With all the new buzzwords about a digital strategy doing the rounds, you would assume Earned, Owned and Paid media were part of your online marketing strategy, when in fact it should actually be the basis for your overall marketing strategy.
Think of Earned, Owned and Paid media as a three essential cogs of your business model. Each element is an important part of your cohesive marketing plan and they all contribute to a complete marketing strategy. It’s up to you to evaluate the three areas so you can decide where to allocate your resources.
Any online or offline mediums or collateral that you can control is unique to your brand. The most common online examples are website(s), blog sites and social media platforms. The more effective these are at talking to each other, the more chances you have to extend your brand presence in the digital sphere. Offline mediums are mainly collateral, brochures or anywhere that your image appears in the public arena.
It is the vehicle that helps people get to your owned media. Not dissimilar to offline, Earned Media online is essentially all about word of mouth, usually seen in the form of mentions, shares, reposts, reviews or referrals. When it comes to brand content, interesting and informative content can come in all shapes and sizes.
Whether it is a blog, infographic, video, press release, webinar or e-book, the bottom line is that the content has to be worthwhile in order to receive the valuable earned media. This is why good search engine optimisation and a logical content strategy enhances your marketing strategy.
Paying for online or offline initiatives creates more exposure. With online campaigns, Social Media platforms can identify the persona profile of your target audience and cut through the clutter. Another way to gain more exposure for your content is to pay influencers, have PR strategies, CSR initiatives, sponsorship or affinity deals.
It has also been proven that over time the ROI from earned media out performs that of it’s paid media counterpart. That said, paid media is a great way to promote your USP (Unique Selling Point) in order to generate more earned media and it can also be used to drive traffic directly to your owned media properties online.