In a nutshell
You can send your content & stories through different channels: the media that you should pay for getting access to like TV or newspapers (Paid), your media such as your website or your podcast (Owned), incredible third parties talking about you such as bloggers or industry influencers (Shared) and the pass-along sharing and commenting upon your message by the community through social channels (Earned).
In the Marketing Canvas
In the Marketing Canvas, we have identified 6 main categories for building your Marketing Strategy: Customers, Brand, Value Proposition, Journey, Conversation and Metrics. Each of these categories, have 4 dimensions which means that a total of 24 dimensions (6 by 4) are defining your Marketing Strategy.
Media is one of the 4 dimensions of the Conversation category.
How to use it?
If you want to initiate conversation with your prospects, clients, customers, you should trigger these conversations with your contents and stories. Where could you do this? Simple question but there is a business of media advertising representing $629 bilions in 2018. It is massive and if you don’t know anything about this business, just watch Mad Men on Netflix.
In the past, we (and some companies are still doing that) carpet-bombing potential clients or existing customers with advertising (monologue). It is what is usually called Push Communication. Thanks to internet and digital marketing, it is now possible to have more targeted and relevant communication leading to a pull approach.
These days, you can have a simple and close to 0€ budget approach or a very sophisticated and expensive approach.
Let’s start from the simple one using the PESO model to illustrate it .
As a business you own already some media like your web site, an email database of your clients/visitors, a web site, business cards collected during events. This represents your Owned Media. These media don’t cost you additional money if you want to publish content on it. It is a good start for any business especially startups or SME.
You can also used Earned Media. Earned media is what you know as either publicity or media relations. It’s getting your name in print. Having a newspaper or trade publication write about you. Appearing on the noon news to talk about your product. It’s what the PR industry is typically known for, because it’s one of the few tangible things done.
Or Shared Media. Shared media is also known as social media. It’s evolving as well, and continues to build beyond just marketing or customer service teams using it. Organisations have begun to use it as their main source of communications internally and externally.
Finally, you could use Paid media. These media are media that you pay for distributing your content. It could be mass media (or above the line) like TV, billboards, newspapers, … or direct marketing media (like mailing list, ….) (referred as below the line media). Social Media’s could also be paid media (Facebook Ads).
In your Marketing Strategy, you should have a consistent media strategy aligned with your customers, your purpose and the moments of your journey.
Not balancing your effort amongst these 4 medias or not aligning your media strategy with your customers and your goals will not help you with your goals.
Is the current Media strategy helping you achieve your goals?
PESO Marketing Model, https://iterativemarketing.net/peso-model-marketing/