Paid, owned, and earned media (POEM) is a framework that marketers use that includes a blended approach of traditional marketing and digital engagement to drive results. The POEM media differentiates media based on ownership and control.
Paid media is closer to traditional marketing. You pay a third party to help you broadcast your message to other individuals. At first, glance paid media might appear archaic or unnecessary because one of the strengths of web marketing or social media is that it allows you to avoid pitfalls of paid advertising by exposing your brand to diverse users in new, different, and engaging ways. While this is true, it must be noted that paid media is one of the oldest ways to reach out to your consumers.
Owned media – Owned media comprises of digital marketing channels that a company exercises complete control over, such as their branded websites and social media. Owned media is the building block for online marketing efforts. This is due the following;
Control – No worrying about whether an ad was displayed or done otherwise.
Reach -Targeted social media posts and content that aim to rank for long-tail keywords can expand a business reach quicker than other forms of media.
Versatility – Businesses can post a variety of content on their pages.
Cost-effectiveness – Owned social media is free to use.
Earned media -Earned media is marketing by an eCommerce company’s customers, online audiences, or other third parties. It promotes a brand without any incurred cost or labor, instead, it gets shared and published by people who like the content or invest in your success. This happens when a shopper writes a company reviews on Yelp, a satisfied customer publishes a public thank you on Facebook or a news site releases details about your new product.
The concept of earned media has flourished. With the popularity of social media channels, users often pass along information about brands and product reviews to their social networks.
Of course, earned media has its advantages, this includes;
Cost-effectiveness – a motivating audience with the right content gets viewers to share materials for you instead of pouring resources into flooding platforms.
Trust – A 2013 Nielsen report has it that consumers saw earned media as the most dependable source for business reviews.
INTERRELATIONSHIP BETWEEN THE THREE ELEMENTS
Owned media and earned media –Owned media leads to earned media. While owned media has its effects on consumer purchase behavior,78℅ of people said the company’s post on social media impacted their buying. According to Invesp- businesses can also increase their leads and conversion rated by investing in paid and earned versions. The first step to gaining earned media is steadily producing effective owned media. With an alluring and compelling content, online publications and social media users take note.
2. Paid, owned, and earned media- Improving upon and leveraging, owned media efforts often increases the effectiveness of paid media for businesses.
3. Paid media and earned media – Technically, social media is earned media, but it allows for paid placements. This makes it a platform that supports varying strategies, techniques, and campaign types.
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