Content has been a big topic among my clients, lately, and that's a great thing. Generally, content ends up being the "step-child" of the web process, so I am happy that content is getting more attention.
We are always so focused on a great design or fantastic interactive functionality or good search engine rankings and content seems to fall by the wayside.
Often it is a process problem -- there are not resources in budget or staffing to produce consistent, quality web content. Many companies do not realize that after they have invested significant budget for web development, they do not have someone to produce great content.
Sometimes it is a problem of objectives: without a strong understanding of a web site's objective, determining what content works and how to convey it can be incredibly difficult.
The bottom line, however, is that though website visitors enjoy a nicely designed site and may like interactive functionality, they have really come to your site for you content.
So if you have killer content, then you are in good shape. But what if you don't? MarketingProfs.com has an excellent article on persuasive content today. Check it out.