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If you work in advertising, you’ve heard the famous quote: “Half the money I spend on advertising is wasted; the trouble is I don’t know which half.”
In today’s world where budgets and purse strings are being tightened, marketers can no longer waste their marketing budgets. Yet, in the world of content, this often happens when clients commission work without truly understanding how it can go the distance for them.
So how exactly should we curb this waste? In a conversation with MARKETING-INTERACTIVE, media veteran Phin Wong, who currently heads content marketing and lifestyle media at SPH, debunks some of the myths around content marketing.
Wong first started his journey editorially, and now walks the fine line between content and commerce with Content Lab, SPH Media’s content marketing unit. He shares that one mindset we need to shift is in regards to the idea of “newness”, and instead, make existing content go the distance. Marketers must embrace existing pieces of content to make it work harder and go further.
If you want to find out how you can make the most out of your content marketing spend, listen to our podcast here.
MARKETING-INTERACTIVE: They say 50% of your money is wasted in advertising, but you don’t know which half. Is that the same in content marketing? What does wastage mean in content marketing?
Wong: I think for me, the wastage is when people start creating content, or commissioning content, without actually knowing why they are doing it.
Many people are not spending enough time figuring out why they’re creating a certain type of content or what they want to achieve with that content. And to me, that is the beginning of wastage.
Budgets are not infinite and we all have a fixed budget to work with. But it’s not just wastage of actual money itself, but also a waste of man hours and good ideas. We’re wasting the blood, sweat and tears that goes into content creation, and good content creation takes work. It’s a lot of effort…
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