Awareness Week – Channels Part 2
Earned, Owned and Paid media
Use your channel mix to influence earned, boost the quality of your owned and get more from your marketing dollars with paid - Here’s how.
First definitions - What is Earned, Owned, Paid media?
Earned media is what ‘the others’ are saying about you, it’s word-of-mouth, it’s the comments on social, it’s the discussions on forums, reviews sites and blogs. Overall, earned media is the opinions people in the market place are sharing, with others, about your business – it’s Free advertising, so make sure they only have good things to talk about.
Owned media are the assets you own and influence, it’s your website, it’s organic search results, it’s the unpaid content you post on your branded social platforms, it’s your blog. Any branded assets are considered owned - $0 advertising.
Paid media is where your marketing dollars are spent across third party owned mediums to promote and advertise your business – Your marketing dollars.
How these 3 media types work together to maximise your budget and meet your business goals?
You already know, from reading the value of an awareness program, that a well planned and executed awareness program is your chance to shape the perception of your business. Therefore, if your program is performing well, earned media will be one of the by-product of these efforts. Design your program to get people talking. Tease them a little. Leave them wanting to find out more.
I see so many companies using their advertising to just spew out everything about what they’re selling all in the one ad, not allowing intrigue to take the target audience on a journey to get to know your business. Don’t make the same mistake.
Use social listening tools and be aware of what is being said about your business / product / service and learn from it. If the narrative is not going your way, respond to it and use it to be better.
The heart of your owned media is primarily your website. This is where your target audience will land from every other channel in your mix, and it’s also where you showcase who your business is, what it stands for and the value it has to offer. It’s the low-cost channel that you have full control over, so use it wisely.
Your paid media channels should be used as the composer to elevate the other two. In the awareness stage you want to grab attention, evoke intrigue, get them thinking about if they need what you are offering. You want them to start asking questions about your business / product / service. You want them to go on the journey to get to know you - Driving them straight to your website.
Although I’ve ordered earned, owned and paid in the way that I have, really the process starts with owned, moves to paid, resulting in earned and back again. The cycle of how you use this mix for your business is adaptable to all stages of the funnel – Starting with awareness, which engineers consideration, drives conversion, resulting in sales and revenue.
Then while that front end is working, the back-end channel mix, to keep your new customer, kicks off with engagement and retention programs – but I’ll talk more about this at another time.
· Understand each channel / medium / asset, know how they work together to get the best from them and your marketing dollars - to drive the results you want
· Your website is the heart of all your activity. It’s where all your other channels should drive your target audience
· Be creative with your awareness program, create intrigue, leave them wanting more so they are excited and want to go on the journey to get to know your business
Do you like what you’ve been reading? Let’s work together. Email me at [email protected]
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