Owned media is any published content controlled by a brand or channel partner; typically their website and Facebook site and other social media. Earned media exposure is the buzz created through interest generated by frequent updates, promotions, pass-along readership and is generated by users, customers and friends of the site. This is one of the fastest growing media categories by Small/Medium Business (SMB).
Last year Emarketer reported that 66% of Brand marketers were increasing their investment over the prior year in Earned and Owned Media.
This year, a new Borrell research report on 2013 local promotion activity reveals that SMB’s have replaced much of their paid advertising investments with investments in promotions using Owned and Earned media. The economic climate appears to have dramatically changed the way SMB’s attract customers. Six years ago, SMB’s spent 10% more on advertising than they did on promotions. Last year they spent 81% more on promotions versus advertising. 81%! Without costly ad space, postage and printing costs…Promotions, discounts and loyalty programs are all being used as the fuel for this owned and earned media bonanza.
Leading brands are leveraging this trend in three ways. First, they recognize their role as a brand content publisher. Freed from depending upon paid advertising to get the word out, leading brands are creating content on landing pages that can be cobranded with their retailers to link from any number of owned and earned media properties.
Second, they put this brand content in an adbuilder system to make it easy to access, publish and track.
Third, brand marketers realize they have owned and earned media too! Content created for one purpose can be easily repurposed for retailers. Those co-branded landing pages can also be re-used in the retailer locator at each location listing. Implement a subscription system and all this can be updated automatically. That’s smart.