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Wednesday, 6 November 2019

What is Paid Media, Owned Media & Earned Media

Marketing is definitely not as easy as it seems. And surely it doesn’t rely on any one maneuver. If you want to generate leads and highlight your business in this world of intense and stringent competition, then you need to recognize and interpret the exposure of media.
“The goal of social media is to turn customers into a volunteer marketing army.”- Jay Baer

Just like marketing strategies, there are different kinds of media that can be used as desirable tools at crucial times. If you have been wondering about them, here is an insight for you to know all the marketing media type and information that you need:
OWNED MEDIA
Owned media is the type of media that you have leverages on. You become the proprietor of these kinds of media and have complete rights to vary, change or modify the content assigned to them. Consider for example your facebook pagecompany blog or your website. In simple terms, all these belong to your business and you are the primary owner of these media, even though YouTube channel or facebook page is not owned by you in technical terms.

Role

You don’t need to pay for your owned media. The fundamental role played by owned media is to establish and maintain a long-lasting relationship with your customers and subscribers. With the provisions of owned media, you also entice and interest your potential customers. Owned media provides controlled instead of overly promotional information about your company. The role of owned media can be determined from the fact that most prospects decide whether it is trustworthy to work with you or not, depending on the content and presentation of your owned media.

Benefits

Owned media has its own preserved benefits. It is cost efficient as you do not have to pay for its use. Consider your blog for which you do not pay any costs to post content about your company. It also gives you accession rights to alter the communiqué and content regarding your company. This facilitates you with versatility and longevity. However, you have a niche audience and those who know about your business seem to be attracted towards it.
Though owned media takes time to scale, it helps your prospect focus on your authenticity in many cases.

Example of owned media

  • Facebook page
  • Blog posts
  • Website or mobile site
  • Twitter account
  • Youtube channel



EARNED MEDIA

Earned media is a mouth to mouth, spread of word. When people share your blog or facebook posts it is a kind of earned media. These shares are done voluntarily by people, thus considered as earns. Thus, more will people have discussion on social platforms regarding your business; more will be the earned media for your company. In simplest terms, it is the exposure that is received by your brand in the social circle.

Role

The underlying role of earned media is to encourage the number of positive social mentions. It is a synchronous result of perfect co-ordination of owned and paid media. With the outspread of digital marketing, social sites like facebook have become an indispensable part of our lives. The popularity of media platforms like Twitter has raised that has led writers and bloggers to get access to your owned media and business to derive quotes and insights from it. This helps you earn accreditation and reputation on the social upfront.

Benefits

Earned media helps to establish trust with your existing prospects and introduce new leads as an opportunity. It also provides major benefits in sales. Since most of the people trust social media, earned media also increases a level of transparency for your business. The best part is that social media does not seem fading anytime soon, so over time as your mentions increase on platforms like Twitter, Quora etc, you will continue to entitle to ever increasing social status. Earned media can also help in closing deals for sales and attracting wide potential prospects.

You need to keep a keen eye regarding your earned media as negative impact might lead to unwanted results for your brand image. According to a survey, 54% of B2C companies generate their revenue from social media leads.

Example of earned media

  • Positive reviews
  • Reposts and shares
  • Recommendations
  • Press mentions

Image source: titan-seo

PAID MEDIA
The last kind of media that helps you digitize, is the paid media. Paid media is the kind of media you pay to achieve an edge and get promoted. In today’s world when businesses are racing to be in the upfront, you need an extra hand for your voice to be heard. Thus paid media comes to your rescue for this. Statistics suggest that 76 percent of the businesses use promoted posts and search engine marketing techniques.

Role


Paid media mainly drives your promotion. When facebook asks you to pay to boost your page it is a kind of paid media. The job of paid media is to boost your content in such a way that it reaches to the relevant prospects and potential customers are increased.  Paid media is, in other words, helping you drive more mentions for your earned media. There are a variety of techniques that social media strategies can foster your content and make your voice appear the loudest in the social circle.

