If you want to improve your marketing strategy, you need to understand the difference between different types of media. By choosing the most valuable types, you can reach better results.
Your marketing campaign can be devised in many ways. Your final result relies on cross-channel engagement. You can meet all your marketing goals if you use the following media elements: paid, owned, or earned media.
Many marketers hear these terms often but they do not have a clear understanding of what they exactly mean. There are crucial differences. So, we are going to learn them to achieve the maximum success during the marketing campaign.
There is nothing simpler to understand what owned media is, as it mainly refers to the media created by the. You control and maintain it fully. Usually, it includes your corporate site, blog, newsletters, and social media profiles. It is good when your company has a lot of different owned media channels. It helps to improve the digital footprint and reach a lot of new clients and followers.
The best thing about owned media is that you, as a business owner, have complete control over the messaging features. You can deliver it without paying extra costs. Owned media is able to generate the 1st-party data for designing excellent contextual experiences.
During the COVID-19 period, owned media was playing the most important role for many companies. It was used to connect brands with clients and subscribers. When you think about getting the maximum of owned media potential, you should focus on helping your clients in making their lives better, rather then non-stop talking about our brand.
Paid media is any channel you pay for promoting your business. A marketer or business owner cooperates with 3rd-party platforms in order to broadcast the message to reach a bigger audience, which consists of your new and past clients. You can use displayed ads, TV/radio channels, top influencers, search engine marketing, or social media platforms marketing.
It is very difficult to build brand awareness without paid media. It helps amplify your brand reach via social platforms. It is recommended to spare around 20% of your promotion campaign budget to achieve positive results.
Earned media priceless as it mainly refers to company’s mentions, social media awareness, and content produced by 3rd-parties. The best thing about earned media is that it can be achieved only in an organic way. At the same time, it is not easy to earn people’s attention. Work hard to study your audience and spread messages which resonate to people’s interests.
The best samples of earned media are shares, reviews, mentions, and reposts from 3rd-parties. It is a good sign when your company gets mentioned in magazines, TV, radio, and social media platforms. If you face difficulties with earned media, you can use the services of a professional PR agency. Experts will improve communications with potential clients.
Public Relations vs. Media Advertising
You can see that the difference between paid and earned media is how much benefit it can provide. Speaking about earned media, the overall coverage can be 4 times more compared to the cost of ads. Paid ads are efficient as well, only to make sure that your ads are delivered by credible media sources. Once you start to understand how media works, your marketing campaign has higher chances to be successful. It will take a while to polish your skills of media promotion but the results and increased income are worth your time and effort