Paid, Owned, Earned, Media - Marketing Strategies and Examples

Introduction

Paid, owned, and earned media are three distinct types of marketing strategies. What is the difference between them? What should you be focusing on for your business or brand? This blog will answer all these questions and more.

What Is Paid, Owned, and Earned Media?

Paid, owned, and earned media are the three types of marketing channels that businesses can use to market their products.

• Paid media is when the product or company pays for a message to appear. It includes advertisements, sponsorships, and paid membership sites.
• Owned Media are those you manage yourself like, a blog or website with the content edited by yourself.
• Earned media is when other people share your content with their audience, which can cause you to reach multiple potential customers.

While each media type has its benefits and drawbacks, successful marketers know how to draw from all three to create a comprehensive media strategy. Paid media helps generate leads and sales while owned media allows brands to communicate directly with customers using creative content marketing efforts. Earned media provides an opportunity for word-of-mouth marketing which can be incredibly powerful in terms of reach and impact.

Businesses need to understand the different types of digital media to create an effective online marketing strategy. In 2021, the average North American adult will spend 8 hours a day consuming digital content- so it's more important than ever for brands to reach their target audiences through all possible channels.

What Are Differences Between Paid, Owned, and Earned Media Communication Channels?

Paid, owned, and earned media can be a confusing topic for marketers. All three media types are essential to understanding and creating an effective marketing strategy.

• Paid media is any content that is paid for, such as ads on Facebook or Twitter.
• Owned media refers to the channels that you own, such as your company website or blog.
• Earned media is unpaid visibility, such as when someone shares your content on their own social media channel.

Marketers need to understand the differences between these three content delivery channels because they offer different benefits. Paid media can help you reach a large audience quickly, while owned media allows you to control the messaging and branding for your company. Earned media helps build trust and credibility for your brand because it comes from recommendations from other people.

Paid Media Strategy

Paid media helps you reach a specific audience and create targeted ad campaigns that convert viewers into customers. Paid media can be used as an alternative or in addition to organic search engine optimization (SEO) tactics like on-site optimization and content marketing. Paid media campaigns can be expensive, so they should not be used as a replacement for organic SEO tactics.

What Are Pros and Cons of Paid Media?

The advantage of paid media is that it guarantees your content will be seen by your target market. It is also a great choice for retargeting or remarketing, which means reaching out to those who have already shown interest in your business. When used in conjunction with other forms of media, such as earned and owned media, paid media can be more successful.

The main drawback of paid media is its price.

How Much Does Paid Media Cost?

The amount of money you spend on paid media will depend on campaign type, size, and frequency. For example, Facebook advertisements can start at $1 per click, while a Google AdWords campaign can vary depending on the keyword, ad placement, and bid. Generally, it can cost anywhere from $5 to $50 per thousand impressions.

A small, targeted ad would likely cost around $10 per thousand impressions, whereas a billboard or bus stop advertisement could cost $1,000 or more.

What Are Paid Media KPIs

Impressions - the number of times your ad appears in SERPS. There are different types of impressions, including cost-per-click (CPC) and cost-per-thousand impressions (CPM).

Clicks - it indicates how many times people click on your ad.

Goal conversion rate - the number of times your customer completes the action such: as subscription, purchase, event registration, etc.

The Click-through rate - is the percentage of people who click on a website link after seeing an ad. It can be used as a measure of how effective your advertising campaign was, and how much users are engaging with your website.

Cost per click - is the amount company pays each time someone clicks on ads.

Cost per lead - the price an advertising firm charges advertisers to acquire a particular number of leads. It can be calculated by dividing their total costs by the amount they would have paid for each lead.

Cost per acquisition - It is a business metric that indicates how much it costs to acquire each customer. It gives you the information necessary to determine whether or not your advertising strategy is effective and if it is worth investing in.

What Are Examples of Paid Media?

Search Engine Advertising Campaigns/Search Marketing

Paid search engine marketing (SEM) is a form of online advertising that involves paying to have your website show up as one of the top results for specific keywords or phrases.

