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138: Earned, Owned & Paid Media - Know Difference for Social Media Marketing Success
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Remember the days of simple media and mass communication? The days marketers would simply buy an ad, tv commercial slot, throw out some direct mail, a few magazine ads, radio spots, measure the response and get on w/ their day job of herding cats, taming elephants and locking up the crazy monkeys in-house begging them for everything under the sun ;) Joking but you get the point.
Media is not simple anymore, not that it ever was, but now it’s even more complex. It’s not just the explosion of social media, but the fact that according to a Nielsen study that confirmed the most trusted source of info in all countries surveyed world wide is earned media, also described as what use to be known as word of mouth. The issue is that many are confusing earned media with paid media and owned media. They are blurring them all together and as a results wasting millions of dollars, ticking off their audiences, ruining relationships with thought leaders and influencers and the list goes on.
Today we are kicking off a new “in a nutshell: mini-series on the 3 types of media you must understand if you want to be successful in the online world and with digital marketing - paid media, owned media and the favorite earned media.
This mini series is part of a larger “you are the media” and “influencer marketing” series.
In today's episode we will cover in detail the definition of paid, earned and owned media.
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