The world of advertising is constantly advancing, which leads to the development of many new concepts. If you are in this field, you know that it is impossible to avoid hearing the terms earned, paid and owned media. They are discussed in several classes, organizations, during job interviews, and most importantly, used in many careers.
One interesting type of media is earned media because it is a fairly new concept that was popularized with the development of social media. So, what is earned media anyway? It is achieved when people distribute content on behalf of other individuals or companies. Earned media is basically the online version of word-of-mouth marketing, as it thrives off of various interactions, such as mentions, shares, reposts, comments, and reviews from any individual or company.
Enough with the boring definitions. Let’s move on to why earned media is so important. I could list many reasons, but this isn’t a novel, so here’s 5 of them!
1. Earned media spreads brand awareness.
If a company launches a new product or service, their earned media can cause even more people to become aware of it through the content that their current customers post. Once one person shares their thoughts online, many others may become intrigued and gain interest in the company.
2. Earned media is credible and helps companies gain trust.
When nobody is being paid to advocate for a company, a major aspect of credibility is established. Customers who are willingly writing reviews, making recommendations, or simply sharing their experiences likely feel passionate about that particular product or company. This passion is easily seen by others who might also begin to trust the company solely based on what people are saying.
3. With that being said, earned media can either make or break a brand.
It is evident that earned media is beneficial to a brand if customers are saying positive things. On the other hand, if customers are dissatisfied with a product or company as a whole, they will not hold back from speaking their mind. If others see these negative comments, the company will likely lose trust, and ultimately, lose potential customers.
4. Earned media can expand a company’s audience.
With the development of Internet, the word-of-mouth method can be taken to a whole new level. The things that people say about a brand have the ability to reach a larger audience because everything can spread much faster and easier online than in person. This helps the product reach outside of the intended target market and ultimately helps the company gain customers.
5. And lastly…earned media is FREE.
Who doesn’t love things that are free? That’s right, nobody! Earned media is a great way to spread brand awareness and promote a brand in an efficient and reliable way, with absolutely no cost.