Paid, Owned and Earned Media. What are the differences? We’ll talk about that later which will also lead us nicely onto the CIM Level 6 Mastering Digital Channels April 19 Assignment, question 1(c).
But before we do any of that I cant wait to have a chat with Ryan Holtz. Ryan’s digital marketing work has been featured by Twitter, Automotive News, Canadian Auto Dealer Magazine, Huffington Post and several other major publications.
An outspoken and charismatic keynote speaker at various events, schools, conferences and is in high demand so it was humbling when he agreed to come on the podcast and discuss the motoring industry and the importance of a CRM, amongst other things.
– Follow your own path, it will take you where you want to and are supposed to be. More importantly, don’t forget to enjoy the process and the getting there. And of course, this includes your CIM Qualification journey – would love to take it with you.
– CRM (Customer Retention or Relationship Management) is hugely important if you want to stay in touch with your core audience, BUT and this is a massive BUT – The data must be clean and valid – rubbish in – rubbish out, unless you want to target M. Mouse and D. Duck! Think of it as your businesses little black book (for those who don’t know, a little black book used to be the thing ‘metaphorically speaking’ that had all your contacts in – those, personal, intimate contacts *cough* moving on.
– In this fast paced world you need to keep an open mind and always be ready to change on a Dime. Today, we have the opportunity to compete on a level playing field with the giants of our industries and because the small businesses have the flexibility to move fast, this should be taken advantage of wherever possible.
Paid, Earned and Owned Media
This is where I tell you the difference between paid, owned and earned media in a digital landscape. Now this is important for two reasons. 1 – You should know this regardless of where you are at in your career, 2 – It forms the fundamentals for the CIM assignment question we will be discussing after this.
Earned mediais essentially online word of mouth, usually seen in the form of mentions, shares, reposts, reviews, recommendations, likes, retweets or whatever term a platform uses for engagement of any kind.
Owned media is what it says it is, it’s any web property that you are in control of. This can be your own website, a blog or a social media channel.
Paid media is simply what you pay for within the online space. Usually to generate traffic or create further engagement through things like online advertising, paid social (posts and even influencers) and not forgetting PPC (Pay Per Click) and retargeting.
Level 6 Mastering Digital Channels CIM Assignment – April 19 – Question 1 (c)
The final question in task 1 asks you to appraise – which means you need to assess, but also provide a detailed and comprehensive critique around management and automation technologies.
This question is worth a whopping 20 marks so it is worth taking the time to structure your answer in a way that allows you to cover all the main points. My recommendation here is to read the question and the guidance notes carefully, as there are clues as to how you should do this.
Make sure you cover both management and automation technology within the paid, owned and earned channels that are applicable to your chosen organisation. Consider how the technology is managed, applied and remember to include examples from within your industry of how new technologies are helping to solve problems – some of these problems may not have been seen as such until the technology was implemented (this is important and a fundamental part of the question).
There are a whole host of elements you will need to cover in your appraisal but we’ll end with highlighting a few to get you started:
– Cost implications both financially and from a resource perspective
– Long-term time saved
– Competitive advantages given
– The automation of repetitive tasks
Ryan Holtz Podcast: The Ryan Holtz Show: https://itunes.apple.com/ca/podcast/the-ryan-holtz-show/id1167195878?mt=2
Ego’s the Enemy – Ryan Holiday: https://amzn.to/2Poqais