What is owned media?
Owned Media is any marketing channel that the company maintains complete control over such as a blog, social media account, or an email marketing campaign. These kinds of marketing have many beneficial attributes, many of which stem from the control a company can exercise on their platform. Owned media is cost-efficient, as most social media platforms are free to use, has a lasting presence, and can be a versatile building block in any marketing strategy. What’s more, owned media is the first step towards achieving earned media, such as reviews or testimonials, which most consumers still view as the most dependable source of information about a product or service.
How can owned media help attract earned media?
For instance, a growing and active social media platform, like a well-maintained Facebook page, is more likely to receive earned media in the form of shares, posts, or pictures. As companies are not able to exert complete control over their presence on social media, nor able to entirely access user data or tailor the experience beyond a certain extent, many view social media platforms as “rented” rather than “owned” media. Despite this, they remain an invaluable tool for businesses that are just starting out, thanks to their low cost and high user counts.
What other forms can owned media take?
Blogs and email campaigns are considerably more flexible. With the help of a good developer, almost any kind of aesthetic is achievable and content can be divided in a more logical manner. Content channels are the vehicles through which you can start to reach out to your audience and by giving them information that is relevant and engaging, they’ll return to your platform again.
Can it help form a community?
Through this, a community can be formed around your company where customers can engage with each other organically and continue to spread the word. While building such a community on your own platform as opposed to social media is significantly more challenging, it pays incredible dividends once done. Finally, owned media allows a company to create a sense of context around itself, extending its relationship with customers outside of the purely transactional realm. This context not only provides a richer experience for the consumer but can also be built upon, allowing the creation of a nuanced narrative surrounding the business.
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