Owned, Bought and Earned (redux)

Seems like Owned, Bought and Earned is getting some press.

See Mark Cridge’s NMA piece here and the good follow-on discussion here.

Also, people got very excited on twitter by the article in which Fred Wilson pointed out that Earned Media isn’t free. The title of that article was a little misleading, as his main point was much more interesting: Brands earn media primarily by having a great product experience, and by doing fantastic customer service. This echoes my point about pro-active customer service being the key to success in this field: making customers happy means solving their problems but also listening and being ahead of the game and delighting them in ways they didn’t expect.

Recently we have had a go at re-drawing our Media Trinityto reflect some discussions we were having about this. We were discussing how the original Venn diagram seems to imply that earning media is somehow a distict set of activities. The redrawn diagram looks more like this:

 

 

This is good because it shows that the more interesting you make your content in Bought and Owned media, the more your ideas will spread via Earned Media.

It is also a reminder you that you lose control in this process: when you seed content, you also cede some control to your customers.

We need to stop thinking of Earned Media and WOM as a distinct activity. Now that every media is essentially now social media, we should remember that everything we do has the potential to earn media.

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18 thoughts on “Owned, Bought and Earned (redux)

  1. [...] UPDATED POST on this topic: http://danielgoodall.com/2009/05/20/owned-bought-and-earned-redux/%5D Possibly related posts: (automatically generated)About Iris__________Gail Walker.WeMedia, citizen [...]

  2. Jauho says:

    Good stuff Dan!

  3. artojoensuu says:

    Good post Dan man. Everything we do has the potential to drive earned media, but it doesn’t mean it’s necessarily “free” media. It’s a paradigm shift in the way we should see working & non-working. Optimizing own and bought to drive earned media involves time and can’t solely be replaced with additional media spend. Wrote a post about that a few weeks ago.

    http://artojoensuu.wordpress.com/2009/02/04/working-the-non-working/

  4. Asi says:

    here here

    it’s about creating social objects and social ideas that people are part of so the earn and bought doesn’t apply strictly to online.

    but as you said it first and foremost about your products and services – these are the main reasons people will talk about you. all the rest is campaigning whereas brilliant product and services get talked about for their intrinsic value to people

    A

  5. [...] large part of my time at work goes into defining the ultimate mix of activities/investments behind own, bought and earned media (from a digital perspective). From a search perspective, own/bought/earned media can be defined as [...]

  6. [...] af Sean Corcoran og Daniel Goodall. Mortengade.dk skriver om internettet, politik, kommunikation, fodbold og alt der imellem. Vil du [...]

  7. Michael Lis says:

    Dan –
    Great post on Bought, Owned and Earned media. I believe that we are beginning the paradigm shift to a greater focus on Earned media for two reasons.

    1 – the recession: with budgets tight and employees few we are seeing companies find a greater value in earning customers through social media and viral means.

    2 – true transparency: in an age when everything said is public information companies are understanding that the only way to turn fans into customers is to be as transparent as possible.

    I also like the chart in the post. One fact that CMOs need to realize is that Earned media has the greatest reach when it comes to any type of marketing or branding channel. It is also the cheapest of all three types of media. For the past five or so years Earned media was the hardest to establish without having money spent on the other two medias. Now with social media we are seeing that reach attained easier than ever – even without the build on of the other two medias.

    Cheers
    Michael J Lis

  8. [...] certainly earned media, generating a lot of tweets and even more Facebook links. And it did something that is quite hard [...]

  9. [...] for the different media “types” that brands operate in as well as deal with. This terminology originated from within Nokia and quickly started to pick up pace across the industry. It did a great job in illustrating the [...]

  10. [...] semantics around own, bought and earned media definition and use is a topic that surfaces in discussions more and more often nowadays. An article on the later [...]

  11. [...] cost of marketing can also be reduced using social media, as you can earn media. A Facebook message that reaches a million people can be a more cost-effective way to get a message [...]

  12. [...] 一個成功的App,除了在App旳創意及App操作的流暢外,最大要的工作就是行銷;行銷mobile App有許多的媒體工具,大致上可以分成三個部分: [...]

  13. [...] been a few years since I posted the original Own, Bought and Earned media model and the slightly updated version a little while [...]

  14. [...] a long time, and it has significantly evolved from its earlier incarnations (for reference see 1, 2, 3 & 4). While the thinking behind the models has been very useful to me when planning and [...]

  15. nickkellet says:

    So glad I found this.

    I was exploring the different diagrams people had made for paid/earned owned and I found one in here (in these slide), which I think is based on yours – just a transform.

    I was making my own variation and I wanted to get the right souce

    http://www.slideshare.net/au1153/the-new-rules-for-modern-communications-owned-media-to-agile-engagement-at-prsa-2012#btnNext

  16. [...] really liked  the idea of slide 34 . I believe Michael adapted/inverted the idea from Daniel Goodall. I think this is a valuable tweak to the model, as the goal for such a chart should always be to [...]

  17. dagood says:

    Hi Nick. Sorry for the slow reply – I haven’t been checking in to my blog so much recently!
    Feel free to build on the diagram I drew. I agree with what you said in your blog post – that it’s usually good to end up in the top right – although I would say that was sort of the point I was making, that in order to truly earn media, you often have to give up some control over your messages etc.
    I’ll read you blog post in more detail when I have time, as it is quite long!

  18. […] solution? Actively distribute your content. Creative strategist Daniel Goodall has written about the relationship between owned, bought and earned reach. Don’t assume that, just because […]

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