POE media, or paid, owned and earned media are marketing and advertising terms very familiar to people in the industry. It’s the traditional framework that has been in advertising for many years. But with the entrance of Social Media, the concept for this has undergone slight changes. Learning and understanding how one works with the other will help maximise the platform you use for your business to enhance your online presence.
It’s one of the oldest forms of advertising, where the business pays for a spot for promotion and set aside a budget, as part of the investment. In social media this comprises paying for searches, image advertisements, sponsored posts, or syndicated content, among others.
- Advantages: Paid media advertising usually works best for brands or businesses that want to improve on brand awareness or gain new followers and customers. It brings huge and immediate results.
- Disadvantages: Cost for advertising spots are expensive, and consumers may sometimes become indifferent to paid advertising, given that they see this everyday.
Owned media is marketing or advertising that the brand has complete control over. Some of the examples include your actual website, blog, forum and newsletter, mobile apps, retail store and the actual product. This also covers the content you put on your Youtube channel or Facebook page.
- Advantages: Owned media is effective in establishing and retaining existing clients, followers and the community you run in social media. It works for building your identity, presence and influence over your target market. Consumers will be able to know what your brand is about because of the content you put out.
- Disadvantages: In concept, owned media is free, particularly because you can use various social media platforms to enhance your marketing strategies. However, much of the effort is in planning, creating and building content to get your business across. You need to make time for this and come up with a content plan.
The result of creating good and effective marketing strategies, both paid and owned, is what comprises earned media. These are your viral campaigns, the shares, likes, mentions, reposts and retweets your social media pages receive, or a great online review or recommendation from a consumer.
- Advantages: Earned media increases awareness for your brand and seals your business’ reputation, credibility and influence. In many cases, this translates to higher sales conversion than paid or owned media.
- Disadvantages: While a business could greatly benefit from word-of-mouth promotions, it cuts both ways. Any bad feedback or review about your product and service could also spread like wildfire online.
Converging the three — paid, owned and earned media —- creates a consistent voice, look and feel for your brand that translates to amazing results for your business.
The Interactive Advertising Bureau Australia is the body responsible for setting industry standards regarding POE advertising and they’ve released a guideline called Social Advertising Best Practice Guideline which you should review for further information.