Sometimes marketing terminology does more to confuse people
than it helps. For instance, I was sitting in a business meeting recently and
was asked how much Earned Media would cost. Um, earned media is free because it
is made up of social media engagement (likes, shares, comments), word-of-mouth
recommendations, publicity, etc. I think what my customer meant was what did
Paid Media cost – advertising, as an example. The poor guy in the meeting had
his terms confused, but it may not be all his fault. In the digital age we live
in, it is fairly easy for one channel of marketing to cross the other and blur
the lines between the two.
Let me try to clear up three channels of marketing. They are
Paid Media, Owned Media and Earned Media. Paid Media is commonly referred to as
advertising. As the name implies, it is any promotion of your brand where you
are paying a fee to place it in a marketing medium. Owned Media is any
promotion of your brand that your business has total control over. For
instance, you may have a sign in the front of your building. You control what
is on the sign. You have brochures, a website, a social media page or a blog.
You have total control over the content of these mediums. Earned Media is what
others are saying about your brand. Unlike Paid Media and Owned Media, this is
totally out of your control. People may say great things about you or they may
say horrible things. This is where your reputation is in the balance with
consumers.
There was a time when the three marketing channels were very
well defined. For instance, paid media meant you were advertising in one of the
three major media distribution channels (TV, radio, and print). However, the
digital age opened up a lot more opportunities and blurred the lines between
the three. For instance, if you post something on social media, it is Owned
Media, correct? But what if you pay to boost your post? Now it is Paid Media.
If I post content on my website with key words so my SEO is attracting organic
searches to the post, but at the same time I do a Google Ads campaign, all the
"likes” I get for the post organically would be Earned Media, but the paid
search "likes” would be Paid Media, correct? You see where someone could get
confused.
Marketing experts will tell you the best approach in
marketing is to gain a balance between Paid Media and Owned Media to get a
positive response in Earned Media because getting a positive response is where
a lot of modern marketing plans stop. However, I would challenge you to take a
step beyond the three marketing channels. The bottom line in marketing is not
to just get people to engage with your brand, it is to buy it. Earned Media is
important, yes. But gaining the sale is much more important. How you get there
really depends upon how your target market responds to both Paid Media and
Owned Media. The only way you will know is to take two actions: Ask them and
test what you hear with your marketing. In other words, test and verify your
marketing. Measure what you market.
In today’s world of marketing, where digital is king, you
can get lost in all the terminology and totally miss the mark. The bottom line
of marketing is to draw customers in for a sale. All the rest is just steps
towards that end goal. Marketing channels have their place in your plans if
they are leading to a sale. However, if your marketing plan is leaving you
short of reaching the bottom line, get away from your blurry lines and change
what you are doing.