Advertisers can create ads in the form of text, images, or videos, which are then displayed when someone searches for specific keywords or phrases. SEM ads can be pay-per-click (PPC) or cost-per-thousand-impressions (CPM).

Social Media Advertising

When most people think of advertising, they think of TV commercials and billboards. However, in the digital era, paid media has taken on many new forms. Paid media includes all forms of advertising on the Internet, including social media posts created by paid influencers.

One popular form of paid media is native advertising. This type of advertising is growing in popularity because it's a more subtle way to reach customers than traditional advertisements.

Instagram uses native adverts, which blend in with your feed without notice. Native ads are one of the most common types of paid media. They're effective because they're less intrusive than other forms of advertising and people are more likely to interact with them. Also, other platforms such as Facebook and Twitter use native ads.

Advertising on social media is highly controllable - you can target locations, people with different professions, ages, interests, etc.

Influencer Marketing

Influencer marketing is a form of advertising where the advertiser will pay an influencer to feature their products. Influencers have large social media followings and can therefore influence the purchasing decisions of their followers.

Nowadays, many companies refer to influencer campaigns to reach their goals. For example, the renowned sportswear company Adidas had launched an influencer marketing campaign with Kailey Jenner that promoted the sneaker line of Adidas.

Display Ads

Display ads thas come a long way since static banner ads. Static banner ads were generally ineffective, as users became desensitized and learned to ignore them.

Today, display advertising is much more sophisticated. There are various types of display ads, such as:

A pop-up is a small ad that appears as visitors scroll the website. They are a great way to increase user engagement because they can retain users on your page while using the ad space wisely. 

Interstitials are full-screen ads that typically appear before or after the content that the user is trying to access. For example, an interstitial ad might show when a user tries to leave a website.

Video ads automatically pop up whenever the customers scroll past the page or specific section.

Traditional Advertising - Video, Radio, Publication, Print, TV Ads

Traditional advertising works when you create an ad and pay to have it appear on a website. It is s a marketing approach that promotes products and services through mass media like radio, television, newspapers, or magazines.

Owned Media Strategy

An owned media strategy is a way of leveraging your existing assets to drive success for marketing and sales efforts. It refers to original, relevant, sharable content on your website, blog, or social media accounts. Any form of content you create and control, including blog posts, videos, infographics, or other similar is owned.

Owned media is the destination where you want customers to land, and - paid media helps you to push external traffic to your controlled channels.

What Are Pros and Cons of Owned Media?

Owned Media KPIs

Website traffic is the number of visitors or page views your website receives. 

Time-on-page is the amount of time a user spends viewing your web page. This metric indicates how much content they can view and digest before leaving or scrolling down to another page. Time-on-page gauges how informative your content is.

Bounce rate is the percentage of users that visit a website and then leave after their initial interaction with it. Sites have bounce rates from 1% to 80%. The higher your bounce rate, the lower the traffic and engagement rates are, which can ultimately decrease your organic rankings.

Conversion rate is the number of people who completed your desired action after visiting or clicking through to your site. It can be a specific action like buying, subscribing, filling out a form, etc.

Social media likes and followers - this metric indicates how famous and engaging your company's social media content is. 

Newsletter open rate is the percentage of people opening your email. You can track this number via tools such as MailChimp and HubSpot to provide insight into how effective your outreach strategy is.

What Are Examples of Owned Media?

Media of Content Marketing - Website

You should use your website blog to create SEO-oriented content pieces that get under the eyes of Google.

SEO content includes writing copies in a style that gets ranked for the related keywords. The web is the homeland of millions of content, and you should signal to Google and other search engines that you exist. 

Delivering consistent SEO content is the key that can lead your way to supremacy. It invests in trust and long-term relationships, carrying your unique brand voice. After you do the groundwork, your efforts will result in:

• Improving Brand Awareness
• Generating Leads
• Boosting Conversions
• Increasing Sales
• Getting Loyal Customers

The web world is changing, and competition is becoming fiercer. Closing eyes on emerging trends is not an option. So, Putting SEO tendencies off until next year will get you lost in the crowded race.

