POEM Digital Marketing Strategy

Published 27-09-20215 min read0 comments
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In the Internet age, paid media is no longer the only or best option for small company owners. Profitable businesses, on the other hand, employ POEM: Paid, Owned, and Earned Media marketing strategies to acquire and keep consumers. This is referred to as converged media by some marketing professionals.

Knowing more about POEM can enable you to develop more effective marketing tactics. POEM is an acronym that stands for Paid, Owned, and Earned Media, and it serves as a foundation for your digital marketing efforts.

However, in order to use POEM in your campaign, you must first grasp the purpose and meaning of each marketing channel. Paid, Owned, and Earned Media is a useful framework for organising your digital marketing approach. The details of each factor are explained below

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Paid media comprises paid ads in digital marketing channels such as search engines, websites, Facebook, LinkedIn, and Twitter. They include campaigns executed on various platforms such as Google AdWords and Facebook, LinkedIn, and Twitter Campaign Manager. Campaigns performed through ad networks or Demand Side Platforms are also included (DSPs).

Owned media is similar to a corporate asset in that the corporation owns this media. It contains the official website, microsite, and social media pages such as the company's Facebook page, LinkedIn page, YouTube channel, and Twitter account. It also includes mobile applications or blogs, as well as the company's own material such as videos, pictures, infographics, and articles.

Earned media is unpaid and organic. It includes publicity produced by referrals and word of mouth. Likes, shares, comments, responses, retweets, favourites, and other forms of social media activity are also included. Earned media is created by consumers, making it more reputable and capable of providing marketers with exponential reach. Earned media accrues only when people enjoy and interact with the material

One of the greatest strategies in digital marketing is the mix of owned, earned, and paid media. There should be a balance across all media, and it should not be skewed in favour of one. That is, as a brand, you should not focus solely on one medium while ignoring others. For example, relying heavily on bought advertisements while ignoring earned media is not a viable approach. The emphasis is on financial allocation. A basic rule of thumb is to split the money evenly between paid and owned/earned media.

This is a great practise, which implies you should spend 50% of your digital marketing budget on creating content for your digital assets and gaining interaction, and the other 50% on running sponsored advertisements. Although owned and earned media are organic and hence more reputable and deliver higher quality traffic, they take a longer time to provide results. As a result, owned and earned media should be included in your long-term plan.

The paid media, on the other hand, will improve your reach and impressions in the short term, but after you stop running paid advertisements, you may not see the same level of engagement or traction. As a result, it is essential to create a balance between long-term and short-term media. Furthermore, although marketers have no control over whether or not fans connect with material organically, sponsored advertising assures a specific level of reach and impressions. In general, marketers in India prefer to rely more on paid media and less on investing in generating excellent content, with paid media budgets occasionally exceeding 75%.

The budget distribution is also affected by the stage of the brand's lifetime. If the brand is at the introduction stage, it needs more reach and impressions, and it must do it quickly since the brand cannot wait for long to establish awareness. As a result, more cash may be dedicated to paid media during the introduction period. However, if the company is already well-known and, in the maturity, or development stage, it will have a continuous stream of people interacting and purchasing, and so will not need to rely on paid advertisements as much.

As a result, more cash may be given to owned/earned media in order to increase engagement and loyalty. The confluence of the three mediums is another intriguing feature. Can you classify any platform as a paid, owned, or earned media platform? It's all of them! The material you create on any social media is your owned media; it is earned when it receives likes and shares, and it is compensated when it is sponsored.

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