Owned Media Strategy Admin May 15, 2023

Owned Media Strategy

Recently updated on July 31st, 2023 at 11:22 am

In the media world there are a multitude of platforms and publications where brands can publish content to effectively market themselves. 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 can be defined as the digital assets and platforms that a brand has full control over. These assets and platforms include, but are not limited to a business 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 brands full control over marketing efforts, communications and campaigns. This strategy gears brands to be more accommodative of their audiences needs and interests, by tracking their behaviours and sentiments towards the brand on their owned assets.

The Media Family

The best things usually come in threes, and the same is true when it comes to the types of media strategies available to brands. Aside from owned media, there are two other types of media strategies that brands can employ to improve their marketing and PR:

Rented Media

Rented media are the channels or platforms that a brand uses to reach their audience, but they do not have complete ownership or control over them and typically require ongoing payments or fees to use. An example of this is when brands use social media platforms such as Facebook or Instagram (Meta) for advertising or boosting their content. Paying for your ad to be placed in a magazine or on a 3rd party platform counts as rented media. Brands only have access to these options when they have a budget to pay for them.

Earned Media

Earned media is the publicity and exposure gained through word-of-mouth, shares, mentions or media coverage without direct payment or control by the brand. When a brand’s product or service receives positive reviews and recommendations from customers on social media or in online publications, leading to increased brand visibility and credibility, the brand has earned that exposure. Public relations activities often fall into the earned media category. Gaining access to earned media opportunities often requires the successful implementation of owned and rented media strategies. 

Owned, rented/bought and earned media 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 organic 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. 

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, and to understand the differences between these types of media strategies in relation to the individual brand and its 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 own 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 to 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?

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.

1 Comment
  • Reply
    August 25, 2023, 10:30 am

    […] media and Paid advertising (Rented Media) are just two of the three members of the media family, with owned media being the third. Understanding each member’s characteristics as well as […]

Write a comment
Your email address will not be published. Required fields are marked *