Business needs clients to stay alive. The more clients there are, the better it is. To gain more clients for business and growing it in today’s world, the media plays a vital role. Understanding the types of media and how a business can use it will generate the inflow of clients. Having said that, further classifying the media into 4 types to understand more detail would be beneficial, which are owned, earned, paid, and shared media.
Owned media can be described as the media that is owned by an individual or a business. It can be combinations of real assets and digital assets, for example, billboards and websites, respectively. To understand more, the example of owned media is the company’s retail stores, brochures, YouTube channel, eBooks, Blogs and Vlogs, and social media groups and pages.
Earned media can be defined as when you’ve gained exposure through media relations, and your news appears in print, broadcast, and online channels. Earned media is also referred to as free media. Some of the examples of these media are news articles, interviews (print and broadcast), word of mouth, repost, and mentions.
Paid media involves payment for advertising space, airtime, and sponsored posts. It can be a combination of traditional and digital media. Examples of paid media are TV commercials, radio announcements; prints and advertorials; billboards, display ads, paid search, and influencer marketing.
Content posted online and in social media by the users are shared media. It can be shared between different social media platforms and generate word of mouth. Some of the examples are Facebook, Twitter, LinkedIn, Pinterest, YouTube, Instagram, and TikTok.
Using these media and understating them can provide a huge competitive advantage for your company.