Owned, Paid & Earned media: definition, examples, roles, benifits & challenges
Key take-aways to incorporate into your online marketing strategy:
- There is fully-owned media (like your website) and partially-owned media (like Facebook fan page or Twitter account). In a recession in which marketing budgets are being cut by 20%, the ability to communicate directly with consumers who want to engage with your brand through long-term relationships can be invaluable.
- 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.
- No other type of media can guarantee the immediacy and scale that paid media can. However, paid media is shifting away from the foundation and evolving into a catalyst that is needed at key periods to drive more engagement.