Paid, Owned and Earned Media: The Successful Knockout Combination
There is so much noise going on in the world today. Consumers have numerous social media channels, blogs and even traditional media feeding them with entertainment, information and loads of advertising in between. Even within the business community of experts, there is so much information being shared it has become difficult to find the one voice to follow in order to determine which steps to take to lead to success.
As business owners and marketers we understand there are three ways to gain a larger share of the pie. We all know we can pay for branding, share our information out or earn the attention of the media. The Paid, Owned and Earned Media discussion is a popular one, but also overwhelming when you just don’t know which to do. And let’s face it. When you’re back is up against the wall and investors want to know what are you doing, employees are wondering if you’re going to close, you need clear guidance.
So let’s talk about what is a successful combination to help your business survive and grow.
As a boxing fan, you can just appreciate seeing an athlete enter the ring and delivering a series of combinations in order to get to the TKO, the knockout. It is so rare a boxer comes out and knocks their opponent out in one punch. It has happened, but it is rare. This is true for the business world too. You would be hard pressed to find a business who opted for only one way to reach their audience and immediately succeeded. It takes several strategies and different outlets to win over customers. Taking the proper approach is the mental game to winning in the business ring.
So which is right for you?
Above are the three types of media.
- Paid: The Short Game. The quick way to reach your audience and provide brand recognition opportunities to them.
- Owned: The Long-term Game. You consistently build and maintain a presence so the public is able to see you as a resource.
- Earned: The Medium Game. It takes time to earn the public’s attention through the media. When you do receive notice, its short-lived due to the next latest and greatest story being shared.
The successful winner of the fight understands the mental game. Playing a strategic game is the key to success. The person who can take aspects from each column above and utilize them to approach their demographic will win hands down over the person who only selects from one.
If you launch a new product or service, pull from each column. Updating you entire marketing strategy? Pull several strategies from each type of media. It’s not about a quick dollar, but building prosperity for today and the future.
Former boxing amateur, now businessman, Chad Howse said in an article relating his life to being an entrepreneur, “Don’t even think about the knockout when you start your journey, just keep punching, writing, creating, and innovating, and the knockout will come. If you think success comes quickly, you’re more likely to quit when the world proves you wrong.”
The use of the multichannel approach in marketing will not be disappearing any time soon. If you are looking for the win, you will be selecting multiple combinations above from each column to get your own knockout. You will see your knockout happen with even more ease with the use of marketing automation and digital resources.
What do you think? Are you ready to pull a knockout? Are there any points above you still have questions on? Be sure to comment below. Your response may be used in future posts.
Above Promotions is a full service publicity, digital marketing and promotions company, founded with the purpose to serve an array of clients that are looking to expand their presence in the marketplace. From a local to international market, Above Promotions Company can provide the exposure that goes above your expectations. Visit http://www.abovepromotions.com today.
Ebony T. Grimsley is the Creative Director and Owner of Above Promotions Company. She is also the author of “Because You’re Small: Effective Marketing Strategies for Immediate Implementation” which is sold on Amazon, Barnes & Noble and other stores and a contributor to various media outlets.