In the world of social media, new concepts and terms emerge that need to learn if we want to survive in a competitive world. Terms like “own media”, “paid media”, and earned media used by companies to sustain in the dynamic marketing. We see that these terms are used more nowadays so this article will give you their meaning and difference.
Describe Earned Media
Has your business grown by referrals, recommendations, and word of mouth of your current customers? If it is your strategy, then you are using the earned media.
Your satisfied customers played an important role in driving this strategy for your business. When you share your content of business on social media networks like Instagram, Facebook, Twitter, etc then you are doing this under the umbrella of earned media.
The search engine works to expand your reach to the masses. For example, your site will drive visitors towards it if you use the keywords to show it up on the first page.
It explains why enterprises of different sizes spend a lot of money on their “Search Engine Optimization” strategy. Yet, it is difficult to rank yourself on SEO. If you do not still use this strategy, then you should get to start it as soon as possible.
One more thing which should emphasize is that you need to create shareable content. If you want to gain business by earned media platform, then quality content is non-compromised.
Define Owned Media?
The “Owned” word says all that your social media channels to which you belong offer you full access to your success. It can be your vlog, business blog, Twitter handles, YouTube channel, or any other medium which lets you spread your word of business to masses.
The hook with an owned platform is that nobody knows of your existence. If you want to show your content to potential customers, then your Facebook page, YouTube channel, and other media help to get your audience aware of the content. You may not grab new leads and followers until or unless you use the strategy of search engine optimization.
Define Paid Media?
In paid media, you pay others to increase your reach to potential customers. For instance, you can use several advertising platforms or influencers to get reach your content and services to people who look for it.
Your business can get a jump in conversions and traffic by the reach of the influencers. Social platforms like Instagram, Twitter, and Facebook offer many advertising services to help enterprises reach new customers or grab new clients.
You can get help from the advertising services of a search engine like Bing and Google to reach your potential customers whenever the particular search terms are added.
Which media do you like to prefer?
You should use all three mediums to give a boost to your business and achieve your goals. Most businesses rely on only owned media, and later they regret this decision. Just dependence on owned media can stunt the growth of your business. For example, You Tuber makes fantastic content but does nothing to improve his/her subscriber. The reviews will not change at all if he/she does not optimize the content for the search.
If you consider using only owned media and earned media, still you cannot achieve your desired goals. It is a reality that the customers can speak of you in their circle, but what about the audience on the outside of their circle? Remember the thing that increasing your customers only through word of mouth by your clients in their family and friends is not something that can give a boost to your business.
Grow your social media network when you use earned media. You cannot do this until or unless you use it with paid media. You should engage your customers with your brand otherwise they will move on towards the next one which grabs their attention.
Paying influencers and advertisers for expanding your reach does not turn to be the most desired thing that you wish to do, but you need to do that if you want to grow your business.
Earned and owned media will take you no further, but the paid media with it will fill the gap. Even you can get access to those customers who are not on your target list. Paid media works like the last piece of the puzzle when using owned and earned media. So, fitting it will create worth of the content.
This trio of owned earned and paid media gives a boost to your business. It takes from the “Zero” level to the “Hello” level, if you do not break the bond which exists among them. Every one of them depends on each other to gain the largest share, you just need to use each to achieve your business objectives.