By Kate Flinn
There are three major strategies digital marketers use to direct traffic to the brands they represent. This ‘trifecta’ features paid, earned and owned media. Individually, each of these strategies can fulfill a fixed need. Utilizing all three simultaneously allows marketers to develop a diverse strategy and build relationships with new and existing customers alike. Given the ever-evolving digital society we live in today, most industry professionals believe intermingling all three is essential. Here is a glimpse at each strategy and the coinciding benefits:
Anything from pay-per-click advertising to social media promotions to traditional print placements can fall under the ‘paid media’ umbrella. Before the rapid expansion of the internet and social media made information so easily accessible, this was marketer’s primary means of gaining exposure. While paid media remains a major player in the digital marketing world, it is often considered less credible and can’t necessarily stand alone without its earned and owned counterparts.
Gained through physical or digital word of mouth, earned media is unpaid content picked up by third party sites and users. The internet, social media and blogging platforms have significantly increased the visibility of earned content. Earned media can be gained through shares, reposts, mentions, reviews or just standard digital media coverage. This is by far the most affordable of the trifecta, requiring marketers’ time instead of their budgets. By having no direct association with the content, earned media is an excellent option for building trust and brand credibility.
Anything created, or fully controlled, by a brand can be considered owned media. Whether it be through their own website, blog or various social media accounts, this type of media is great for to maintaining relationships with existing customers. A major benefit of owned media is that brands have full control over the message and the way it is presented to the public. In comparison to paid media, this strategy is somewhat cost effective, but potential customers are less likely to accept communication directly from a brand as credible.
Finding a balance between these three types of media is essential for an effective marketing strategy. Utilizing both traditional and modern strategies will get your brand in front of a larger, more diverse audience.
Kate Flinn, Creative Content Producer