At a time when funds are limited, it is important to spend every dollar wisely. The idea is to have the best returns for investment. Digital marketing has provided a solution of sorts by providing marketers a lot of options to share their messages to the global audience.
In this internet age, paid media is no longer the only instrument of choice for small business owners. Profitable companies use the POEM technique to make the most out of all the marketing opportunities. POEM stands for Paid, Earned Paid, Owned, and Earned Media marketing techniques to find and retain customers. Some marketing experts call this converged media.
What does each of these media stand for?
Paid media is traditionally print and banner advertisements. Organizations use the Search Engine Marketing (SEM) tools which are also called Pay per Click (PPC) in the form of Google Adwords or Bing Ads. Identifying new prospects or avenues is effective with this type of marketing. It is cost effective and helps you to achieve scale, allowing you to reach out to a large number of people.
Owned Media includes a company’s website, blog, infographics, social media profiles, email, and Youtube channels. In this you are driving your digital customers online. Even your paid media to be successful should contain links of your owned media. This allows you to have total control overs the content and costs. It is extremely effective for lead nurturing.
Earned media are recommendations by customers about an organization’s products or services. It is extremely influential with the consumers or donors. They are your medium of marketing in this. They share your messages and spread the word about you. With the help of social media, such sharing of messages has a huge impact. You need to be on your toes and keep the people you serve content about your services. Though the flip side is that it is difficult to control and the results are hard to measure at times.
How could all this be consolidated into something effective?
To be able to manage the paid, owned and earned media effectively, you should know when to provide the right content at the right time for your audience. It’s only then could they take an informed decision after consuming all your content. This strategy is highly effective and low cost one. Paid media would ensure that there is an audience for your site. Once there is an audience, they need to be nurtured through your blogs, infographics, e-books, etc. Earned media such as recommendations from friends or peers would then convert people into buyers.
Fundraising for nonprofits is reaching new dimensions with the advent of technology. One needs to stay ahead of the curve and embrace it for a successful journey.