In creating your digital marketing strategy, you must maintain a (somewhat) working knowledge of the three types of media. These three types are paid, owned, and earned media. The best way to visualize these media types is as a tripod – all three work together in building the foundation for your soon-to-be successful digital marketing strategy.
1. Paid Media
Now we’re going to go out on a limb and guess that you all know that paid media is advertising. Going deeper, paid media entails Pay Per Click, Display Ads, Paid Content Promotion, Social Media Ads, etc. The reason paid media is crucial to your digital marketing tripod is because the ads drive traffic. Paid media allows you to choose exactly how much money to invest in a certain placement, and measure your return. With the right dollar amount, paid media can get you in front of anyone. The downside? We all know ads when we see them, and must of us actively try to avoid them.
2. Owned Media
Any guesses as to what owned media is? That’s right! It’s your own media outlet. It’s anything that you control and is unique to your brand. This includes websites, blogs, social media accounts, etc. Owned media is absolutely crucial in establishing your brand presence on the inter-highway. It’s easier than ever to create an outlet for your brand, and you can use the content on those outlets to get clicks, leads, or even sales! The hard part – running your own outlet is a lot of work. Capitalizing on owned media is a strategy best used by established brands with a little experience under their belt.
3. Earned Media
You know what’s better than talking about yourself? Everyone else doing the talking for you. Earned media – which is basically the online version of word of mouth – is the bees knees when it comes to your digital marketing strategy. This entails getting your story posted on other media outlets, getting shares/reposts on social media, or anything else that gives your brand virality. Generally speaking, earned media is almost 10x as credible as the other types of media as it’s getting posted/shared because there’s no ulterior motive behind the content.
While we’re partial to the benefits of earned media here at CFM, but taking advantage of all three strategies will give you the most success in your media endeavors. If you need any guidance, you know where to look.