The term “media” is a pretty broad concept. We hear the term daily. And it seems to apply to so much in our world. Which can make it a tough notion to get your arms around.
But when it comes to marketing media, there are four distinct flavors…
- Owned Media
- Shared Media
- Earned Media
- Paid Media
And why are these four flavors of marketing media important?
Think about the most successful businesses in your field. Odds are it seems like they’re EVERYWHERE. How do they manage this? They’ve mastered all four types of marketing media.
And practically speaking, this everywhere-ness and marketing media mastery results in said businesses consistently attracting new, well-qualified leads, and converting a majority of those leads into paying clients.
Now, if I know you at all, you’re probably wondering… How are these four types of marketing media defined? And, most importantly, how can leveraging them help grow your business?
Let’s pull out the ole metaphorical microscope and take a closer look…
1. Owned Media
Do you have a blog? A “News + Notes” page on your website? A newsletter, whether email or in physical print form? A brochure, whether in physical form or in PDF format posted on your website or shared via email?
Well, these are ALL examples of “Owned Media.”
And owned media is how you share your message directly with prospects and existing clients. Owned media is distinguished from other types of marketing media in that you…
- Control the message (unlike with earned media, which is crafted by a third party)
- And don’t pay for distribution (unlike with paid media, where you pay a third party for advertising or promotion).
Next up, we have…
2. Shared Media
Until fairly recently, there were really only three commonly accepted types of marketing media — Owned, Earned + Paid.
However, with the ever-increasing presence of social media as one of our most prevalent communication channels, Shared Media was added to the list.
And as my note above about social media’s growing influence implies, shared media is media that you “share” via your social channels.
It’s likely the same content you’re publishing to your blog, posting to the news + notes page on your website, and featuring in your newsletter.
Now, it’s fair to say shared media could be considered a part of owned media. But the “shareability” built-in to social media, along with its immediacy and micro-communication capabilities, all lend to the possibility of shared media “going viral.”
And virality is what ultimately puts shared media into its own category. Because the reach of virality, with its potential to spread like digital wildfire online, extends faaaaaaaaar beyond the reach of the rest of your owned media properties.
Virality is even more prized than our next type of marketing media…
3. Earned Media
Before “going viral” was the end-all-be-all it is today, the most coveted form of marketing media was earned media.
And it’s still highly prized, but anyway… This term refers to your business “earning” coverage in news, culture-oriented, and other media outlets. Specifically, this includes…
- Mentions in local and national publications
- Profiles of your business, you as its owner, or your employees in magazines (print and web-based), trade publications, and industry publications
- And feature articles highlighting your services, successes, and other good work your business is doing
Why is earned media is so valued?
Firstly, because you’re not paying for the exposure, it arrives unbidden, solely in recognition of your efforts.
And secondly, because it’s highly visible recognition delivered by a neutral third party acting with no external motivation or promised compensation.
And for those caught aware, this type of media is what keeps the lights on at Public Relations firms around the globe. This also brings us to our final form of marketing media…
4. Paid Media
Last, but by no means least, we have advertising and paid promotion — AKA Paid Media.
Paid media is when you…
- Buy ad space in print and online publications
- Buy banner ads on third-party websites and eNewsletters
- Buy display ads like billboards, featured signage, bus bench ads, and the like
- Sponsor events in exchange for promotional mentions
- Run Google, Facebook, and other paid social media ads and promoted posts
The Takeaway — How Can The Four Flavors of Marketing Media Help Grow Your Business?
At the top of this post, I teased how businesses that have mastered the four types of marketing media are KILLING IT.
What is this mastery of which I speak? I can sum it up like this: A Balanced Attack.
Meaning… Depending solely on any one form of marketing media excludes potential opportunities in other forms.
For example, relying strictly on owned media (like in inbound marketing that drives traffic to your websites) excludes less internet-savvy folks that still consume traditional print media publications.
And constantly swinging and missing in an effort to “go viral” or pining for media coverage that never comes, while ignoring inbound marketing and refusing to pay for ads can also leave a huge hole in your lead generation and sales conversion process.
The point being, the most successful businesses don’t put all their proverbial eggs in one basket. Instead, they spread out their resources, ensuring they’re well represented in ALL four forms of marketing media.
What About Your Business?
Are you leveraging all four forms of marketing media to promote your business? If not, you’re missing out on potential leads and lucrative conversions.
The good news is, I can help! Let’s take a look at your current marketing mix and figure out where we can fill in the cracks.
Get in touch muy pronto for a FREE consultation: 310.466.7893 | ryan@ryananys.com