Content on Social Media Channels

Social media marketing is a specific type of digital marketing that focuses on building relationships with people through social media platforms such as Facebook, Twitter, LinkedIn, Instagram, etc. Social media marketing strives to incentivize sharing across networks and create content that will further your brand's objectives.

A positive online reputation helps close sales easier than without one. Some customers will only buy from companies they know have a good reputation online.

Thus, social media is a perfect place directly engage with your audience and build customer relationships.

E-Mail Marketing

E-mail marketing is the process of sending promotional emails to interested prospects, customers, or members. E-mails are a form of direct marketing that promote products and services and inform members or prospects of new products, services, and deals.

Email marketing is a great way to reach new customers and help them become loyal followers. It's also an effective communication method with your existing customer base, keeping them engaged and coming back for more.

Earned Media Strategy

Unlike paid media (such as advertising), earned media doesn't require any expenditure on the part of the brand or organization. However, cultivating relationships with third-party sources to promote your brand requires time and dedication. 

For example, you should create valuable content that ranks on Google to derive attention. So, SEO is a crucial player in earning media exposure (just as it does with owned media). By producing high-quality content that addresses the needs and concerns of your target audience, you can position your business as a leader in your industry. It will help you get mentions from relevant publications and social networks.

Startup brands should always aim to produce good quality content to increase their chances of earning publicity. However, earned media takes time and effort - so don't expect quick results.

What Are Pros and Cons of Earned Media?

Earned Media KPIs

Number of Mentions - it measures how many times your website was mentioned by another company. 

Referral Traffic - it gauges how many visitors followed the mentioned link on a third-party source and interacted with your webpage.

Publicity Value - how many out of referral visitors completed desired actions such as purchase, download, registration, etc.

What Are the Examples of Earned Media Marketing?

SEO Search Results

SEO, or search engine optimization, is a form of earned media. In other words, you invest time and resources into creating content on-site that will rank high in search engine results pages (SERPs). Unlike paid ads, which are immediate, SEO can take time before you see results. However, when used in combination with owned media - such as a website or blog - it's an effective marketing strategy.

Earned media is a form of publicity that you generate through content marketing. When you produce content that addresses common pain points among your target audience, you'll be seen as a thought leader in your field. This type of publicity can help drive leads and sales to your business.

Earned Publicity in Media Sites

There are several ways to get free publicity or earned media, and one of the most common is by sending out a press release. Your business needs a unique product or story that will catch the attention of reporters and editors. Additionally, sponsoring an event is a great way to gain publicity and exposure for your company.

Earned Mentions in Social Media and Third-Party Sites

Some companies send their product or service to influencers. In return, they receive influencer mentions - a post dedicated to them.

In the other case, people voluntarily share company social media content and help them expand their brand awareness.

Social media is most effective when used in tandem with paid and owned media. Paid advertising (such as boosted posts) drives users to your website or social media page, where they are then exposed to your owned content (such as blog articles or white papers). If this content is interesting or helpful, the user may share it with their followers on social media, creating earned media. Earned media is free advertising, as it comes from people who have voluntarily shared your content.

Word-of-Mouth

Word of mouth is a type of marketing that uses personal recommendations, testimonials, and reviews to create word-of-mouth buzz about products or services. It includes situations where consumers recommend products or services to friends and family.

Third-Party Review Websites

Businesses, large and small, need to be aware of the impact that online customer reviews can have on their bottom line. Positive reviews are great, as they can lead directly to increased sales. However, negative reviews can also be a problem, as they may cause customers to hesitate before doing business with you. Companies need to encourage positive reviews and manage any negative ones that may arise.

Review websites are a great way for companies to build credibility.

F.A.Q

Conclusion

Paid, owned, and earned media are all important tools in the content marketing toolbox. You can use them together to create a well-rounded content marketing strategy that will reach your target audience and help you achieve your business goals.

If you need help with content creation, our team will be happy to help you. We offer a range of content writing services that can be tailored to your needs.