Paid Media vs Earned Media
"You want people who are loyal to you and love what you do, not just people to buy your products." |
The difference between customers and fans.Converting people into customers has had a moving history throughout the years. As a brief history:
Psychologically, people are able to discern when they are being sold to and when someone is being genuine. The concept of ‘earned media’ is quickly becoming one of the most successful ways to reach Americans, particularly the millennial audience. Nationally recognized Cone Communications found that 89% of Americans are likely to switch brands to one associated with a cause, given comparable price and quality, jumping nearly 35% since 1993. This is proven by the recent success of Chick-fil-A, who has consistently spent significantly less on measured media in the restaurant category while also securing significant market share. New Media is a given in the pursuit of digital customers. In the same study from Cone Communications, 51% of Americans report using social media to engage with companies around social and environmental issues. Once again, this is an avenue for earned media. Earned media looks to make a difference, to bring value to its loyal fans, rather than merely seeking a sales conversion. The brands and companies who will be successful in the future are those who embrace the concept of earned media and seek to add value (even at no immediate financial benefit) to their fans. *Note: If you noticed the transition between customers to fans then you are on the right track. You want people who are loyal to you and love what you do, not just people to buy your products. |