In the PESO model, owned media might often overshadow its paid and shared counterparts. Yet, it is essential in a holistic marketing approach that should not be overlooked. The emergence of digital marketing and social media has transformed the landscape of owned media. Still, far from making it less significant, this evolution has only amplified its value to marketers. In our constant communication and connectivity age, owned media’s role has become more crucial than ever.
Among the various types of owned media, blogs are a popular and effective way to share information, expertise, and updates within a specific industry or company. Blogs offer a platform for organizations to develop and share unique content while establishing themselves as credible thought leader. Likewise, newsrooms provide an opportunity for businesses to publish their press releases, as well as feature articles from trade publications that may have covered them. This type of owned content allows brands to create a centralized hub of information and news related to their offerings, which can build credibility with their audience.
Mobile apps are another form of owned media companies can leverage to engage customers and create a seamless, personalized experience directly. By developing a mobile app, marketers can provide targeted content, notifications, and exclusive offers to their users, fostering a more profound loyalty and connection with their brand.
The various types of owned media are not created in isolation but complement and support each other within an integrated marketing strategy. Owned media is distinct from paid and earned media, comprising channels and assets a company has complete control over. Paid media typically refers to any promotional initiatives that involve paying to reach audiences through channels like search engine marketing, social media ads, or sponsored content.
In contrast, earned media encompasses the visibility and reputation a brand attains through word of mouth, social shares, publicity, and positive reviews. While paid and earned media can yield powerful results, establishing a solid foundation of owned content enables companies to retain control over their messaging and cultivate an authentic brand narrative.
In essence, owned media is the silent powerhouse of a marketing strategy. Too often overlooked or undervalued, it remains crucial for brands that wish to craft compelling, consistent messages that resonate with their target audience. With a well-rounded owned content strategy, marketers can establish authority in their niche, foster loyal customer relationships, and differentiate themselves in an increasingly noisy digital landscape.
What is Owned Media?
Owned media is a term that encapsulates all of a brand’s self-controlled channels and content. This includes everything from the website, blog, newsroom, and microsite to more conventional avenues like printed materials, company publications, and physical locations. This media, firmly under the brand’s control, empowers it to shape its narrative, define its identity, and interact directly with its intended audience.
One of the critical aspects of owned media is the ability to develop a consistent brand narrative across these channels. By maintaining a uniform tone and messaging, brands can forge a strong, identifiable presence that serves as a foundation for building customer loyalty and trust.
Benefits of Owned Media
Marketers must understand the significance of a comprehensive marketing plan exploiting various media outlets to fulfill their objectives. Integral to this plan is the component of owned media. As the backbone of any marketing strategy, owned media provides a platform where a brand has complete control over its content, messaging, and the pace at which it’s delivered. It’s a powerful tool proven to yield considerable advantages for brands, from fostering a direct relationship with the audience to shaping a brand’s image without interference from outside sources. Therefore, in the grand scheme of a marketing strategy, owned media plays a role that is not just essential but transformative.
Cost-effective marketing solution
First, using owned content provides an economical marketing approach compared to paid media’s escalating costs. For instance, establishing and maintaining a company blog, social media accounts, or email newsletter incurs minimal costs but can yield significant returns over time. Additionally, for marketers who have already invested in content production, owned channels are a valuable platform to showcase this content without incurring extra expenses.
Full control over the message and the platform
An additional benefit of owned content lies in the unparalleled control it affords marketers over their messaging and platform. Unlike paid and earned media, where the brand’s control over the final output can be restricted, owned media enables meticulous crafting of the brand narrative, tailoring it to meet the specific needs and preferences of the audience. This control also extends to distributing, scheduling, and targeting content, ensuring that brands can precisely reach their chosen audience segments.
Strong foundation a brand marketing strategy
Owned media should be the cornerstone of any marketer’s marketing strategy. Consistently producing high-quality content and strategically distributing it through owned channels will prove invaluable in driving website traffic, nurturing customer relationships, and reinforcing brand identity. Furthermore, a solid, owned media presence establishes credibility with the audience, fostering trust and loyalty. This foundation is crucial for engaging customers, cultivating new leads, and ultimately driving conversions and sales.
Long-term audience growth and retention
Companies that invest in owned content reap the benefits of long-term audience growth and retention. By consistently providing valuable content that resonates with audiences, brands can establish a loyal following that keeps returning over time. These loyal customers can become brand ambassadors, sharing content with their network and attracting new customers, further amplifying the brand’s reach.
However, it is crucial to acknowledge that building and maintaining an audience through owned media requires patience and persistence. It might not yield immediate returns, and it is essential to adopt a long-term approach when planning and executing owned content strategy.
