Paid, owned, earned media: What is Paid, Owned and Earned Media?

Introduction

This tutorial will clarify the concepts of paid, owned, and earned media, essential elements in marketing strategies. Understanding these terms is crucial for evaluating your current marketing resources and identifying future opportunities for your business.

Step 1: Understand Paid Media

Paid media refers to any form of marketing that requires financial investment. This includes:

• Traditional advertising methods:
  • Billboards
  • Newspapers
  • Radio
  • TV commercials
• Digital advertising methods:
  • Display ads on websites
  • Search engine result page ads
  • Social media ads

Practical Advice

• Utilize sophisticated targeting options available in paid media to reach your intended audience effectively.
• Consider whether to invest in paid search, paid social, or both based on your marketing goals.

Step 2: Explore Owned Media

Owned media encompasses the content that you create and control. This includes:

• Your website
• Blogs
• Social media accounts (excluding paid ads)
• Email marketing

Practical Advice

• Use owned media as a powerful tool in your content strategy since you have full control over it.
• Focus on creating high-quality content that resonates with your audience to maximize engagement.

Step 3: Discover Earned Media

Earned media refers to content generated by others that mentions or discusses your brand. This includes:

• Social media shares by advocates
• Influencer endorsements
• Public relations (PR) efforts
• Customer reviews

Practical Advice

• Encourage customers to share their experiences and reviews to build trust and credibility.
• Understand that earned media is often viewed as more trustworthy than paid or owned media; leverage this to enhance your brand reputation.

Step 4: Differentiate Between Media Types

To effectively utilize paid, owned, and earned media in your marketing strategies, keep these distinctions in mind:

• Paid Media: Content you pay to promote (ads or sponsorships).
• Owned Media: Content you create and manage, like your website or social media posts.
• Earned Media: Content created by others about your brand, such as reviews or social shares.

Practical Advice

• Regularly assess which types of media are performing best for your marketing efforts and adjust your strategies accordingly.

Conclusion

Understanding paid, owned, and earned media is vital for any marketer. Each type serves a unique purpose and can complement the others in a comprehensive marketing strategy. Start by analyzing your current media assets and consider how you can enhance your approach to reach your audience more effectively. Explore customized marketing courses to deepen your understanding of these concepts and implement them in your business strategy.