Just wondering if there's a recommended approach to making contact reusable or if there is an existing package that could be used for reusable content? The approach that I was thinking about taking was to create a reusable content type which stores the content and then create a block where the content can be selected and rendered as needed. But I don't know if that's the best approach?

Global content blocks are an idea that will come in a future version: https://github.com/umbraco/rfcs/blob/0025-reusable-content-with-global-blocks-2/cms/0025-reusable-content-with-global-blocks.md. However for now, what we do is create a 'shared content' section in the content tree that houses content that can be reused all over the site by using pickers for instance. https://cdn.discordapp.com/attachments/1326981260895060018/1327187634044538922/image.png?ex=6782274d&is=6780d5cd&hm=d6f3cc7b1f90f26bdb0d026e310229208b3259be3791c64256361150abfedea8&