Challenges of Owned Media
While owned media provides marketers with undeniable advantages, it simultaneously presents many challenges that must be addressed to tap into its potential fully. Here are some key challenges that may surface during the implementation of an owned media strategy:
Content creation and curation:
The consistent creation and curation of engaging, high-quality content is a primary hurdle for brands. Generating content that attracts and retains the audience demands considerable time, effort, and resources.
Striking the right balance between quantity and quality of content can be challenging. Also, identifying the most effective and relevant content formats suitable for the brand’s message and audience preferences can be overwhelming. This challenge necessitates a keen understanding of the audience’s needs, a creative approach to content creation, and a strategic perspective to manage resources efficiently.
Achieving visibility and organic reach
Brands must ensure their content doesn’t just exist but actively reaches their intended audience. With an avalanche of content being churned out and shared online daily, standing out from the crowd and staying memorable is trickier than ever. Elements like search engine optimization (SEO), the whims of social media algorithms, and even the nitty-gritty of email deliverability are crucial in shaping how visible your owned media channels are and how far their organic reach extends.
Resource allocation and personnel
Executing a successfully owned media strategy dictates that brands invest in the necessary personnel to oversee content creation, channel management, and audience engagement. However, from content producers to social media managers and analytics experts, finding and retaining the talent required to drive results can be challenging. Plus, determining the proper allocation of resources to owned content efforts instead of paid and earned media initiatives requires careful planning and assessment.
Measuring success and demonstrating ROI
Companies leveraging owned media often struggle to define success and establish the key performance indicators (KPIs) that adequately measure their strategy’s effectiveness. While metrics like website traffic, social media engagement, and open email rates can provide valuable insights, determining the direct impact of these data points on conversions, sales, and overall ROI can be intricate. Additionally, conveying the value and long-term benefits of owned media investments to stakeholders may be met with skepticism, as results are often less immediate than those of paid media campaigns.
Despite these challenges, owned content remains vital to a comprehensive marketing strategy. By acknowledging and addressing these obstacles, marketers can make informed decisions and continue to advance their owned media efforts, ultimately driving brand success.
Is Owned Media Free?
While the term “free” might sound appealing, especially in owned media, it’s vital to thoroughly evaluate the associated costs that inevitably come with owned content channels. Although owned content isn’t subject to the exact direct costs as paid media, expenses related to web development, security, and personnel are significant factors to consider.
First, the costs tied to website development and upkeep are substantial. An efficient, aesthetically pleasing website entails significant initial investment and ongoing maintenance costs. Whether hiring a team of web designers or continuously updating the site to improve user experience, managing a website is far from a minor expense, particularly for brands striving to optimize their digital footprint.
Next, cybersecurity is a considerable concern for marketers in an ever-evolving digital landscape. As the risk of cyber threats grows, safeguarding valuable data becomes a priority, often demanding investment in high-quality security software and services. Companies may also grapple with increasing cloud storage and hosting fees as their data storage needs expand.
App development, another form of owned media, also calls for notable investment. User testing, design, and development costs contribute to the overall expense. In addition, launching a substandard app in a competitive market can negatively impact a brand’s reputation, emphasizing the importance of adequate investment in app development to meet user expectations and safeguard brand image.
Finally, the cost of personnel is another crucial factor. Whether a brand chooses to have an internal team manage its owned media channels or collaborate with an agency, associated costs are inevitable. These professionals deserve fair compensation, continuous training, and access to the latest tools to stay relevant in their fields. While an in-house team might offer better control over messaging and campaigns, partnering with an agency could bring specialized skills and expertise.
Reflecting on these factors, it becomes evident that owned media is far from free. It demands investment in various areas, from web and app development to security software, cloud storage, and personnel. While the cost structure differs from paid media, marketers must consider these expenses to allocate budgets and resources effectively. By fully understanding these costs, they can make strategic decisions that maximize the value derived from their owned content channels.
How to Maximize an Owned Media Strategy
Developing high-quality content is crucial for CMOs who wish to maximize their owned media strategy. To create compelling and informative content, focus on understanding the needs and interests of an audience. This way, the content is engaging and relevant to their needs. Additionally, consider utilizing a mix of formats such as articles, videos, and infographics.
When tailoring content to specific platforms or audiences, it’s essential to recognize each channel’s unique characteristics. Each forum’s distinct style and user behavior, from social media sites to blogs, dictate what content works best. For example, marketers may want to allocate resources to generating bite-sized, shareable social media content and in-depth blog articles.
