Out with the Old, in with the New
Marketing is an ever-evolving art and as such, it has to address the needs of its audience by staying ahead of its time.
Traditional single channel marketing isn’t up to today’s role and that’s why marketers function under a framework called: “Paid, Owned and Earned Media”.
The POEM framework is essentially a more spherical and holistic strategy which incorporates traditional marketing, digital media and engagement in an effective way to reach the modern consumer.
When a marketer faces this trifecta for the first time, usually thinks the following: “Which is the best for my business?”.
Digital marketing is not a one-way street any more, we can’t choose just one that’s better for our business. Utilizing a converged media content strategy is imperative today.
They have to be treated as a single unit and not as separate entities. A well-balanced strategy is the key to reach the smart consumer.
Admittedly we have to weigh and research, thus be able to allocate our resources among those three medias accordingly for maximum effect.
Paid, Owned and Earned Media
Even though the successful marketer incorporates a mixed and balanced strategy, these three media types are different from one another:
Paid media are the more “traditional” channels of communicating a brand message. Brands don’t own those medias, rather pay for a feature time or placement. A paid ad on the TV or on the radio, ad billboards, Google Adwords, paid PPC, Catalogues, Banners ads; all of these are some examples of paid media.
Several years ago, paid media used to be pretty much the only advertising channel, not any more.
While they are still extremely important and they scale amazingly well (although expensive), marketing is not a one trick pony.
Paid media were excellent when the consumer was much more passive and was fed anything broadcasted over TV or radio. Today brands have to build deeper and meaningful relationships, but more on that later.
in contrast to paid media, the brand owns owned media (pretty obvious right?). Owned media are all the assets a brand owns and can feature its message.
Websites, blogs, newsletters, social media channels, eBooks; all this are examples of owned media.
As long as the brand owns them and creates the content published through them, they belong to this category.
Quality content is what makes the owned media shine. A valuable and interesting article on the company’s blog can accomplish huge engagement and increase the brand’s reach.
Inspiring social media posts through the brand’s profiles can increase brand awareness and achieve higher visibility.
Earned media is the result of the brand’s efforts through its marketing strategy.
Simply put, when someone who isn’t part of the brand, mentions, promotes or boosts the brand’s message/product, that’s earned media.
Earned media is (in my opinion) the true indicator of the success of a brand’s marketing and branding strategy.
People decide that your message is worthy to communicate further. These people are turned into brand advocates and influencers who work through their own media and promote a brand’s message for personal reasons.
Reviews, editorials, tweets, videos, photos, posts in online communities and forums and feature articles are some examples of earned media.
Earned media doesn’t operate alone. Paid media, owned media, branding, content marketing, a product, etc. – all this precede earned media.
People have to be convinced and embrace the vision of the brand, its message and qualities.
Apple is an excellent example, with millions of brand advocates all over the world.
Converged Media Marketing Strategy
The modern consumer is smart, aware and much more active than before. A single media strategy isn’t enough. Brands and marketers have to utilize all three medias.
Each channel has its own characteristics and we need all three of them combined and integrated into one campaign, one marketing strategy plan.
Marketers have to evaluate the importance of each media and allocate the corresponding time, effort and resources for their actions.
The single aspect that can effectively combine all three channels is quality content that offers value. Value can drive your message, create earned media and elevate owned and paid media campaigns.