New Altimeter Report Highlights the Convergence of Owned, Earned and Paid Media
Altimeter released a new report released today, The Converged Media Imperative: How Brands Must Combine Paid, Owned and Earned Media. The report further reinforces the importance of a marketing strategy that contains all three media types. As consumer behavior continues to rapidly evolve, so must the strategies in which brands interact and engage with their consumers.
As noted in the report, “Advertising, or ‘paid’ media has traditionally led marketing initiatives, both online and off, but advertising no longer works as effectively as it did unless bolstered by additional marketing channels. Owned and earned media are vital to campaigns, helping to amplify and spread brand messages across a myriad of complex paths that consumers follow across devices, screens and media.”
Some key elements from the report to consider:
All Media are on the Verge of Converging: Marketers must reach their consumers across all media types, today’s consumer is more empowered than ever before.
Sophisticated Brands have Begun to Integrate Media: Consumers rely on their peers and opinions posted online when making purchasing decisions. Savvy marketers know this and adapt their strategies accordingly.
No Single Medium Can Afford to Stand Alone: Effective media now stands in the hands of consumers. “Marketers are increasingly aware of the need to establish greater ubiquity across more channels throughout the social web. Supplementing this is the need to create content in owned channels and to encourage dialogue with, listen to, and amplify consumer conversations and gain traction.”
At Extole, we have always believed in the power of the consumer, which is why our Consumer-to-Consumer (C2C) approach is used by more than 250 brands and agencies. Our platform enables brands to identify and cultivate their customer advocates and foster word of mouth stories about their brand—recommendations, offers and expressions—which can be captured anywhere consumers interact with brands.
In conclusion, brands that do not integrate and align paid, earned and owned media are now at a disadvantage. These media types must no longer be thought of as separate entities, but instead entities that work hand in hand. If done properly, brands will be able to effectively reach, and engage with their consumers. The Altimeter report further validates what we have been saying here at Extole all along – consumers are a brand’s most valuable asset – and one of the most effective ways to reach them is via C2C social marketing programs that leverage all media types.