What Is The Difference Between Paid, Earned, Owned, and Shared Media?
The world of marketing media has shifted dramatically in the last decade. And if you weren’t paying attention you could very easily feel like you’ve been left behind. But as vast as this world may seem, the media options available to your business can actually be understood by simply categorising them. So here’s what you need to know about the different types of media at your disposal:
The term ‘media’ relates to many different channels which a business might harness in order to attract potential customers. There are four different types of media in what is known as the PESO model:
1. Paid (advertising)
This refers to advertorials, advertising, sponsored content and sponsorships. Your paid media channels can include adverts on TV, radio, print or any other activities you need to pay for in order to appear. In the online space this also includes online advertising like pay-per-click and Google Adwords, paid advertising on Facebook and Twitter, and banner ads.
2. Earned Media (news coverage)
This refers to earned media coverage and is content that someone else has created which relates to your business, service or products. This content sits on their sites and doesn’t belong to you. It is generated by media relations and occurs when you get your business featured online, in print, on radio, a podcast or TV. It can take many forms like you may appear in a quote or product appearance, review, mentions on social media or interviews. The tricky thing about earned media is it is so hard for your pitch to stand out, especially when you consider that 57% of top publishers receive up to 500 pitches per week. This means that earned media takes time, energy and tenacity to secure and often requires a PR professional to get the job done.
3. Shared (on social media)
This refers to the ever-evolving social media space. Shared media has fast become a mainstream marketing channel for companies both internally and externally. What you need to keep in mind is that the moment you share your posts on social media, your content is out of your hands. The comments, shares and engagement is totally up to your audience and the process is out of your control. This means that tiny mistakes can have big consequences for brands. For example DiGiorno Pizza posted a tweet that misused a trending hashtag, revealing that they didn’t do enough research before hitting the “publish” button. On the flip side, a well-received social media campaign can yield really promising results. It also is a place where your owned, earned and paid media can all come together. Making your social accounts a very powerful place to share all your other content, spread brand awareness and gain more followers.
4. Owned (web content)
This refers to channels that you can control. It refers to the content that you create on your website, blog, e-books and presentations. You are in charge of the content and the various distribution channels. This can sometimes cross over into social media but on a technical level, social media companies are leasing an account to you. So you are subject to their conditions and if they close, your content goes with them.
The bottom line
The PESO model is a neat way to understand all the media opportunities at your disposal. At the end of the day the route you go comes down to time, budget and resources. But a healthy mix of the PESO model will see you playing across paid, earned, shared and owned media spaces. Helping you attract and cater to an array of clients on a consistent basis.