Owned Media Strategy

Recently updated on May 6th, 2024 at 10:11 am

In the media world, there are a multitude of platforms and publications where brands can publish content to market themselves effectively. Understanding which media to use for your marketing strategy is key to reaching success. In this article, we’ll expand on the owned media options available and how to incorporate them into your marketing strategy.

Let’s start by looking at media that brands can effectively own themselves. Owned media are the digital assets, platforms and content that a brand has full control over. These assets and platforms include, but are not limited to a website, social media accounts and email lists. Owned assets typically offer larger returns for minimal costs.

The distinguishing feature of an owned media strategy is that it gives companies full control over their marketing efforts, communications and campaigns. This strategy gears brands to be more accommodating of their audience’s needs and interests and offers insightful data on audience behaviours and sentiments towards the business.

The Media Family

The rule of four is often known to bring about the best outcomes, and the same is true regarding the types of media strategies available to brands. Aside from owned media, there are three other types of media strategies that brands can employ to improve their marketing and public relations (PR):

Paid Media

Paid media is simply using money to get your content in front of an audience. It allows you to gain more reach and impressions on content, by marketing your products or service to a larger audience base. Paying for placement in a magazine issue or on a 3rd party platform such as Google, are examples of paid media. You can only access these options when you have the budget to pay for them. 

Earned Media

Earned media is the publicity and exposure gained through word-of-mouth, mentions or media coverage without direct payment or control by the brand. When your brand’s product or service gets positive reviews and recommendations from customers via social media or online publications, leading to increased brand visibility and credibility, your brand has earned that exposure. PR activities often fall into the earned media category.

Shared Media

At its core, shared media is social media. Shared media relies on user engagement and participation to reach a wider audience. This means it allows your brand to build relationships and connections with audiences, by sharing content that highlights your products or services and company values on social platforms like LinkedIn or Instagram.

These forms of media strategy are all connected. With a strong owned media strategy as a base, rented media opportunities can often be more cost-effective. For instance, when a social media page consistently publishes high-quality content, it ranks well organically and this factors into the bidding costs for paid media activities. The better your page ranks, the cheaper your bids for ads. Additionally, the more valuable content you publish, the stronger the relationship with your audience will be.

Once a brand has a strong owned and rented strategy it becomes easier to engage 3rd party media publications for earned media opportunities. Ideally, your brand becomes so synonymous with the topics related to your industry that relevant media partners approach you for PR opportunities as they seek out experts in the field.

An Owned Media Strategy

It is imperative for effective marketing strategies to differentiate between owned, rented and earned media. It is also vital to understand the differences between these types of media strategies and how they can be used by the brand to reach the desired marketing objectives. 

Here are 5 important aspects to note when building an owned media strategy:

• Control and Ownership: Owned media provides the highest level of control since the brand has full ownership over its digital assets and platforms. By investing in owned media, a brand can establish a strong online presence and engage directly with its audience.
• Reach and Audience: Each type of media has its audience and reach. Owned media helps reach existing customers and those who actively follow the brand. It provides the ability to have a direct channel of communication with prospective clients.
• Long-term Sustainability: Owned media provides a long-term and sustainable foundation for a brand’s digital presence. Each digital touchpoint a brand has (Website, Meta, LinkedIn, etc.) improves its legitimacy and brand recall in the minds of prospects.
• Crisis Management: Brands with strong owned media platforms can better control their messaging and respond to negative events more effectively. Having multiple points of contact offers multiple opportunities to engage an audience, particularly in times of crisis.
• Data and Insights: Owned media platforms typically give marketers access to valuable data and insights about an audience’s preferences, behaviours, and interests. This information can help marketers adapt future marketing strategies and content creation to improve results. A test-and-learn approach is key to effectively gaining insights through data.

What kinds of owned media are available for brands?

• Website
• Blogs
• Content on social media pages
• Email lists
• Mobile applications
• E-books
• Infographics
• Podcasts
• Webinars

By implementing a well-thought-out owned media strategy, brands can build a loyal audience, establish their expertise in the industry and strengthen their online presence while maintaining control over their digital assets. 

If you are looking for a team of experts to help you formulate and implement an owned media strategy, get in touch with us today.

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