Benefits


Paid media plays the role of a catalyst and serves your owned media, thus creating more earned media. It can be controlled easily, as you pay for the services you require. It can be extended to the scale as per the requirement of the business to read the desired audience.
Set a budget for your paid media and segment your target audience. The target audience can be decided based on likes, interests, hobbies, business, profiles etc. The reason that most companies use paid media is that they want their gated content to be present before their audience at the right and precise moment.

According to a survey, companies found that there was a 500% higher visitors-to-leads conversion rate of their landing page through sponsorships.

Example of paid media

  • Sponsorship
  • Advertising on third party sites
  • Paid advertisements by facebook, Twitter etc.
  • LinkedIn
“Awareness is fine but advocacy will take your business to the next level.”- Joe Tripodi

WHAT ARE TOOLS POPULAR FOR PAID MEDIA IMPLEMENTATION
Statistics suggests that 97% of the customers search for businesses online. It thus becomes essential that your story appears in the upfront at the moment they need it. Paid media can help you achieve all of this. Here is a list of the most popular tools that will uplevel your marketing campaign:

Sprout social


It is one of the top social marketing tools in the market. It helps you to exercise better control on your efforts. It facilitates access from directorial level to lower level team members for a better command over data, with the post scheduling capabilities. It is equipped with a detailed analytics platform along with the social listening platform that provides you detailed insights into your demographics. In other words, it is an all in one social marketing tool.
Image source: Sprout social
MeetEdgar

If you were waiting for a tool to recycle your old posts, MeetEdgar is the one for you. It allows social media scheduling so that you can organize your posts by category. It takes care of the rest by automatically going through each post and posting them. Once it is done it starts recycling your older posts and updates.
Image source: meetEdgar

Buffer

Another one of the most popular tools that are used in the industry is Buffer. Buffer makes scheduling your social media posts easy. It even assists you to specify the patterns of posts such as ‘weekdays’ or ‘everyday’. Buffer also lets you analyze your most popular posts along with the reason that made them effective. If you share three posts through Buffer, this means that you stay 3 days ahead all the time.
Image source: entrepreneur.com
Google Analytics

You can handle real-time analytics of your business with Google analytics. It does everything, from monitoring the traffic of your website to telling you about who’s on your site right now. In short, it gives you a wide variety of information that is huge and statistical.

Image source: entrepreneur.com

Kissmetrics

Kissmetrics wins the popular choice awards for media implementation. It promises increased engagement and retention throughout your business’s growth cycle. It aligns your media updates and posts with customer behaviour for a fueling business growth. It gives you exact reasons to why visitors on your site convert, along with the roadblocks that lead to non conversions.
Image Source: Kissmetrics.com

How paid media can help enhance owned and earned media?

Engage audience with paid promotion


Paid media can be used to drive promotions in a number of ways. It gives you an increased number of mentions through the earned media. Consider for example the advertisement for boosting your page and content on facebook. It amplifies the audience for your post, once you pay a certain amount. Thus, paid media is opening channels for increased mentions or earns, ultimately socializing your content.

Increased web properties like SEO

Paid media does ano performs the inther job for you. It performs the inimitable task of boosting your owned media contents through SEO and PPC. SEO is Search Engine Optimization that basically lets people get access to your posts in owned media, when they type relevant keywords on search engines. PPC on the other hand, is the abbreviation for Pay per click that is yet another efficient way of publicizing your posts. PPC Advertising programs that are provided by Google AdWords or Yahoo Search Marketing let you pay for the traffic on your website per click. These marketing strategies can serve wonderfully for your owned media. The paid media lends a wonderful hand to your owned media as at the end of the day, it is your owned media that establishes trust and credibility with your existing and potential prospects.
Image source: Marx Communications

The correct integration of these kinds of media can help any business achieve the desired exposure and outreach, so that their voice is heard to their potential prospects. Thus, the critical success to your lead generation efforts becomes easy when media is understood in a collaborative way, instead of isolation. Go ahead and combine these techniques to grow and flourish your business.





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