bumblebayytuna

Creativity that fits "Like a glove!"

on 04/10/2012
Here is a definition of the difference between earned, paid, and owned media, according to Sean Cocoran. According to Cocoran, “they can be applied as a simple way for interactive marketers to categorize and ultimately prioritize all of the media options they have today.”
Here are some items that Cocoran suggests to consider when creating an interactive media strategy:
  • Create a solar system of owned media. Owned media creates brand portability. Now you can extend your brand’s presence beyond your web site so that it exists in many places across the web – specifically through social media sites and unique communities. In a recession in which marketing budgets are being cut by 20%, the ability to communicate directly with consumers who want to engage with your brand through long-term relationships can be invaluable.
  • Recognize that earned media is a result of brand behavior. The term has evolved into the transparent and permanent word-of-mouth that is being created through social media. You need to learn how to listen and respond to both the good (positive organic) and bad (spurned) as well as consider when to try and stimulate earned media through word-of-mouth marketing.
  • Your paid media is not dead, but it is evolving into a catalyst.  Many people are predicting the end of paid media (aka advertising). However, that prediction may be premature as no other type of media can guarantee the immediacy and scale that paid media can. However, paid media is shifting away from the foundation and evolving into a catalyst that is needed at key periods to drive more engagement.
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