Earned Media: The Tool More Firms Should Be Thinking About [Daniel Matusov]

In today's oversaturated market, firms must think outside of the box to stand out and cut through the noise for consumers that have a never ending amount of options for entertainment vying for their attention. As discussed in a certain Forbes article (https://www.forbes.com/sites/forbesagencycouncil/2023/09/19/where-does-earned-media-fit-into-your-digital-marketing-strategy/?sh=12549a5f640c), earned media is a valuable tool for the right digital marketing strategy. Earned media refers to publicity gained through promotional efforts, versus specifically through paid advertising (famously, though not a brand - the ALS ice bucket challenge is an example of a massively successful campaign along those lines). While the use of tried and true methods like social media ads, Google Ads, and influencer sponsorships can be effective, no other avenue can generate the level of organic enthusiasm like "earned media."

Earned media brings several advantages compared to paid media. For one, earned media comes across as more authentic and trustworthy to consumers since it was voluntarily given by a third party rather than directly paid for by the brand - this is going to be particularly important for Gen Z going forward as authenticity is a trait they specifically curate for in their daily lives. In addition, earned media reaches audiences that may not follow the brand on its owned channels, leading to greater exposure and the opportunity for unconventional customer acquisition. Securing features in niche publications or general news outlets can also get a brand’s name and message in front of larger, more diverse audiences. This expands reach. Lastly, earned media can drive traffic to a brand's owned channels through link backs. 

However, it is also difficult to truly capture earned media in an authentic way that resonates with audiences, to there is more downside potential as well (in failure of execution, primarily).

Given the upside potential, firms and brands should carefully consider pursuing an earned media strategy. Earned media campaigns should first and foremost focus on developing relationships with journalists and influencers to secure organic coverage. But at the same time, it is important not to disregard traditional strategies as a hedge.