Marketing for which you pay is called Paid marketing. It includes TV ads that run on TV, print advertising that is in newspapers, sponsorship ones, and other types of media. Paid media in digital marketing consists of pay-per-click which is also known as PPC, advertisements, paid social media ads, and search engine marketing (SEM). It is also called media advertising. Its a type of a marketing approach that encompasses any marketing methods that you pay for. Sponsored media on the internet includes paid search advertisements, retail ads, display ads, social media ads, and more. All of these advertisements are designed to put you in limelight with the right people at the right moment. If you have a killer paid media services specialist like HYPE, you can segment and place these advertisements effectively to reach your target people.
Why is it important?
Paid media is seen as a crucial strategy in the digital marketing plan. It allows you to get in front of your target audience and engage them where they already spend their time. It refers to when a small business pays for placement on a platform such as a website, search engine, social media, video advertisements, website pop-ups, newsletters, and so on. What is paid vs earned media or free media? Earned media compromises of methods that are not paid, such as customer reviews and magazine articles. You need to have a balance between paid media and earned media which will be important in the long-term in the promotion of your small business.Examples of Paid media include:
- Paid search results
- Facebook and other social media ads
- Newsletter sponsorships
- Influencer marketing
In media you would come across these three media terms: paid, earned, and owned. You know they’re all essential tools that may help you build your business, but you might not be sure what each one includes.
What is Earned, Owned and Paid Media?
It is important to distinguish between three types of media channels that is paid, owned, and earned media channels.
It is a type of advertising on media channels that promotes your ad in exchange for a fee. Advertising platforms enable you to broaden the reach of campaigns and raise brand recognition by utilising various sorts of material such as photographs, videos, texts, GIFs, banners, search engine advertisements, collaborative content, and so on. It allows you to reach your target audience and boost your business.
Owned media are media that you create, market, and manage in order to grow your business. A product website, social media pages, a corporate blog, and a YouTube channel are among the channels available. The audience for owned media is made up of current consumers. The primary purpose of having your own media channels is to establish long-term and trusted relationships with your audience. They can be used as landing pages where potential clients come from paid media. Mostly the conversion depends on the quality and relevance of the company’s content.
Word of Mouth is the base of earned media. Your business is praised genuinely. Most of the viral material you see comes under earned media. Those media audiences include brand enthusiasts, subscribers, and leads in the consideration stage. These individuals develop user-generated content (UGC) and promote your company through word of mouth. Recommendations, mentions, site debates, likes and comments, online reviews, and content sharing are examples of such media. Earned media channels are there to help. Earned media channels help to create a recognisable, honest, and trustworthy brand image. This is the outcome of a well-planned marketing strategy, strong consumer brand recognition, and active promotion of your company.
It should be used in combination with earned and owned media to help your company develop. Each of the channels involves time and money, but if you have a decent strategy that can pitch you client and properly set up advertising, their utilization will be beneficial. To achieve a powerful impact, you should be integrating them in your marketing approach.