We think of media advertising as either paid or free – placed by paying a fee or by a PR firm or by you at no placement cost, especially when you provide editorial content beneficial to the publisher.
But this new era of Internet advertising has given rise to two more forms you should know and use in addition to the two traditional types above.
Owned media comes from the databases you own, such as your company’s web site, email
newsletters, profiles in social media, or apps you have created requiring registration or download.
And perhaps the most recent, most misunderstood and most powerful media is that which is “earned” using social media ambassadors, bloggers or influencers with massive followings. These third parties have built a trusted following sometimes into the millions. They are not generally paid directly for their posts, but earn reputation points and sometimes free goods for their efforts when including brand information in their postings.
[Email readers, continue here…] One of the companies I am involved with is expert at throwing expensive parties at events, giving free access to those influencers with massive numbers of followers, and showering these celebrity posters with free gifts, free food and even free rooms. It’s a great business that didn’t exist a few years ago; and many national advertisers are redirecting funds into these “earned” resources as they find new ways to reach this generation of digital native customers, those who don’t generally respond to traditional advertising.
Expand your definition of advertising to include four, not just two methods of finding your potential customers.