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Tuesday, March 01, 2011

Whitepaper: Paid, Earned & Owned Media

Attached is an interesting deep dive into the different forms of media. The analysis drills into the expanding media forms that reflect dramatic changes in the way consumers perceive and absorb marketing messages.

Many marketers use this framework to distinguish different ways of interacting with consumers, forms of financing, and measures of performance for each contact. Yet the paid, owned, earned framework increasingly looks too limited. How, for example, should a marketing strategist for a company react to requests from other companies to purchase advertising space on its product sites? How should a company deal with online activists when they take hold of a product or campaign to push a negative emotional response against it?

The changing role of older media and the emergence of newer ones extend the marketer’s role well beyond the allocation of budgets and channels. Marketers today require a deep understanding of how consumers engage with different types of media at each stage of the journey toward a purchase decision. What’s more, these different kinds of media are related and interact with one another (Exhibit 2), so marketing plans and capabilities must adapt and evolve. Paid, owned, earned, sold, and hijacked media are evolving in four primary ways.

Read the attached to get the details from David Edelman and Brian Salsberg who are both principals at McKinsey.

I hope you find this useful.

McKinsey Beyond Paid Media

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