Owned, Earned and Paid Digital Media
The digital world is driven by technological tools, data and people. There are various digital assets we need to invest in; directly or indirectly to have an edge in today’s competitive world. All your digital marketing activities takes place on various platforms and you have different measure of control over each. There are 3 basic digital assets:
Owned Media are digital platforms you have control over. There are fully-owned media and partially-owned media. Your website is an example of a fully owned media, while your various social media accounts are examples of partially-owned media.
Paid Media are basically paid advertising or media that are acquired by direct or indirect purchase. Some people argue that paid media is dead, but that’s quite untrue, as there is no other media that can give instant results and scale that paid media gives.
Earned media are driven by your audience, and it is generally called word-of-mouth advertising. You need to learn how to listen and respond to both the good (positive organic) and bad (spurned), as well as consider when to try and stimulate earned media through word-of-mouth marketing.
|Owned Media||Channels a brand controls||-website
|Build for longer term relationship with existing potential customers and earned media||-Control
-Company communication not trusted
-Takes time to scale
|Paid Media||Brand pays to leverage a channel||-Display Ads
|Shift from foundation to a catalyst that feeds owned media and creates earned media||In-demand
-Declining response rates
|Earned Media||When customers become a channel||-Word-Of-Mouth
|Listen and respond. Earned media is usually a result of well-organised or well-executed owned and paid media||-Most Credible
-Key Role in most sales
-Transparent and lives on
|– No Control
– Can be Negative
– Hard to measure