Owned Media, Earned Media and Paid Media wouldn’t be new to you if you work with a marketing agency or if you’re a marketer.
But if you’re a small business owner, these terms wouldn’t be familiar with you. No matter the size of your business, these concepts are essential to your marketing strategy.
AFROSAGES will tell you what it is about and we’ll also teach you how to employ these concepts as part of your marketing strategy.
OWNED MEDIA – Owned media is when you leverage a channel you create and control. This could be your website, blog, Facebook page or your YouTube channel.
Technically you don’t strictly “own” your Facebook page and YouTube channel. You do control them though.
EARNED MEDIA – Earned media is when your customers, your social media followers, the general public or the press share your content or speak about your brand.
PAID MEDIA – Paid media is when you pay to leverage on a third-party channel like advertising on another website, blog or YouTube channel.
We hope this now gives you a fair idea. Let’s move on.
Did you know that the concept of owned, earned and paid media is centred around CONTENT?
There can be no disputing the fact that small businesses are mastering the art of creating and curating content these days.
There are some misconceptions about owned, earned and paid media we want to dispel.
1. ALL YOU NEED IS OWNED MEDIA
Having your own channels and content you own is important but that alone isn’t enough.
Most small businesses lack reach and scale with their owned channels. One can have a great website and excellent content but less traffic.
Your Instagram page has less followers or your Facebook page has less share when you post content.
This is where earned and paid media comes in play. They give you more reach which you lack.
2. PAID MEDIA IS MORE EXPENSIVE
Time, money or both are cost to every channel. Keep that in mind.
Let’s break the cost down ( be it time, money or both) for all the channels.
OWNED MEDIA – Time you spend in improving your website, writing blog posts or designing infographics.
Time you spend on editing videos for your YouTube channel or paying for improved SEO services.
Realise you spend both time and money?
EARNED MEDIA – Same applies to earned media. You invest time and effort in developing your social media channels, engaging with customers, curating content week in and week out.
If you want to earn influencer mentions, you have to to reach out to bloggers or social media influencers.
You may also need to guest blog on other websites or blogs.
All these involve time and money for your data.
Most small businesses underestimate the cost of marketing they do in-house. Consider the value of your time and that of your team.
We advice that you use the combination of owned, earned and paid media. Use one media channel to amplify the other.
Just imagine the combination of these; you use organic sharing for your content, but you reach only a small percentage of your followers so you promote or make it a Sponsored post for $10 and it’s
picked up by an influencer and he/she’s shares it… BOOM
We hope this write up helps you in implementing owned, earned and paid media into your marketing strategy.
You can also contact us for your owned, earned or paid media for a small fee.