Social By Plan
Somewhere on Madison Avenue there is a large vat of Kool-Aid that a fair portion of the industry has been sipping for the past year. You can recognize those who have imbibed by their hundred-mile vacant stare and endless incantations featuring POE. Not Edgar Allen, but the media variety - specifically paid, owned, and earned. POE and its endless variations have become the topic du jour for countless industry conferences and articles. In fact, I don’t think a day has gone by in the last year without someone mentioning it to me. I swear my six year old whispered “POE” when I put him to bed the other night.
To those who haven’t indulged in the Kool-Aid let me briefly explain. Paid media - the P - is the historical inventory brands have bought such as TV spots, print ads, and online display banners. It’s the stuff we’ve always done, just now more digital and on more devices. Owned media - the O - includes the content and experiences that a brand largely controls, everything from your Web site to your product packaging to your stores. Earned media - you guessed it, the E - is arguably the new kid on the block. We used to call it PR and word-of-mouth, but it now takes shape in a variety of ways, most notably Likes and +’s. Brands can’t control earned media but they can certainly help create, influence, mitigate, harness, and distribute it.
|"Fans are 41% more likely than non-fans to recommend a fanned product."|
Now you may have noticed that the E has received a disproportionate share of the industry chatter. Poor P and O often get left behind, but they are important and do play a critical role; more on that later. The reason earned media gets so much attention these days is primarily down to the 900-million (and growing) gorilla in the room. In a very short time, Facebook has created the ultimate ubiquitous global platform for consumers to share content and opinions on everything from friends to movies to brands. In effect, Facebook has become the ultimate vehicle for word-of-mouth…positive or negative. If you get it right, you can create an army of advocates that will help your brand grow up to 2.5 times more than the category average (Bain, 2010). According to Syncapse, fans are 41% more likely than non-fans to recommend a fanned product to friends. Once these folks become a fan, they spend on average an additional $71.84 more than a non-fan. Author: Norm Johnston. To continue reading, download Social By Plan (pdf, 1.3 mb)