Consumers willing to pay more for brands that engage online

Consumers and business buyers are willing to pay up to ten per cent more for goods and services from brands that offer them interesting content and engaging social media experiences – according to new industry leading research.

The data, from Axonn Research, found more than two-thirds of consumers (67%) are more likely to buy from brands whose content they enjoy - even if it costs them between five and ten per cent more than from a brand that doesn't publish content or engage on social media.

The researchers discovered 68 per cent of respondents want brands to publish content. They are also willing to supply contact information in exchange for premium content such as white papers with more than half (56%) happy to give brands their details.

Nearly three-quarters of content marketers say their efforts have led to an increase in traffic to their websites, while more than half (55%) credited content marketing for an increase in sales.

The most widely used content type is social media (88%), followed by email campaigns (77%), news articles (71%) and blog posts (64%).

The research also found that nearly two-thirds of marketers (65%) simply didn’t have enough time to execute their content marketing strategies effectively, with a lack of human and financial resources and expertise cited as the main constraints.  

Commenting on the research, Axonn Media CEO Fergus Parker said: "Since the term's inception in 2009, 'content marketing' has become one of the main ways organisations attract and engage with their online audiences and this data shows this is paying off with increased sales.

“It’s important for businesses to note that their online efforts are being rewarded with a willingness amongst consumers to pay five to ten per cent more for their goods and services, which can make a real difference to the bottom line.

“As is often the case a lack of time, finance and expertise were cited as the main reasons why firms didn’t interact more with their target market, something which business leaders may wish to look at in light of this positive new data.”

He concluded: “Content marketing is one of the fastest growing forms of marketing and, with more than half of those quizzed noting a sales increase due to their efforts, it’s understandable why.”

The full research is available for download on the Axonn Research website.