. The survey revealed that enhancing personalization is perceived as more mission-critical at an executive level, with more than half (60%) of CMOs across industries prioritizing this. 

You can read the full report here: Bynder State of Content report