Search engine optimization (SEO) is another emphasis of an effective owned media strategy. A robust SEO approach is vital to rank higher in search engine results and achieve maximum visibility for branded content. Marketers must begin by researching relevant keywords and phrases concerning industry, products, or services, and incorporating these strategies in content aids in reaching the right audience and increasing organic search traffic.
On-page SEO tactics, including optimizing title tags, meta descriptions, and headers, can help improve search engine rankings. Off-page tactics, such as link building and brand mentions, show search engines that content is valuable and trustworthy. Thus, an effective SEO strategy results from a balanced combination of these practices, which brands must consider when crafting a marketing plan.
However, CMOs should remain mindful of potential counterarguments when leveraging SEO tactics. For example, some may believe focusing on paid advertising or social media engagements is more efficient. While these methods have their merits, a comprehensive owned media strategy prioritizes SEO can often provide long-term, sustainable growth, mainly when organic search traffic boosts overall credibility.
Overall, an owned media strategy that balances high-quality content creation, platform-specific tailoring, and search engine optimization can create significant long-term value for companies.
Final Thoughts: Emphasizing the Silent Power of Owned Media
Undeniably, owned media isn’t just a component of a marketing strategy – it forms the foundation that allows other aspects to thrive. It silently powers the PESO model (Paid, Earned, Shared, Owned), serving as a pivotal player whose importance cannot be overlooked.
Being the only type of media entirely under a brand’s control, owned media presents a unique opportunity to shape and steer the brand narrative. It offers marketers a platform to articulate their brand’s identity, values, and offerings, free from external influences. However, there are potential hurdles – such as the need for regular, top-notch content, the struggle to carve out a niche in a digital world brimming with content, and the resources needed to upkeep owned channels.
Even with these challenges, it’s crucial to remember that owned media isn’t a costless venture. On the contrary, it demands investment, both in terms of money and personnel, for content creation and platform maintenance. But these investments are not in vain; they yield significant returns, providing valuable customer data, enhanced brand visibility, and a direct line of communication with the audience.
So, what’s the secret to unlocking the full potential of owned media? It boils down to savvy strategy and implementation. Define the brand’s unique voice, maintain a steady content schedule, and remain responsive to audience feedback. A well-planned and executed owned media strategy paves the way for all other marketing elements to shine.
To wrap up, owning media within the PESO model is critical. It is the vital link connecting paid, earned, and shared media, providing the solid foundation of authenticity and control required in today’s dynamic marketing landscape. Its power should never be underestimated, nor its potential overlooked. With thoughtful strategy and execution, owned media can become the silent force propelling a brand toward success.
FAQ
Q. What is an example of owned media?
A. Owned media might take the form of a brand’s website, blog, or social media profiles – each controlled and curated by the brand itself.
Q. What is owned and earned media?
A. The term ‘owned media’ encapsulates channels a brand directly controls, including its websites, blogs, and social media profiles. On the other hand, ‘earned media’ denotes recognition obtained through promotional activities such as endorsements, media coverage, and social media shout-outs without direct payment for such exposure.
Q. What is an owned media strategy?
A. An owned media strategy is a comprehensive approach that emphasizes using a brand’s owned channels, including websites, blogs, and social media platforms. Its goal is to generate captivating content and establish a robust online presence, effectively reaching and engaging its audience.
Q. What is the main advantage of owned media?
A. The chief advantage of owned media is its absolute control over content, messaging, and updates. It enables brands to preserve their brand integrity and interact directly with their audience, independent of external platforms or the need for paid advertising.
Q. What are the 3 types of media?
A. Media can be classified into three categories: owned, earned, and paid.
Q. What is the difference between paid media and owned media?
A. Paid media involves advertising a brand buys to promote its offerings, whereas owned media involves channels the brand controls, like websites, blogs, and social media accounts.
Q. What are the 3 types of digital media?
A. Digital media manifests in three forms: owned, earned, and paid media or advertising.
Q. Which is the most common form of owned social media?
A. The most prevalent type of owned social media is typically a brand’s social media account. This could be a Facebook Page, an Instagram account, or a Twitter profile, where the brand can publish content, engage with followers, and handle customer interactions.
Q. What is owned media in digital marketing?
A. In digital marketing, owned media refers to a brand’s online channels. These include websites, blogs, newsrooms, micro-sites, and mobile apps, which disseminate content and connect directly with customers and followers.
Q. Why is owned media important?
A. Owned media is critical as it affords brands control over their brand narrative, fosters solid customer relationships, and enables them to reach their desired audience without depending on external platforms or paid advertising.
Q. What are owned media examples?
A. Examples of owned media abound company websites, blogs, social media profiles, email newsletters, podcasts, YouTube channels, and mobile apps all fall under this category.