Owned, Bought and Earned (redux)
May 20, 2009
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.
May 20, 2009 at 7:24 am
[...] UPDATED POST on this topic: http://danielgoodall.com/2009/05/20/owned-bought-and-earned-redux/ Possibly related posts: (automatically generated)About Iris__________Gail Walker.WeMedia, citizen [...]
May 20, 2009 at 8:08 am
Good stuff Dan!
May 20, 2009 at 5:24 pm
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/
May 20, 2009 at 7:29 pm
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
September 15, 2009 at 7:24 pm
[...] 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 [...]