Unlocking New Revenue Streams: The Power of Paid, Owned, and Earned Media for Small Businesses
Small business owners often struggle to decide how to spend their marketing resources effectively. They face ongoing challenges and opportunities to grow their reach and revenue in the rapidly changing online market and how to adapt to customer purchasing trends
With e-commerce growth and changing customer habits, investing in the right channels is crucial for long-term success. A strategic mix of Paid, Owned, and Earned media can drive sustainable growth. This overview will explore these media types, their business impact, and how they can enhance your marketing strategy, helping you make informed decisions about maximising ROI and managing expectations when results aren't met in a short period.
Paid Media: Fast-Tracking Your Reach
Paid media encompasses any external promotion your business invests in—think of it as an accelerated way to reach new audiences. With consumer habits shifting online, particularly mobile commerce up by 68% in the last two years, paid ads on platforms like Google, Facebook, and Instagram can bring new customers directly to your e-commerce site.
Paid media has a clear advantage: it allows for precision targeting, enabling you to reach specific demographics or locations. Plus, it’s measurable—letting you track performance and adjust spending to get the best possible results. However, while the returns can be significant, it’s essential to consider paid media as a longer-term investment rather than a quick win. Many small businesses see the most robust ROI within two years of consistent advertising.
Examples of Paid Media:
Google Ads
Social Media Ads (Facebook, Instagram, LinkedIn)
Sponsored Content
Owned Media: Building Your Brand’s Online Home Base
Owned media includes all the channels your business directly controls. These platforms, such as your website, blog, and organic social media posts, create a consistent brand experience for your customers. They’re also the foundation of a credible digital presence and are integral to customer engagement.
Owning your media is cost-effective and gives you control over your brand messaging. Regularly updated content on these channels can improve your visibility on search engines, with studies showing that companies publishing regular blogs receive 97% more links to their website. While organic reach can be limited without additional promotion, building your owned media is a valuable long-term asset for any business.
Examples of Owned Media:
Website and Blog Content
Email Newsletters
Social Media Profiles (Organic Posts)
Earned Media: Amplifying Your Brand with Trustworthy Endorsements
Earned media, often the hardest to acquire, is generated when others talk about your brand without direct payment. This includes customer reviews, social media shares, or mentions in the press. Earned media is powerful because it brings third-party validation, which can significantly enhance credibility; for example, 92% of customers trust earned media, such as reviews and recommendations, more than any other form of advertising.
Though earned media can take time to cultivate, the impact is undeniable. Encouraging satisfied customers to leave reviews, engage with influencers, or contribute testimonials on your website can amplify your reach and bring more traffic to your e-commerce store.
Examples of Earned Media:
Customer Reviews and Testimonials
Social Media Shares
Mentions in Blogs or News Outlets
Take Action Today
Investing in Paid, Owned, and Earned media is key to securing your business’s future in a digital world. Start by reviewing your current media channels, look for growth opportunities, and see how each media type can help you achieve your goals. By leveraging these three media types, small business owners can expand their reach, influence, and income. Embrace change, invest wisely now, and position your business for long-term success.
