Monday, October 2, 2023
HomeVentureLesson #354: Owned, Paid and Earned Media Channels

Lesson #354: Owned, Paid and Earned Media Channels


Efficient entrepreneurs know the “trinity” of media technique is successfully speaking your story throughout the intersection of three distinct media channels: owned media, paid media and earned media.  This submit will demystify these channels for you, to make sure you are successfully advertising throughout all three.

Owned Media

Owned media is strictly what it seems like, properties that you simply personal and fully management. That features belongings like your web site, cell apps and e mail database.  That features methods of speaking to your prospects via these belongings, like web site design, advert creatives, e mail advertising and SMS textual content based mostly advertising.  And, lastly, it contains knowledge analytics, reporting and conversion charge optimization instruments that enable you glean actionable insights out of your owned media actions.

Paid Media

Paid media is shopping for your means into getting found.  For many startups, that features issues like paid search adverts (e.g., Google, Microsoft), paid social adverts (e.g., Fb, Instagram, LinkedIn, TikTok, Pinterest, Twitter), paid procuring listings (e.g., Google, Amazon, Walmart) and show promoting throughout numerous websites or programmatic promoting networks throughout the Web. This too requires disciplined monitoring and reporting instruments, and may assess marketing campaign efficiency/conversions and correctly attribute cross channel advertising touchpoints to a particular buyer.

Earned Media

Earned media is taking actions, aside from paid promoting, that end in getting your corporation promoted on third occasion web sites.  This contains issues like SEO for natural visitors, press releases that get picked up by different publishers, content material advertising in your weblog that will get listed by engines like google, internet online affiliate marketing and social media communications or influencer advertising that get shared virally via the social networks.  Once more, supported by any required monitoring and reporting instruments for measurement and optimization.

An Built-in Holistic Strategy Spans All Three Media Channels

In case you are merely sending your messaging via one of many above three channels, you might be leaving a variety of potential progress alternatives off the desk. It will be important for every marketing campaign you might be managing that you simply embody a method and finances for all three of the above channels, as the true advertising magic occurs when they’re working concurrently throughout all three channels.  You need to be sure wherever your goal customers are partaking, that your message is displaying up loud and clear.  That features in your websites, marketplaces, information articles, engines like google, social media or wherever else prospects could also be in search of inspiration prior to buying merchandise.

Methods to Handle This

Bigger corporations sometimes have departments of folks that do every of those stand alone duties required. However in smaller companies, they do not have that luxurious.  So, they usually need to depend on companies that may help them with every of the above wants.  Some corporations interact particular companies for every level resolution (e.g., an search engine optimisation company to help with natural search visitors progress). Some corporations interact one company that may operate throughout all channels, and do the entire above via one service.  

It’s tougher to discover a good “Jack of all Trades” that may do every of those providers properly, in a single company.  However, they’re on the market.  So, if you’ll find them, that’s the popular path, as they will present many benefits for you.  They’ll allow constant purpose setting and messaging throughout all channels.  They’ll additionally higher enable you with cross channel attribution measurement, by centrally managing all channels in a single company.

However, in all circumstances, it’s vital you lay out your clear key efficiency indicators of success, and measure them religiously. That may very well be setting decrease funnel targets like leads, conversions or gross sales.  Or it may very well be setting higher funnel targets like model consciousness, model intent or buyer database progress.  Work out what KPI is most essential for your corporation and targets, and ensure all individuals doing the work, internally or externally, are measuring every of the above campaigns, throughout all channels, towards the agreed upon KPI metrics.

Closing Feedback

Hopefully, to a lot of you, you might be already doing a variety of this in your present advertising efforts.  However, for these of you that aren’t, successfully managing every of those three channels is just about “desk stakes” right this moment, for establishing a profitable advertising marketing campaign.  Good luck!!

For future posts, please comply with me on Twitter at: @georgedeeb.



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