As the world becomes more digitally connected, marketing has evolved to keep up with these changes. One such evolution in marketing is the rise of owned media. Owned media refers to any online asset that is owned and controlled by a company, such as a website, social media channels, or a company blog. In this article, we will explore what owned media is, its benefits, and how to create a successful owned media strategy.
1. What is owned media?
Owned media is any online asset that is owned and controlled by a company. This includes a company’s website, social media channels, blog, and email marketing. Unlike earned media and paid media, owned media is not dependent on third-party platforms or advertising spend. Owned media is a vital part of a modern marketing strategy, as it allows companies to build a direct relationship with their audience.
2. Types of owned media
Website
A website is a company’s digital storefront and is often the first interaction a customer has with a brand. A well-designed and functional website can help build trust and credibility with customers, provide valuable information about products and services, and drive conversions.
Social media channels
Social media channels, such as Facebook, Twitter, Instagram, and LinkedIn, are powerful tools for engaging with customers and building a community around a brand. Social media allows companies to share content, respond to customer inquiries, and provide customer service.
Blog
A company blog is an excellent way to share industry news, thought leadership content, and company updates. Blogs can also help with search engine optimization (SEO) and drive traffic to a company’s website.
Email marketing
Email marketing is a cost-effective way to communicate with customers directly. Email campaigns can be used to promote products and services, share company news, and provide exclusive content to subscribers.
3. Benefits of owned media
Cost-effective
Owned media is a cost-effective way to reach customers, as there are no advertising costs associated with it. A well-executed owned media strategy can lead to increased brand awareness, website traffic, and conversions.
Increased brand control
With owned media, companies have full control over the messaging, branding, and design of their assets. This allows for a consistent brand image across all owned media channels.
Builds trust and credibility
Owned media allows companies to share valuable content with their audience, which can help build trust and credibility. By providing helpful and informative content, companies can position themselves as industry experts and thought leaders.
Provides valuable data insights
Owned media allows companies to track and measure the success of their marketing efforts. Metrics such as website traffic, social media engagement, and email open rates can provide valuable insights into what is working and what needs improvement.
4. How to create a successful owned media strategy
Define your target audience
To create an effective owned media strategy, it’s essential to define your target audience. This includes understanding their demographics, interests, and pain points. By understanding your audience, you can create content and messaging that resonates with them and helps solve their problems.
Set SMART goals
To ensure the success of your owned media strategy, it’s important to set specific, measurable, attainable, relevant, and time-bound (SMART) goals. For example, a SMART goal for a company blog could be to increase website traffic by 20% within the next six months by publishing two high-quality blog posts per week.
Create a content plan
Once you have defined your target audience and set SMART goals, the next step is to create a content plan. This includes identifying topics that are relevant to your audience, creating a content calendar, and outlining the type of content you will publish on each owned media channel.
Promote your owned media assets
Creating high-quality content is only half the battle. To ensure your owned media assets are reaching your target audience, you need to promote them. This can include tactics such as social media promotion, email marketing, and search engine optimization (SEO).
Monitor and measure your success
To continually improve your owned media strategy, it’s important to monitor and measure its success. This includes tracking metrics such as website traffic, social media engagement, and email open rates. By analyzing this data, you can identify what’s working and what needs improvement.
5. Challenges of owned media
While owned media has many benefits, there are also some challenges that companies need to be aware of. One challenge is creating high-quality content consistently across all owned media channels. Another challenge is the need to continually evolve and adapt your owned media strategy as the digital landscape changes.
6. Conclusion
Owned media is a powerful tool for companies looking to build a direct relationship with their audience. By creating high-quality assets such as a website, social media channels, blog, and email campaigns, companies can increase brand awareness, build trust and credibility, and provide valuable insights into their marketing efforts. To ensure the success of your owned media strategy, it’s essential to define your target audience, set SMART goals, create a content plan, promote your owned media assets, and monitor and measure your success.
7. FAQs
- What is owned media?
- Owned media refers to any online asset that is owned and controlled by a company, such as a website, social media channels, or a company blog.
- What are the benefits of owned media?
- The benefits of owned media include cost-effectiveness, increased brand control, building trust and credibility, and providing valuable data insights.
- How do I create a successful owned media strategy?
- To create a successful owned media strategy, you need to define your target audience, set SMART goals, create a content plan, promote your owned media assets, and monitor and measure your success.
- What are some challenges of owned media?
- Some challenges of owned media include creating high-quality content consistently and continually evolving and adapting your owned media strategy.
- Why is owned media important?
- Owned media is important because it allows companies to build a direct relationship with their audience, provides valuable insights into their marketing efforts, and is a cost-effective way to reach customers.