Digital transformation has changed the world in almost every possible way. In the world of marketing, content marketing is considered as the base of a successful digital marketing campaign. This is because behind every successful brand there exist heaps of valuable and relevant content that deeply connects with the target audience of that business.
Porter’s Five Forces Analysis for Content Marketing Industry
- Bargaining power of suppliers
The Content Marketing Industry has high concentration of large, medium and small-scale dealers. The changing costs of the products from one dealer to other are predicted to be high.
The bargaining power of suppliers is High.
- Bargaining power of consumers
The presence of a large number of customers and the complexity in finding precise content for marketing are resulting in High bargaining power of the customer
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- Threat of new entrants
The cost associated with Content Marketing Industry is lower than that of traditional systems. This aspect for the Content Marketing Industry is diversified, owing to wide applications from end users.
The threat of new entrants is high.
- Threat of substitutes
Content marketing has very less substitutes for any product and technology, resulting in low shifting costs for customers.
The threat of substitutes is Low.
- Competitive rivalry in the industry
This market contains a high concentration of large, medium and small sized players. Most of the participants are following same approaches for the development of technologies.
The competitive rivalry in the industry is high.
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What is content marketing
Content marketing is a type of marketing which includes strategic planning for creating and distributing relevant, valuable, and consistent content for building customer interest and retaining clearly defined audience. The benefits of content marketing are not just limited to attracting clients and making profit but there are a few other advantages which cannot be measured in terms of revenue. Some of these advantages are obtaining quality backlinks, building relationships with your customers, educating the target customer base, or generating leads to your business, content marketing will help you in all. Due to all these factors, the growth of content marketing has been explosive and is expected to gain more demand in the upcoming years.
Growing demand for content marketing
Many companies are now investing in content marketing systems and tools for increasing the engagement rate of consumers, bringing in personalization in marketing campaigns, and promoting products & services. Moreover, the increase in the use of content marketing software by the marketers and business owners as a strong platform for promotion and as a tool for enhancing the consumer relationship are expected to propel the growth of content marketing industry. Additionally, in terms of cost, content marketing is much affordable as compared to the conventional advertising methods. Apart from these factors, content marketing is a perfect strategy for building brand awareness. Moreover, growing use of omni channel messaging with clients using messaging channels like twitter, Facebook, WhatsApp, and other social networks is anticipated to drive the growth of the market. All these factors clearly indicate that the market for content marketing is sure to flourish and generate profitable income in the future.
Content Marketing Industry Segmentation by Channel Type
- Social Media
- Video Platform
Recent developments in the content marketing industry
Considering the growing demand for content marketing from various business sectors, many advertising as well as marketing companies have started involving in activities that can help them in making a strong foothold in content marketing industry. Recently, Jack in the Box Worldwide, a media-agnostic communications firm, has introduced a novel business model that empowers creative commerce for its clients.
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- HubSpot, Inc.
- Percolate Industries, Inc.
- Influence & Co.
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JITB developed a new business model which is focused on offering fascinating content for its clients through a performance-based system, backed by analytical data. With this model, the firm has helped the conventional digital advertising to go beyond traditional content marketing.
Apart from Jack in the Box Worldwide, there are many other organizations that are currently building the future of content marketing industry. Some of the top players in this industry are Contently, Kapost, Percolate Industries, Inc., Sprinklr, Adobe, HubSpot, Inc., CoSchedule, Influence & Co., NewsCred, Scripted, and others. These organizations are coming up with several new content marketing strategies, tips, and tools for helping marketers run their campaigns which is boosting the growth content marketing industry at an increased speed.
Future scope of content marketing industry
The competition among businesses is growing rapidly with the growing digitalization all over the world. With the increasing competition among businesses, the global content marketing industry is foreseen to reach greater heights in the near future reveals a report by Research Dive. According to this report the market is estimated to grow with a healthy growth rate of 14.3%. Especially, the countries in the North American region are expected to contribute majorly for the growth of market. Whereas, Asia Pacific region is expected to offer profitable opportunities for the new entrants in the content marketing sector. This because of the rising demand for content marketing by automotive and electronics industries for the marketing and promotion of their products in this region. Considering all these factors it is clear that the industry for content marketing is going to witness continuous growth in the upcoming years.
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