Storytelling Platforms - Paid; Owned & Earned Media

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Information about Storytelling Platforms - Paid; Owned & Earned Media
Business & Mgmt

Published on February 28, 2014

Author: IRMPL

Source: slideshare.net

Description

Storytelling platforms are those platforms which are used by companies to promote their products. These platforms also help companies in maintaining long-term relationship with existing customers. These platforms are Paid, Owned and Earned Media

Storytelling platforms February 28, 2014

Platforms Owned Media Paid Media Earned Media

Paid Media Example You pay to leverage a channel    Advertising in any medium, e.g. print, broadc ast or digital Paid search Sponsorships Role Shift from a foundation to a catalyst that feeds owned and can stimulate earned media Source: blogs.forrester.com/interactive_marketing/2009/12/defining-earned-owned-and-paid-media.html Benefits     On demand Immediacy Scale Control of message Challenges    Clutter Declining response rates Poor credibility

Examples

Owned Media Example You own and control the channel        Company websites Mobile Apps Blogs Corporate brochures Twitter account Facebook page YouTube Role Build a long-term relationship with existing and potential customers, and earned media Source: blogs.forrester.com/interactive_marketing/2009/12/defining-earned-owned-and-paid-media.html Benefits    Control Cost efficiency Delivers brand promise Challenges    Company communicati on not trusted Takes time to scale No guarantees

Examples

Earned Media Example You reach out and interact through third-party channels       PR in traditional media outlets Twitter account Facebook page YouTube channel Flickr account WOM, Buzz or ‘Viral’ Role Two-way information flow between company, custom ers and between various media types. Talk, listen and respond – earned media is often the result of well-executed and well coordinated owned and paid media Source: blogs.forrester.com/interactive_marketing/2009/12/defining-earned-owned-and-paid-media.html Benefits        Most credible Increasingly key role in sales Transparent and lives on Cost efficiency Versatility Organization al learnings Humanizes organization Challenges     Little or no control Can be negative Takes time to scale Can be hard to measure

Examples

Control & Reach Source: conversations.marketing-partners.com/2011/01/paid-owned-and-earned-media-channels-are-you-in-the-right-place/

Myths Myth #1: All you need is owned media. Myth #2: Paid media is more expensive than any other kind of media. Source: smallbiztrends.com/2013/08/what-is-owned-earned-paid-media.html

Convergence Paid Media Owned Media Converged Media Earned Media Source: www.web-strategist.com/blog/category/converged-media/

Surround sound effect Owned Media Paid Media Source: www.web-strategist.com/blog/category/converged-media/ Earned Media

Disadvantages  Fragmented messaging, inconsistent branding  Redundant efforts, no communication collaboration  Departments competing for budget  Low customer engagement/advocacy Source: www.web-strategist.com/blog/category/converged-media/

Quiz Which media type are Facebook and Twitter? Answer: All three! Paid Media  Sponsored ads, promoted tweets Owned Media  Branded Facebook or Twitter page Earned Media   Fan/user-generated content posted related to brand May be on brand’s page or elsewhere Source: www.web-strategist.com/blog/category/converged-media/

Facebook Owned Media Earned Media Paid Media

Twitter Owned Media Paid Media Earned Media

Key Takeaways  All three elements, owned, earned and paid are important to a marketing strategy.  Paid media is a great way to promote content in order to generate more earned media and can also be used to drive traffic directly to your owned media properties.  Owned media is an extension of your brand and create additional avenues for people to interact with your brand.  Earned media is the vehicle that drives traffic, engagement and sentiment around a brand.

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