I thought I would just do a quick post on something that is pretty much owning my working life at the moment. Bought, Owned and Earned Media.
Simply put these are the three ways that content is getting passed on for brands.
Bought Media – Buying adspace off publishers with audiences! E.g Banners
Earned Media – Media that your audience pass on for you, think passing on a youtube clip/article to a friend. E.g Viral Video
Owned Media – Are a brands direct channels with their consumers, this could be their email database, Facebook Page or employees
2010 has really brought Owned and Earned Media to the fore.
The biggest effect for Owned Media has been the introduction of Facebook Branded Pages, brands are now getting scale and audience which are rivaling their bought media channels. Other smaller brands that didn’t even have email databases are going straight for these channels.
A lot of people think that earned media is something that brands cannot control. It is up to the quality of the content. Wrong. Getting to the front page of Digg, the most viewed clip on Youtube or on a highly trafficked blog is not a fluke for a number of agencies but now a product that they are selling. Understanding and having the relationships to hit these earned media sweet spots is becoming a valuable commodity in this market.
Here is a great post on Mashable on Social Objects and Earned/Bought and Owned Media