Client-Owned Media Needs Agency Champions

This shifting landscape of media and expanding media forms means that there are dramatic changes in the way in which consumers perceive and absorb marketing messages. And, the paper argues, marketers need to change their mindset and their toolbox to cope with these changes. It concludes: “The proliferation of media types gives marketers a dramatically richer arsenal to deepen the engagement of consumers with brands cost effectively.”

The article identifies five types of media—the first three are described as paid, earned and owned—and introduces two new types: sold and hijacked. They’re summarized in the table below that appears in the article:

 
We’re proponents and creators of the “Owned Media ” version and also familiar with the “Earned” and “Sold” media models here at Pace. And every marketer is increasingly familiar with the "Hijacked" model, although I’d probably describe this more generically as part of “Social” media. However, the authors seem determined to highlight the negative potential for the occasions when bad things happen to good brands within social media, and this is differentiated from the “Earned” media model that appears to be reserved for when good things happen to brands online. I think it’s possible to “earn” bad reviews and negative publicity, rather than to feel as if public opinion is “hijacking” your brand; but that aside, I believe this article is an excellent summary of the trends and influences that are at work today.

What the article does highlight is the increasing importance of “Owned Media” by clients and organizations. Like the authors of the article, we’ve felt this trend and indeed have undoubtedly fueled it too. I have a fundamental belief that client-owned media channels are going to be more and more important as a brand differentiator; as a forum for discussion and idea exchange; as a reputation management centre; as an R&D and product-development hub; and, most tellingly, as a conduit for sales.

As clients require agency help to form strategies, structures and ROI models for their own media hubs, they are turning to the companies that execute these content programs for help. That is the great opportunity for companies like Pace, and it is increasingly the role we are playing for most, if not all, of our clients. Acting as a media owner, where you are inviting consumers to come to you (as opposed to sending sales messages out to them), is a change of mindset as well as a different executional approach for most marketing organizations. It’s an approach that requires a sure touch and the support of an agency that understands the challenge of creating “Owned Media.”

It’s exciting to see these ideas reaching the mainstream of current marketing thought and discussion.

Posted By: Craig Waller