Content Marketing is the phrase on every Marketers lips for 2016, but what are the different types of content available for your business?
In a nutshell, there are 3 types: Paid, Owned and Earned.
As depicted above, paid media is often described as “traditional marketing” as it can be anything from a paid search campaign to professional video content production. While it can be very expensive, paid media gives Marketers control over the content and creative elements.
Owned media is content that is created and managed in house. It includes content websites and social media accounts such as Twitter and LinkedIn. Owned media is often forgotten by Marketers who have been brainwashed by their agency to think that the paid approach is the only way to go in targeting customers.
Earned media is one of the most undervalued assets in modern marketing. Earned media includes traditional word of mouth but also customer success stories in the form of blogs, reviews and testimonials. Research points to the notion that buyers will favour opinions of peers when making purchasing decisions so the value of this content can not be underestimated.
The key is to take a holistic approach to your media content strategy. Using 100% paid media may yield some results but at a sizeable cost. Earned and owned media are often overlooked when creating a content strategy because businesses believe they do not hold any value. By using a combination of all 3 the chances of success dramatically increase.