As a business owner when you are choosing different marketing strategies to implement, it’s important to understand the choices you have and how they differ from each other. You basically have three choices when it comes to marketing, namely “paid,” “owned” and “earned” media and you’ll most likely use a combination of all of these, for the best results.

Paid Media

This consists of promoted posts, promoted updates as in the case of Facebook, Pay Per Click (PPC) campaigns and anything that you pay for.

One really good use of paid media is to engage in a remarketing campaign, which works like this, if someone has visited your website to view a page and then they leave, you can use remarketing (also known as retargeting) to bring the viewer back to your website with paid advertising, this form of advertising is shown only to those that have visited your website and as such it is highly targeted and can be highly effective.

Sponsored articles, advertisements, email marketing, paid search, promoted video are all examples of paid media. This is an important element for most marketers and it’s important for you to use these opportunities. I suggest you start small with using promoted posts on Facebook and move on from there.

Owned Media

This consists of your own website, blog posts, social media accounts, and articles you write and own.

Owned media is very important for business owners because it is something that you can control and it’s also the easiest to use. Your content on your website needs to be first class, taking into consideration search engine optimization and user engagement. Your content on your blog needs to be updated often and ideally daily with relevant content directed toward your audience. Engage often on your social media accounts using the content you own, in fact by producing lots of original content that you own you can really start to dominate social media channels.

Earned Media

This consists of publicity type information about your business that is owned by a third party and not controlled by you.

Whether you want earned media or not, at some point in time you’re going to have it. It can be both good and bad, and it’s still earned media if a third party put it out there without your permission and without payment from you. You can have some measure of control over earned media by providing the best customer service you can, having top-notch products and services, and keeping your ear to the ground to make the most of any positive third party earned media.

Sometimes there can be cross overs with owned and paid media, as well as owned and earned media. For example, if you own a blog post and you pay to promote it. Or if you created a video that happened to go viral that is both owned and earned, because once it goes viral you essentially lose control of it and what is said about it. Take advantage of those opportunities whenever you can.

All business owners should try to use a combination of all three forms of media marketing in their marketing efforts for the very best results. With today’s crowded marketplace, the old ways of just relying on search engine optimization and your own ineffective social media promotions are over. You need to find a way to stand heads and shoulders above the crowd to become a force to be reckoned with and to reap the rewards.

Whats the Difference between Owned, Paid, and Earned Marketing Strategies.
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