Media Max Out: 3 Steps to Enhance Your Media Strategy
“Converged media will happen and is happening; if marketers do not take action, the effectiveness of marketing efforts will suffer.”
-Altimeter Report: Paid + Owned +Earned = Converged Media
In today’s fragmented media landscape, every digital touch point is an opportunity for consumer engagement. With such diverse avenues available, brand marketers and media strategists must look for ways to optimize their paid, owned and earned media. Refusing to do so will decrease the effectiveness of marketing efforts and open up room for competitors to close the competitive gap.
Paid, Owned, and Earned Media Explained
Paid media is everything that you spend advertising dollars on such as TV, radio, print, digital advertising, and sponsorships. Owned media includes your website and other “owned” properties, and earned media, such as a retweet or press mention, is defined by the social amplification and interaction you “earn” through active participation with your customers.
Marketers today face a huge challenge when trying to generate earned media, simply because this is the medium you can’t pay for or control. But, as a marketer, that doesn’t mean you’re helpless. To secure earned media, brands can and must create experiences that cultivate content and inspire consumers to participate with the brand. These experiences generate actual expressions - opinions, stories, photos, Tweets, and videos - that the brand earned out of authentic appreciation and engagement with the consumer.
The Opportunity Ahead
Today, brands aren’t utilizing earned media to its full potential. In fact, only 17% of Chief Marketing Officers believe that social content is truly integrated across their marketing programs and channels. So, there is a huge opportunity for marketers to drive their brand and their business through social integration and engagement to ultimately create the perfect paid/earned/owned media combination.
This combination, which integrates real-time, social content within brand and advertising experiences, increases ROI by transforming the ‘owned’ destinations into more participative and ‘amplifiable’ assets. As social integration becomes a more necessary component of marketing, integrated media strategies that drive content, customer conversations, and engagement will come out on top, and those that combine owned, earned, and paid media will be the winners.
Download The Whitepaper
How do you create the perfect “owned media” experience for your customers, and what is the right formula for paid media to maximize your earned media opportunity? Download this report, which will outline the three steps to drive a social experience that is best of breed.