When we think of channels, we often think social and online channels. Business owners rarely think in context of media channels, but they should.
Channels should be thought as owned, earned and paid media. There’s a difference not only in the way you attract attention to your products and services, but also who you attract as well as the dollar investment you make.
- Owned media is when you leverage a channel you create and control, speaking directly to your customers and prospects with email and direct mail, on your company blog, website, and social media channels.
- Earned media is where print / broadcast media and the public share your content. Your customers, prospects and news outlets become the channel.
- Paid media is when you pay dollars to leverage a third-party channel, such as sponsorships and advertising.
Earned media is obviously the most attractive to businesses. With owned media getting harder and harder to break through the noise, good publicity in trusted media is a powerful tool for building recognition with customers, potential customers, suppliers and investors. As good as old-fashioned ‘word of mouth’, it’s usually considered more credible than paid and owned media and can be achieved cost effectively.
However, it’s equally important to be ‘investing’ in all three media channels or order to optimize traffic and customer growth. Ideally, businesses should be investing 50% of their efforts into earned media and the balance split between owned and paid media channels, depending on your resources and budget.
How much of an investment are you making make in your media channels?
Deanna White has always been passionate about marketing and public relations. Owner of storylinePR, Deanna is best known for taking it beyond the pitch. For building brands & bottom lines with the right channels to share your story. http://www.storylinepr.ca.