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 now there’s new media…
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.
What resources do you already own?
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 here’s the most powerful new media model.
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. Many of these 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. Others make impressing livings from these opportunities.
One of “my” companies learned and grew to spectacular size
[Email readers, continue here…] One of the companies I am involved with started out by 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. That was quaint and unique at the time.
Since then, that company has grown to the largest influencer marketing company in the world, with over $100 million in campaigns, $2 billion in measurable sales and trusted by 60% of the Fortune 500 companies.
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.