In today’s digital age, there are more ways than ever for businesses to reach their target markets. Paid, owned, and earned media are all different methods that can be used to achieve this goal, and it can be tricky to figure out which one is the best fit for your business. In this blog post by Jim DePalma, we’ll take a closer look at each of these three types of media and help you decide which one is right for you. So let’s get started!
Jim DePalma’s Guide to Paid, Owned, and Earned Media
Paid Media
Paid media refers to advertising that a business pays for, as opposed to “earned” or “owned” media, such as word of mouth or content on the business’s own website.
Some examples of paid media include paid search results, television advertising, and sponsored social media posts.
Paid media can be an effective way for businesses to reach their target audience and drive sales, but businesses need to consider their budget and carefully choose where they will invest in paid media.
Additionally, paid media can be complimented by a strong focus on earned and owned media for a well-rounded marketing strategy. Ultimately, paid media can be valuable in any business’s advertising efforts.
Owned Media
Owned media refers to any type of content or platform owned and controlled by a brand or individual. Examples include a company’s website, blog, and social media accounts.
When creating owned media, the brand has complete control over the message being communicated and how it is being distributed. This allows for a higher level of creativity and targeting than paid or earned media, where brands often have less control.
However, owned media also requires resources for creation and maintenance. Overall, owned media can be a valuable asset in a company’s marketing strategy when used correctly.
Jim DePalma believes that It is important to balance owned media with paid and earned forms in order to effectively reach target audiences and achieve marketing goals.
Earned Media
Earned media is any form of publicity that a company or organization gains through various channels without paying for it directly.
This can include customer reviews, media coverage, word-of-mouth referrals, and social media mentions.
Unlike paid or owned media, earning this kind of attention requires a long-term approach focused on building relationships and creating valuable content.
Some examples of successful earned media campaigns include Oreo’s tweeted response during the Super Bowl blackout and Red Bull’s record-breaking space jump.
While there are no guarantees regarding earned media, businesses can increase their chances by prioritizing customer engagement and creating buzz-worthy campaigns.
According to Jim DePalma, attracting attention through earned media can effectively boost brand awareness and credibility.
Jim DePalma’s Final Word
According to Jim DePalma, each media type has its own advantages and disadvantages. Your brand’s presence across paid, earned, and owned media will depend on your marketing goals. A well-rounded approach that includes a mix of all three is usually the best way to go. Remember that your buyer persona should guide your decisions about which types of content to create and where to publish it. And finally, avoid these common mistakes when creating your buyer persona.