>3 Types Of Media In Digital Marketing
Owned media in digital marketing can be defined as the type of media that you have control over. You can actually decide on what happens to such type of media. Some benefits of owned media include the cost efficiency, flexibility, longevity, and power of developing a go-to platform for your niche audience.
Owned media is important for installing trust and legitimacy, as a flagship platform showing off all that the company is, sells, and does. Your online website is much like your flagship store in a capital city, it stands out as the home for all of your content and should provide the best possible user experience.
The challenges of this type of media relate to the time necessary to build a reputation and trust that guarantees high levels of traffic to your digital owned assets. Just because you have a website it doesn’t mean that people will visit it, and Google will rank it first on relevant keywords. It requires optimization and accompaniment of other types of media, such as paid and earned.
Paid media gather all forms of digital advertising or paid endorsement, such as Pay per Click, social media, display advertising, paid influencers and retargeting.
Some benefits of paid media include the immediacy and scalability of the media. By using paid media, you have control over where, when, and what is seen. You can plan for expected performance, return on investment and traffic that paid media strategy will bring.
Paid media are highly recommended when building awareness and generating familiarity, as it provides the basis for repetition and selective targeting. For instance, by buying ads on Facebook, you have access to granular targeting and ad placement. For example, you know that females or males aged between 20 and 25, who have an interest in hair products, will see your advertising in their feeds and on the recommendation sidebar of their Facebook page.
The challenges on the other side, keep evolving with the development of technology and new media, as we have seen with Ad Blockers for instance. Even though you can know everything about who, when, and how your ad will be seen, this is a cluttered market where audiences are flooded with ads on social media and websites.
This makes it harder to differentiate, which results in a lack of credibility. Finally, with the new conditions of digital media, response rates are declining over time due to audience adaptation and the possibility to skip, close, report ads online.
Earned media gathers organic content created by users about your company but also mentions, shares, reposts on social media and reviews on specialized websites (i.e. Amazon).
The benefits of earned media are amongst some of the strongest, as it creates credibility, is organic and tends to live on longer than paid or owned media. Especially in the new media era, consumers rely heavily on peer reviews and will listen to experts and friends before investing in a product or brand content.
With earned media, the content around your brand is organically generated and originates in interest and satisfaction, given that the media publicity created is on the positive side of the spectrum. Earned media can also shine a light on the negative side of things if consumers are unsatisfied, or have had a bad customer experience. This is part of the challenges of earned media, as well as the lack of control, scalability and the difficulty in measuring it.
Because earned media is at the discretion of internet users, it is difficult to control and may impact on a company’s ability to provide great customer experience, content, and product. Measuring the impact of earned media can prove challenging, and even if it is possible to monitor the conversation around your company, it doesn’t necessarily mean you will know the actual impact in terms of sales.
For instance, by understanding the audience of influencers that have talked about your company organically, you can measure an average reach. If one influencer has an audience of 45,000 people and mentioned your brand, you can confidently say that based on their daily reach, your brand name has been exposed to 1,000 users a day. But apart from these users sharing, liking, or commenting on your content, you know little about what they have done with the information. There is no information provided on actual conversion.
I know you might agree with some of the points that I have raised in this article. You might not agree with some of the issues raised. Let me know your views about the topic discussed. We will appreciate it if you can drop your comment. Thanks in anticipation.
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