Switching your marketing focus to content over product is definitely the correct choice, however, there are several factors one must consider before making the transition.
Do you have the manpower?
Content marketing is more than joining social media, writing some words on a blog source and email blasts. Your team must be capable to engage, interact and attract your audience on social media which requires hourly monitoring. Blogs need hours devoted to writing, research for posts, multi-media channel sharing and monitoring for comments and followers. Depending on your strategy you will need a team not only to implement, create, build and distribute your content but also, attract an audience for your content.
Do you have a solid strategy?
Create content, how hard could it be? Content marketing is all about educating and attracting your audience. To successfully do this you must know your audience. Some basic questions to start with are;