Paid media, owned media, and earned media are three major forms of business marketing. Although paid media and owned media are more under your control, fusing earned media into this concoction is key for stellar marketing and promotion.
HubSpot defines earned media as any third-party material written about your business that you haven’t paid for. However, convincing others to create earned media requires your company to gain influence and deliver high performance. Consider these reasons why earned media is so important and how it can benefit your business.
There are many types of media out there, and one of the most obvious benefits of earned media is that it is free. Businesses that are new to the marketing game can easily spend thousands of dollars and achieve little success. If a company invests in the wrong marketing methods, it can lose tons of money quickly. Fortunately, no financial investment is made by your company with earned media, beyond your team’s time and resources. Your business literally ” earns” the right to be seen by providing quality content for sharing and consumption, or generating the interest of reporters or other content creators. Through a variety of channels, earned media is created and spread by others.
The Marketing Scope finds earned media allows consumers and brand advocates to produce and share material regarding their experiences with your company. The goal is to get them to create positive earned media that works in your favor. It is the average person, entities, and networks all over the globe and online that actually provide the fuel that propels any form of earned media forward into the spotlight. High-quality, likable earned media that represents your company can get noticed and be circulated through likes, shares, and referrals.
It boosts your brand
When someone or a notable entity decides to promote your brand for any reason, they are creating earned media to get you ahead. The positive promotion boosts your brand. When earned media is tied to a great brand, it has the power to yield significant influence. As your company gains popularity, your brand will obtain more exposure than ever. The product reviews, social media shares, and other promotional efforts done by people who adore your brand’s products and services elevates your company so that other consumers can share their approval. A smart security system can capture employees in action serving customers well, and you can put pictures of their great performance online and encourage consumers to share it. The more notable and memorable that your brand is for its activities, the more likely that you are to attract members of your target audience who are happy to support your company.
It complements other media
When earned media is used in combination with paid and owned media, you strengthen your marketing strategy. To get the most out of your marketing dollars, you need to maximize your potential income per consumer with harmonious earned media. Exceptional marketing initiatives include a variety of methods to draw attention through media sources. Sometimes, the most convincing piece of evidence to other consumers is reading another satisfied customer’s review or response. When earned media is shared by happy customers, it encourages other people to sample your company’s merchandise or services.
It saves—and makes—money
Earned media has the potential to help you generate all sorts of additional income while saving money. The first thing it does is prevent you from spending too many marketing dollars in unproven directions to support your business. The savings that you accrue from earned media can also be applied towards other aspects of your marketing campaign. Experts at The Medium suggest that companies can attract earned media by putting the customer first and encouraging people to like, share, and review the brand. Positive reviews online regarding your company from satisfied customers can bring more clients to your door. Anyone may decide to produce earned media regarding you and your company, and their choice may leave an opportunity to make money. Positive feedback from a social media influencer can lead to thousands of followers and sales overnight. When other people share earned media for you with you, your brand grows without any additional investment on your behalf.
Earned media provides a promising form of marketing for both new and mature business owners. Although all forms of media can be profitable, the idea that a company can benefit from earned media is a tactic worth implementing by any strategic marketing department geared to make an impact. Keep in mind that earned media can be reinforced to quality content and continuous great products and services from your company.