The Marketing Trifecta was an interesting topic we discussed during the lecture and how businesses can use it to increase their online presence. There are three main categories to the marketing trifecta: Earned, Owned, and Paid media. In this blog, I am going to discuss the difference between the three as well as how they work and help businesses.
Earned Media
Earned media can be things such as word-of-mouth, mentions on social media, shared posts, comments, anything that a third party, such as customers, followers, other organizations, etc. As long as a company’s content or brand is being shared around, outside of the company’s control, is earned media. This is free media that companies can take advantage of when trying to build a social media presence.
Owned Media
Owned media is all types of media that you can control. This includes websites, social media pages, mobile apps, etc. Companies that take advantage of having a social media presence and keep content coming out for their followings, can manage and control. By having owned media, companies can also help build their earned media, having more content and a brand presence will allow for their brand to be spread throughout the population.
Paid Media
Paid media includes all that companies pay for when it comes to promoting content. Essentially this is any advertising a company wants, TV commercials, banners, radio ads, printed ads, SEM paid search, etc. A lot of companies already invest in paid media to gain a larger audience. Especially paying for SEM for when there are people online can really help drive traffic to a website.
