The simple answer is all of them! It is best practice to have an integrated marketing strategy that includes a good balance of owned, paid, and earned media types.
As we all know, the marketing industry is constantly changing due to advancements in technology (right now, particularly mobile). And media types are evolving due to how people are consuming information. Paid media, for example, is not what it once was. The main outlets for paid media used to focus primarily on is still a major player in paid media, but a lot of this traffic has moved online to paid search, display banners, and video ads.
Let’s take a look at what owned, paid, and earned media consists of today.
Owned media consists of properties that your brand controls. This may include your site, blogs, e-Newsletters and possibly some direct mailers. This is managed directly by the company which can be time consuming, but there are benefits to utilizing this type of media. For example, nearly half (46%) of people say a website’s design is their number one criterion for determining the credibility of a company (business2community). Content marketing through blogs and email campaigns appeal to today’s consumers, and it is in your brand’s best interest to incorporate video. 65% of today’s audience are visual learners, and visual data is processed 60,000 times faster by the brain than text (business2community).
Paid media is placed and bought, and requires an investment. Mobile has definitely changed how we approach paid media today. If a consumer owns a smartphone, and over 60% of Americans do (ABCnews), then they literally have an abundance of information at the palm of their hand. This makes contextual and “in the moment” advertising very appealing. Users want a personalized experience, not an ad that is displayed to the masses. And with all the data that is available to marketers, we can give consumers a more personalized advertising experience in their path to purchase through paid search, video advertising, paid social media, and retargeted ads.
Earned Media is referral based and mainly consists of engagement on social media channels. Not only has social media taken over the internet, but it has taken over the way many companies market their brand. As of January 2014, 74% of online users use social networking sites (PewResearch) and this continues to increase. With so many consumers on social media outlets, companies are doing their brands a disservice by not being present on any social media channel, particularly LinkedIn for the legal industry since it is the social network for white-collar professionals to network, and its audience is highly desirable since it is a high-income and highly educated user base (BusinessInsider). Organic social media has also in a way become the new “word of mouth” advertising with many consumers relying on Facebook posts or Pinterest pins of family members and friends as recommendations for products and services. A great way to boost your brand’s earned media is to incorporate paid social media advertising with your organic social media.
It is always best to combine parts or all of these media types when creating an effective marketing campaign. Together they can increase brand awareness and drive conversions. Contact Integrity Marketing Solutions today and request a complete review of your brand’s marketing strategies.