3 Types of Digital Media and How They Can Make A Business Grow
The digital age has allowed for new marketing channels to spread brand awareness and retain customers. Paid advertising is no longer the only option for getting the word out about your business. Owned and earned media now allow for the control of brand messaging and far-reaching word of mouth. I’ve researched all of these digital media types and will share my findings with you in this article.
The three types of digital media are:
- Paid Media
- Owned Media
- Earned Media
Digital media can grow a business through a brand introduction, brand reputation, driving traffic, and higher customer conversion rates.
All three digital media have a unique and vital role in attracting and retaining customers to grow your business. Keep reading to find out more about each of the types of digital media, their purposes, and how they grow businesses everywhere.
What Are the Three Types of Digital Media?
The three types of digital media are paid media, owned media, and earned media. Although different players may control certain aspects of all three strategies, they all work together to attract and retain customers.
Paid media is used for both initial and continuous marketing campaigns. Paid media includes paid advertisements on social media platforms and websites.
Although paid media means you will have to invest some funds, it is essential to reach the customers you may not have known existed or the customers you would not have reached through your other digital media.
Purpose of Paid Media
The main objective of using paid media is to bring awareness to your brand, product, or service to build your customer base. Paid media allows you to reach a wider audience faster than if you were using owned or earned media.
Bring Your Brand to Life
Think of paid media as the first step in bringing awareness to your brand. Using this media strategy gives you a wider reach and allows you to get the impulse customers who may not have specifically sought your product or service.
Paid Media and Business Growth
Expanding your visibility and reach means that you have the potential to drive more traffic to your website or business. With this increased traffic, you also can grow your customer rate by converting these prospects to buying customers.
Paid media is associated with high customer conversion rates when compared to earned and owned media. Although paid media can lead to a high conversion rate, it only runs for a certain period.
Once paid media advertisements have ended, you have to rely on other media such as owned media and earned media to engage your audience long-term. Unlike paid advertising, reviews, and blog posts, such as those used in other media, will always be available for your target audience.
Owned media is the media you or your organization owns and controls. Some owned media include your organization’s website, blog posts, and email marketing.
Purpose of Owned Media
Owned media is used to keep your current subscribers or customers interested in your brand and alert them to new services or products. Owned media is also a means by which you can educate your audience and is a great way to control the messaging associated with your brand.
Providing useful information through your owned media is one way to engage your current customers and reach other potential clients. Everyday millions of people search the internet to gather information on products, services, or searches to find how-to guides.
The more useful your information, the more traffic you can generate for your business. With this increased traffic, you will have the potential to convert your audience to paying customers.
Sell Without Selling
Owned media provides a medium by which you can help your customers with useful information and persuade them to purchase your product or services without sounding like a salesperson. No offense to the salespeople as they do drive business for many organizations. The sales pitch does not work for all potential customers.
Customers do not want to feel pressured into deciding to purchase a product or service. It is vital to ensure that customers choose based on the benefits they foresee using your product or service. Buy-in from your customers will be beneficial for your earned media strategy.
Schedule Information Flow
Many advertisements bombard customers on television, on social media, and websites. Customers tend to become overwhelmed with all the sales tactics and advertisements and trust sources geared towards providing helpful information.
When using owned media, while the information you provide should be useful, you should also aim to keep a consistent flow of information to your audience. If customers are interested in the information you share, they will always want to have a steady stream of this information.
Consistency is vital with owned media, as being consistent will keep your audience engaged. If information is not available consistently, you run the risk of losing your audience.
Owned Media and Business Growth
Owned media allows you to increase customer traffic, and it also allows you to retain customers to increase the possibility of customers purchasing your products or services. Owned media will enable you to control your brand image and be seen as an expert in your field. Being an expert and providing useful information is ideal for customer retention.
Do you know what is better than you showing that you are an expert and that your brand is worthwhile? Having other people endorse your brand. Earned media is the next step in your digital marketing arsenal, and it enables others to share the benefits of your brand.
Earned media includes customer reviews and customer word of mouth. Search engine optimization has a significant role in earned media.
Search engine optimization allows your business information to populate in internet searches when someone searched for specific details. If you cannot be found, there is a lower chance of getting the attention and reviews you need to bring awareness to your brand and build trust.
Purpose of Earned Media
The word of mouth scenario is essential to build trust and to drive your business growth. Watching an advertisement brings awareness to a product or service; however, hearing a friend or a trusted person review a product or services will make a potential customer more in tune with your brand.
Be the Talk of the Town
People tend to listen to those they can trust and may be more likely to decide to purchase based on trusted information, guidance, or reviews. All reviews are not equal. If someone is paid for a review, your audience may be skeptical.
If a regular customer freely gives a review, the review may seem more credible, and potential customers will trust that third party’s information.
Earned Media and Business Growth
Earned media allows for your business to be more visible to potential customers. Having the voice of another customer endorse your brand is robust and encourages other potential customers to convert. Your company has the potential to grow with the increase in customer traffic due to other customers advertising your brand.
Your business may also experience increased traffic from being visible on internet searches. Although the internet search is vital, positive reviews and word of mouth from existing or former customers can seal the deal for new customers who may be doubtful.
The three-digital media, paid, owned, and earned, have unique features that bring brand awareness, reach potential customers, and retain customers to grow and sustain a business.
Although paid media allows for high conversion rates and the expansion of brand awareness, earned and owned media builds trust and allows for customer retention. These three media can grow your business through increased traffic, customer conversion, and customer retention when used together.