Thursday, December 10, 2015

This Is Why Millennials Respond Better To Earned Media Vs Paid Media

It is very well known in the field of marketing that word-of-mouth has always been important and is one of the sources of information on which most consumers rely when it is a question of shopping or to buy a product or service online.

Today, the word-of-mouth marketing is still very present and useful, but it underwent a major upgrade and is now ubiquitous on the Web and social networks in various forms. This type of promotion is called earned media and represents marketing activities that are not paid (paid), created or controlled (owned) by a company, but rather conquered or deserved. Deserved publicity is publicity generated by clients, or sometimes journalists who become important channels by sharing their opinions, either by means of Word-of-mouth, by the mainstream media, or more recently, via social networks and online communities and other sharing platforms (e.g. blogs). There are blogs maintained by pro-amateurs dedicated only to the evaluation and sharing of opinions about services or products, such as hotels, household products, cosmetics, etc. Do not underestimate the influence that these pro-amateurs have on consumers as several potential customers form an opinion and base their purchase decision on ratings and comments that are on the Web.

Between Earned and Paid Media, which is better?

Answer: The comments and opinions shared by users of the Web and social networks consist of a kind of free advertising for businesses. Which company does not like free advertising? Even if this idea is very attractive, the earned media does not without effort and is part of a marketing process which also includes paid and owned media. These two other 'media types' are not negligible since without publicity generated by the company itself, customers who produce assessments or leave comments on the Web would surely never received information about the product or service and thus, earned media would not exist. Hence why a global strategy is required for best results.

This is why you should be hiring millennials.

This is a marketing strategy that is increasingly valued by undertakings, even if it is difficult to manage the information that is shared. Since those who share their views are not paid by a company, shared information can be positive as well as negative. Despite the necessary work, earned media is a significant reason for any company wanting to take advantage of (almost) free advertising, to give great importance to the creation and management of pages on social networks, where much information circulates and where comments from customers are seen by other existing or potential customers.