What Are Owned, Shared, and Paid Media for Your Digital Marketing Planning?

 

Source: Sprouts Special

Owned media, shared media, and paid media are the three components that make up a digital media strategy. It's up to you to assess these three media types and choose how to invest your resources. So that it serves your brand the best. To know more about what is owned, shared, and paid media, read the full blog. 

Shared Media

Shared media is the contemporary media where marketers and customers create content together. Shared media includes anything liked, commented on, or shared on someone else's social media posts. It also includes content that is exchanged between two owners or across third-party platforms.

It's simple. There is no physical documentation on both the brand's page and your profile whenever you like, post on, or comment on a brand's Facebook page. Another point about shared media is that even if a brand chooses not to take part the consumers can still post content about the brand.

Shared media can also be known as online word of mouth as it drives traffic to the brand. Some forms of shared media are reposts, shares, and reviews. Marketers can include shared media in their marketing mixes in various ways:

• Social Media Marketing

• Opening up Discussions on their Website 

• Participating in review websites 

• Listening to what people are saying about them online

Owned Media

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Owned media is a web property unique and under a brand’s control. Owned media is built to form long-term relationships with potential customers. It is both cost-effective and versatile as the brand can focus on niche audiences. Owned media is any online asset that you own specifically for your brand.

Because a brand controls its own media, there are times when its communication is not trusted. There is no guarantee that what the company says is the truth. Also, it takes time for a brand to have a properly owned media property.

A website is one of the most prevalent forms of owned media. Yet, blog sites and social media accounts are also owned media. Blog posts and social media networks are extensions of your website. The more owned media you have, the more opportunities you have to increase your brand's presence online.

Hired Media

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Hired media is also known as paid media. This is the most common way to promote a brand and drive immediate traffic. When brands pay customers or influencers to leverage the channel it's known as hired media. Paid media is just marketing that you pay for. In a broad sense, it is used to advertise content to generate earned media and send visitors to owned media properties.

Paying for content promotion can help get things started and increase exposure. Paid media advertising is available on social media platforms like Facebook, Twitter, and LinkedIn. These may assist in promoting both your content and your website. Paying influencers to promote your goods or services can make you go viral by increasing its visibility and recognition. Retargeting, Pay Per Click (PPC), and display advertisements are efficient paid media options. These are more direct ways to route searchers to your owned media. 

Hired media is the most in-demand media at present as brands can decide and control this media. However, it might lead to poor credibility in some cases. It also has the highest declining response rate among all media. So, it's not always the media you should think about. 

Some examples of paid media sponsorship are display ads and paid searches. 

What Are Influencers? Owned, Shared, or Paid Media?

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Influencers can be any or all of these. An expert in the industry who discusses the industry is an "owned media" influencer. The term "shared media" influencer refers to a fan, extremely devoted to your brand. A conventional "paid media" influencer works with a brand in sponsorship to promote their products and services. 

Key Takeaways

• Owned media platforms are an extension of your brand and offer new ways for users to engage with it. The more, the better when it comes to owned media, provided you can manage it.

• Shared media serves as the engine that generates leads and interaction for a business. There are many ways for a brand to acquire earned media. Two of them are excellent SEO and marketing strategies.

• Paid media drives visitors straight to your owned media networks. It is a fantastic approach to showcase content for more traffic. 

Written by Garima Jain