Marketing today thrives on the concept of content, with businesses from all industries striving to create and distribute engaging content that speaks to their audience. In this pursuit, two distinct strategies have emerged; Owned media and Paid media. While both are essential for today’s businesses, it is critical to understand the differences and master the art of balance between the two.
What is Owned media?
Owned media, as the name suggests, is the content that you own and create on channels that you control. Typically, these channels include your website, blog, and social media profiles. The content created on these channels help to build and nourish a brand's identity. The primary goal of owned media is to create meaningful connections with your audience, providing them with valuable information and insights that they can't find elsewhere.
A robust owned media strategy requires continuous investment in creating high-quality content that aligns with your brand message and target audience’s interests. With owned media, your goal is not just to engage the customers with your current content, but also to create content that will keep them returning for more.
What is Paid media?
Paid media, on the other hand, refers to the promotional content that you pay to publish on third-party channels such as Google or social media advertising such as Facebook Ads, LinkedIn Ads, and Instagram Ads. Paid media’s primary goal is to increase visibility and exposure for your brand, products, or services. It helps you reach new audiences and promote your content to your target audience.
While the cost of paid media can vary based on the channel and the nature of the content, they can be highly effective when done correctly. Paid media campaigns are customizable, allowing you to narrow down your target audience, demographics, and interests. They can help you quickly test different content ideas and receive instant feedback on what resonates with your audience.
The Art of Balance - Why You Need Both Owned and Paid Media
While each of the above strategies is crucial to your success, what’s more important is having a balance between the two. Combining your owned and paid strategies help to maximize the effectiveness of all your efforts while building a comprehensive marketing plan.
Your owned media is the foundation that supports all your promotional efforts, and paid media extends that message to more potential customers. A good balance between paid and owned media will help you build a steady flow of traffic to your owned media channels and build up your audience. These audiences can then be targeted with paid media campaigns, leading to a level of engagement that is unmatched with paid media alone.
Today’s digital landscape demands a sophisticated, multichannel approach that requires integration across all customer touchpoints. By mastering the art of balance between owned and paid media, businesses can create a comprehensive and successful marketing strategy that resonates with their target audience and drives results.
At the end of the day, to achieve the desired marketing success, you need to ensure that you have a solid owned media foundation, propel your content with paid media, and balance the two effectively.
