The three types of media are paid, earned, and owned.
Paid media is more of a traditional form of advertising. It includes facets such as print, television, radio, and direct mail. In paid media the brand pays to leverage a channel. For the average consumer it has become more of an eyesore, and as of late, has declining response rates.
Owned media is more of a Facebook fan page, blog or corporate website. The benefits of owned media is that it builds a more long-term relationship with potential customers. The only issues with owned media is that there are no guarantees and it takes time to build those loyal consumers.
Earned media has a more “word of mouth” feel. Earned focuses more on Facebook comments, blogs, and twitter mentions and replies. Below is an example that visually diagrams the three different types of media according to Sean Corcoran’s blog on Defining Earned, Owned, and Paid media.
As of late, paid and earned have been meshing into one due to companies merging advertisements into Facebook pages and twitter accounts. Inevitably, due to this merge, paid media has lost significance in the overall marketing strategy of a company.
Although effective, paid media has become more of a numbing nuisance than something that actually has an impact in the marketing world. People are surrounded by constant paid media that it does not nearly have as much of an impact as marketers once thought. This is leading to a desperate group of marketers who are doing anything they can to engage their audience. It is time to step out of the box and engage potential consumers in a way that is more enticing than this original form of marketing.