Why should you know the difference between paid, owned and earned media? Simply put, to create a marketing strategy that is integrated and yields results for your business, it is good to know how to utilise paid, owned and earned media. Thus, what are the differences between paid, owned and earned media?
The brand pays to leverage the platform/ channel. Any form of advertising falls under paid media.
Examples: Social media ads, display ads, paid search, affiliate/ referral/ influencer programs, television ads, radio ads, out-of-home ads, sponsorships.
The brand controls the platform. Media that belongs to a brand falls under owned media.
Examples: A brand’s website, newsletters, social media accounts.
Customers or third parties voluntarily become the channel for the brand. Essentially, they become your brand’s champions. Traditionally, this would have been Public Relations, but in recent years, even PR campaigns are paid, as most brands positions their PR.
Examples: word-of-mouth, “viral” content, SEO, reviews, social media posting from customers and third parties.
These are tools for your business to use. A strategy should consider all 3 to optimise visibility for your brand. Each tool has a place in strategy. Consider ROI on each tool to see which tool is best at this point in time for your business.