Where is the content marketing industry headed in 2024
According to Content Marketing Institute, the total addressable market (TAM) for content marketing is estimated to be $500 billion in 2023. This figure is expected to grow to $813 billion by 2028 at a compound annual growth rate (CAGR) of 9.7%.
The TAM for content marketing is so large because businesses of all sizes increasingly use content to attract and engage customers. In fact, a recent study by Ascend2 found that 91% of businesses now use content marketing, and 60% consider it a very important part of their marketing strategy.
The growth of the content marketing TAM is being driven by several factors, including:
- The increasing importance of digital marketing: As more and more consumers spend time online, businesses are increasingly turning to digital marketing channels to reach them. Content marketing is a highly effective digital marketing strategy that can be used to attract organic traffic, generate leads, and nurture customer relationships.
- The rise of social media: Social media platforms are a powerful way to distribute content and reach target audiences. Businesses that use social media effectively can use content marketing to drive website traffic, generate leads, and build brand awareness.
- The demand for high-quality content: Consumers are more discerning than ever before, and they are demanding high-quality content that is relevant to their interests. Businesses that can create and distribute high-quality content are well-positioned to succeed in the content marketing space.
Here are some of the key segments of the content marketing TAM:
- Content creation: This segment includes businesses that create content for other businesses, such as content marketing agencies, freelance writers, and designers.
- Content distribution: This segment includes businesses that help distribute their content, such as social media management companies, email marketing providers, and search engine optimization (SEO) firms.
- Content technology: This segment includes businesses that provide technology solutions for content marketing, such as content management systems (CMS), marketing automation platforms, and analytics tools.
The TAM for content marketing is expected to grow in the coming years as businesses continue to invest in this effective and cost-effective marketing strategy.
Why is that?
What does it mean for you and your business in this industry? What are some predictions for 2024? Read on to find out.
Content marketing industry growth is on a tear. We will go over the content marketing industry analysis and the content marketing industry size.
The future of the content marketing industry is looking bright, with a predicted increase from $200B-$300B in just 10 years. To capitalize on this growth, businesses must create high-quality content that resonates with their target audience and converts them into buyers.
Content marketing is a booming industry that will continue to grow in 2023.
The content marketing industry is worth over $200 billion and growing, but many businesses still struggle to capitalize on this growth.
To take advantage of the content boom, you must create high-quality content for your target audience.
This means understanding who they are and what they want from your business so you can create valuable pieces of information that resonate with them.
If you’re unsure where to start, here’s a guide we put together about how to get started with content marketing in 2023!
What is the content marketing industry about?
The content marketing industry is a booming business. It is predicted that the industry will continue to grow in 2023, with the main industries benefiting from the automotive, travel, and retail sectors.
In particular, the automotive sector will significantly increase website traffic and leads thanks to well-crafted and targeted content.
The content marketing industry is a multi-billion dollar business focusing on creating and distributing branded content to attract consumers.
The customer lifecycle looks like this:
- Content Provider (e.g., Manufacturer) makes great content. This could be articles, videos, podcasts, etc.
- The consumer finds this content, often times through social media. The consumer likes the content shares it with other consumers.
- One of the consumers is interested in purchasing a product or service associated with this content (e.g., buying SaaS software).
- The Manufacturer’s Sales department sees an increase in website traffic resulting from targeted & relevant content.
Other industries that will benefit are the automotive, travel, and retail sectors which rely heavily on the internet and digital marketing.
The automotive, travel, and retail sectors will significantly increase website traffic and leads thanks to well-crafted and targeted content.
The automotive sector
To take advantage of this growing industry, businesses in these sectors must create high-quality content relevant to their target audience.
Businesses also need to invest in digital marketing to reach their target audience, including platforms such as social media, email marketing, and SEO.
Content marketing costs are still at a low point when compared with other forms of advertising. Likely, this number will only increase as the industry continues to grow.
To succeed in this growing industry, businesses must invest their time and money into creating great content that will resonate with consumers.
The content must be relevant, engaging, and informative to attract consumers and convert them into buyers.
Once you’ve created your content, it must be optimized for search engines so your potential customers can easily find it.
Finally, businesses need to invest in digital marketing. This includes platforms such as social media, email marketing, and SEO. With content marketing predicted to grow by 32% each year until 2024, now is the time for businesses to hop on board!
Other industries that will benefit
Thanks to well-crafted and targeted content, the automotive, travel, and retail sectors will significantly increase website traffic and leads.
