Understanding Earned Media Will Transform Your Business
Traditionally there have been 2 kinds of media used in marketing products and services. These are Paid Media and Owned Media.
What are paid media and owned media?
Paid media is the one that most people are familiar with. You want people to buy your stuff so you pay for an Ad that will go out telling the public about your offerings. You pay you sell you pay you sell….
Owned media is media that you own yourself. For instance, your website, blog, youtube channel, twitter page etc… This is media that you control.
In fact if you go back 10 or 15 years you’ll find that most businesses only used paid media. Virtually no company could say that they owned their own media, save the TV networks, newspapers and magazines.
If you’ve been around the internet in the last 15 years you’ve seen business change their thinking about how important it is to simply have a website and then a blog, twitter, facebook etc.
This was the transition from paid media only thinking to paid and owned media thinking.
Well another transition is occurring all over again. And it’s addition of understanding that the next piece of the puzzle required for any business to stay competitive is to master Earned Media.
So, what is earned media?
Earned media is fundamentally different from the other 2 methods because it’s a bit of an abstract concept. Earned media is advertising by stimulating and controlling the conversation that the public has about your business or product. Unlike the other 2 kinds of media it isn’t solid (ex: rooted in a banner ad or a website), it’s completely based on social connections.
In the past almost no business used any kind of earned media save the fortune 500 super giant corporations. Well with the advent of the internet that’s all changed and these days it’s finally become possible for small businesses, even start ups, to use all 3 forms of media to grow their business.
This is the transformation that social media has had on the world.
As Internet Marketing Guru Jonathan Budd said in a recent email:
“Even more specifically… earned media is the collective good will you have built with all your prospects, customers, followers, partners, colleagues… everyone. Earned media is based on the true VALUE that you are delivering to your market place. Earned media is what happens when you really MOVE people, TOUCH them, INSPIRE them, & add a value to their life that will EXTEND beyond you.”
When earned media is done right it becomes viral media. People proactively, willingly and happily share your message around the world. For free! It won’t cost you a dime!
You create raving fans.
Just ask Apple.
Do you think that they’ve been as successful as they’ve been based on their TV ads?
Of course not. Their success is purely based on the fact that everyone and their mom is talking about how cool their products are. They’ve mastered the art of inserting their message into everyday conversation and created a cult like following. And they’ve done so much better than everyone else. Just ask an Iphone user how they feel about their Iphone.
Another great example is Facebook. They’ve almost completely taken over the internet in record time by doing the exact same thing
In this way earned media is much more powerful than the other 2 forms of media.
Now my goal isn’t for you to drop all your paid and owned marketing methods and to suddenly try to master what I’m talking about because all 3 methods work synergistically together.
Paid media is great for getting you started. It gets your message out there and bringing people to your owned media properties (your videos, blog, social media sites like facebook fanpages, email lists) then as you provide your visitors with immense value, products and services then you’ve create earned media.
At this point you’ve EARNED their respect. They now Like and Trust you and if you give them the slightest good reason to do business with you, they will.
The key is to be the person that providing the most value you can to the people in your niche.
In our network marketing world that translates into growing yourself and developing new ways of thinking. Surround yourself with mentors that challenge you to become the person you know you can become. Be a great and humble student
Become an expert in our industry.
Try things, experiment, don’t be afraid to make mistakes. That’s how you learn.
As you expand your skill-set, mindset, knowledge and experience you’ll then have valuable lessons to share.
And sharing will pay you dividends for years to come.
To your success,