Last Updated on May 20, 2023 by Minerva
Do you know the difference between Paid Owned & Earned Media?
A study found that businesses that use a combination of paid, owned, and earned media are 60% more likely to achieve their marketing goals.
If you don’t use all three types of media, you’re not going to be successful in today’s competitive marketplace.
By understanding the differences between paid owned & earned media you can create a strategy that will reach your target audience and achieve your marketing goals.
Table of Contents
Paid Owned & Earned Media- What are the Differences?
Paid Media
Paid media is a type of marketing where you pay for advertising space.
This can be done through a variety of channels, including search engines, social media, and display advertising.
It can be an effective way to reach new customers, increase brand awareness, and drive sales.
It can be a powerful tool for your business.
It enables businesses to effectively promote ideas, products, and services to target audiences, reaching users actively seeking similar offerings.
Read more: 6 Digital Marketing Metrics In 2023 You Should Track
Owned Media
Owned media is a type of marketing where your business owns and control all digital assets, such as websites, social media accounts, blog, and mobile app.
It can be an effective way to cultivate a devoted fan base, entice and retain customers, build communities as well as fuel conversions and sales.
Leveraging it can be a valuable asset for your business.
By establishing your own digital platforms, you can finely customize your message for your specific audience and craft a unique brand identity.
Read more: 9 Proven Tips to Boost Website Traffic in 2023
Earned Media
Earned media is a type of marketing where your business receives any form of publicity or exposure without paying for it.
This can include mentions in the media, positive reviews, or social media shares.
It is often seen as more valuable than paid media because it is seen as more credible and trustworthy.
Taking advantage of it can be a valuable advantage for your business.
Building rapport with customers leads to organic conversations about your product.
It becomes a sustainable channel as your communities continuously promote your brand.
Read more: 7 Reasons To Use Reels In Your Marketing Strategy
How to Successfully Use Paid Owned & Earned Media
Here are some tips on how to successfully use paid, owned, and earned media.
1. Set clear goals:
What do you want to achieve with your marketing efforts?
Do you want to increase brand awareness, generate leads, or drive sales?
Once you know your goals, you can start to develop a strategy to achieve them.
2. Understand your target audience
Who are you trying to reach with your marketing messages? What are their interests and needs?
Once you understand your target audience, you can create content and messaging that will resonate with them.
3. Use a mix of paid, owned, and earned media
Each type of media has its own strengths and weaknesses, so it’s important to use a mix of all three to create a comprehensive marketing strategy.
Paid media can help you reach a large audience quickly, owned media can help you build relationships with your target audience, and earned media can help you generate positive word-of-mouth.
4. Measure your results
It’s important to track the results of your marketing efforts so you can see what’s working and what’s not.
This will help you adjust your strategy as needed to ensure you’re getting the most out of your marketing budget
Here are some additional tips for each type of media.
1. Paid media
● Choose the right platforms:
Not all paid media platforms are created equal. Do some research to find the platforms that your target audience is most likely to be on.
● Create compelling content:
Your paid media ads should be eye-catching and informative. They should also be relevant to your target audience.
● Track your results:
It’s important to track the results of your paid media campaigns so you can see what’s working and what’s not.
This will help you adjust your campaigns as needed to ensure you’re getting the most out of your budget.
2. Owned media
● Create high-quality content:
The content on your owned media channels should be high-quality and informative. It should also be relevant to your target audience.
● Promote your owned media channels:
Let your target audience know about your owned media channels so they can find them.
You can do this through social media, email marketing, or even print advertising.
● Engage with your audience:
Respond to comments and questions on your owned media channels.
This will help you build relationships with your target audience.
3. Earned media
● Build relationships with journalists:
Get to know journalists in your industry and let them know about your business. You can do this by attending industry events, sending them press releases, or even just reaching out to them on social media.
● Create newsworthy content:
If you want to get earned media coverage, you need to create content that is newsworthy.
This could be anything from a new product launch to a thought-provoking blog post.
● Be patient:
Earned media takes time to build. Don’t expect to get coverage overnight. Just keep creating great content and building relationships with journalists, and eventually, you’ll start to see results.
By following these tips, you can use paid, owned, and earned media to create a comprehensive marketing strategy that will help you achieve your business goals.
Conclusion
Paid owned and earned media form a powerful trio for business growth.
Paid media swiftly reaches a broad audience through targeted strategies and channels, driving immediate visibility and awareness.
Owned media establishes direct connections, builds relationships, and showcases expertise through your website and social media presence.
Earned media validates your brand’s reputation, extending reach through word-of-mouth and endorsements.
By integrating these media types effectively, you create a robust marketing ecosystem that maximizes visibility, credibility, and customer engagement, leading to business success.
Ready to Amplify Your Business Reach?
Minerva Infotech is a company dedicated to providing comprehensive 360 Digital Marketing solutions to businesses worldwide. Our team of experts crafts personalized digital strategies to enhance your return on investment (ROI) and make your brand shine in the digital landscape. With more than 15 years of industry experience and a successful track record of serving over 250 clients in 19 countries, we have the expertise to deliver exceptional results.