Each of these sectors relies heavily on the Internet and digital marketing and will benefit from this channel as customers become more reliant on online resources for their research. Financial, engineering, and software are great industries as well.
Here are 25 more industries that can grow and attract new customers through content marketing:
- Tradeshow Hosts / Promoters
- Freelancers
- Educational Institutions
- Accommodation & Hospitality
- SaaS
- Long-term Health Care / Retirement Home
- Debt and Credit Repair
- Personal Assistant
- Organization
- DIY Services
- Warehouse, Storage, and Distribution
- Employee Training & HR
- Chiropractics
- Orthodontists & Dentists
- Plastic Surgeons
- Renovation & Remodeling
- Wine & Spirits
- Luxury Goods
- Fine Jewelry
- Market Research
- Public Relations
- Import / Export
- Veterinary
- Roofers
- Plumbers
How it can benefit your business and what you need to do to succeed in this industry
If you’re looking to succeed in the content marketing industry, it’s important to understand how it can benefit your business.
The automotive, travel, and retail sectors are just a few industries that will significantly increase website traffic and leads thanks to well-crafted and targeted content.
To take advantage of this growing industry, you must create great content that will resonate with your target audience.
This content must be relevant, engaging, and informative to attract consumers. You also need to make sure that your website is optimized for search engines so that potential customers can easily find your content.
Finally, you must invest in digital marketing to reach your target audience. This includes platforms such as social media, email marketing, and SEO.
The future of the content marketing industry, including predictions for 2024
The future of the content marketing industry is looking bright. Predictions for 2022 include that the industry will be worth over $300 billion, with the main beneficiaries being the automotive, travel, and retail sectors.
To capitalize on this growth, businesses in these sectors must focus on creating high-quality content relevant to their target audience.
This content must be well-crafted and targeted to attract potential customers and convert them into buyers.
The content marketing industry is booming and will continue to grow in 2022.
The customer lifecycle looks like this:
- Content Provider (e.g., Manufacturer) makes great content. This could be articles, videos, podcasts, etc.
- The Consumer finds this content frequently through social media. The Consumer likes the content and shares it with other consumers.
- One of the consumers is interested in purchasing a product or service associated with this content (e.g., buying a car)
- The Manufacturer’s Sales department sees increased website traffic resulting from targeted & relevant content.
How Matrix Marketing can help with content marketing
Matrix Marketing is a digital marketing agency based in Denver, Colorado, that can help businesses take advantage of the content marketing industry.
We specialize in creating high-quality content that is relevant to your target audience. We also know how to optimize your website for search engines so potential customers can easily find your content.
We also know how to invest in digital marketing to reach your target audience. This includes platforms such as social media, email marketing, and SEO.
Matrix Marketing Group is the perfect partner for you if you’re looking to capitalize on the growth of the content marketing industry.
Conclusion on the content marketing industry
Content marketing is a booming industry that will only grow in the next five years. You must create engaging and informative content for your target audience to succeed in this thriving market.
You also need to ensure that your website is optimized for search engines so that customers can easily find what they’re looking for on your site.
Finally, you should invest in digital marketing platforms such as social media or email campaigns to reach people outside your local area.
If all these things sound like too much work and you want help with any aspect of content marketing strategy, Matrix Marketing Agency would love to partner with you!
We specialize in creating high-quality content while helping businesses optimize their websites and exploit emerging online trends via digital marketing.
FAQs about the content marketing industry
What is content marketing?
Content marketing is creating and sharing content to attract and retain customers. This marketing type differs from traditional advertising techniques, which rely on paid placement and interruption-based techniques. Content marketing focuses on providing valuable information to potential customers to establish trust and credibility.
How does content marketing work?
Content marketing is creating and sharing content to attract and retain customers. This marketing type is different from traditional advertising techniques, which rely on paid placement and interruption-based techniques. Content marketing provides valuable information to potential customers to establish trust and credibility.
What is the difference between content marketing and public relations?
People who just want to spend their budget on the cheapest ads don’t care about establishing trust and retaining customers.
Who can benefit from content marketing?
Any business can benefit from content marketing. Creating valuable content relevant to your target audience can attract and retain customers while establishing trust and credibility. You can also increase website traffic from organic search engine efforts and convert more visitors into buyers. In short, content marketing is a versatile and effective strategy that any business can use to reach its desired results.
