The marketing phrase “owned media” is becoming more and more prominent. There is good news – this time, the new marketing term isn’t exactly something brand new, it’s more of a way of summarizing a genre of marketing. The bad news might be that the term has further solidified the importance of a segment of marketing that increasingly requires more investment.
Let’s define it first: Owned media refers to all of the elements that are communicated through a company’s website, blogs, social media, ePapers, white papers, and demand and lead generating content. Owned media could also refer to corporate videos and marketing materials.
To break this down further: Demand generation is the process of taking content and marketing directly to specific sets of target customers, while lead generation refers more to connecting to revenue generating audiences through paid media, such as a LinkedIn advertising strategy or paid placements of editorial content. Everything that a company writes, creates and spreads around the internet or elsewhere – it’s their owned media. Public relations is defined as earned media, which is only garnered through placements in third-party media outlets.
The term owned media is gaining ground because organizations are creating and executing a variety of different types of content to stay connected to existing customers and stakeholders, to showcase their expertise to prospective customers, and to invest and fulfill the brand’s value by delving into the key issues that matter most to their most important audiences.
Why is owned media important to complex sectors?
1) Owned media builds the brand. A company’s brand is more than the logo. Through owned media, the brand is spun into existence and into concreteness through concepts within social media, ePapers and other content. The brand is personified through the ongoing communication of its differentiators in varying lights within these mediums.
2) Owned media extends marketing. Facets of owned media, when combined, create a deeper external presence and more reach by providing resources for stakeholders to engage and learn. Whether the goal is to connect with industry talent, prospects or partners, a company’s ability to articulate its strengths in applicable and meaningful ways clarifies questions upfront for individualized selection.
3) Channels of owned media provide showcases. Many complex organizations offer more than one area of expertise – and to avoid being pigeon-holed or to go after areas of identified growth potential, owned media can represent a tapestry of marketing content. By using the channels available, organizations can truly showcase their differentiators and markets without compromising depth.
4) Owned media is the future. As new generations of decision-makers engage and higher expectations of brand presences take hold, complex companies face an opportunity to advance their industry and expertise through owned media. At the same time, there are growing risks if they choose to opt-out of owned media – namely competitors using the platform to drive engagement and important conversations.
Owned media is a label for an interrelated series of content-driven marketing programs. To be effective, the landscape must be orchestrated to reflect a brand and a vision, as well as a business strategy aligned with revenue-generating goals. The biggest takeaway from this marketing term is really about looking at all the facets of owned media as a body of works designed to support and drive the underlying value of the company and its brand.