Marketing > Marketing Glossary. Definition of Marketing Related Terms > Owned Marketing Definition
Owned Marketing Definition
Owned marketing refers to promotional strategies and campaigns managed directly by a brand or business on platforms and channels they control. As content marketing continues to evolve in the digital age, a shift towards owned platforms offers businesses unparalleled autonomy, brand consistency, and cost savings. This form of marketing has proven to drive significant engagement, conversion rates, and customer loyalty.
Definition and Concept
Owned marketing encompasses all marketing efforts executed on digital platforms or channels that are directly controlled by a company. This includes the company's website, email newsletters, mobile apps, and social media profiles. Unlike paid marketing (where businesses pay for space or prominence) or earned marketing (where visibility is achieved through word of mouth or media coverage), owned marketing grants businesses full control over their message, design, and user experience.
Positive Impact on Businesses:
Cost-Effective: Owned marketing can lead to substantial savings in the long run as businesses don't have to constantly pay for ad space or sponsored content.
Consistency: Brands can ensure a consistent message and user experience across all their owned platforms.
Direct Engagement: With direct access to their audience, businesses can build a loyal customer base, gather feedback, and promptly address concerns.
Higher Conversion Rates: A HubSpot report indicated that companies that prioritize content marketing on owned channels observe an average increase of 6% in conversion rates.
Relevant Professions and Professionals:
Content Strategists: Plan and oversee the creation of relevant, high-quality content.
Web Developers: Ensure optimal website performance and user experience.
Social Media Managers: Manage and optimize branded social media profiles.
Email Marketing Specialists: Design and implement effective email campaigns.
Process and Application:
Content Creation: Produce high-quality, relevant content tailored to your target audience.
Platform Optimization: Ensure that owned platforms like websites or apps are user-friendly and optimized for search engines.
Engagement Strategies: Implement tactics like newsletters, polls, or loyalty programs to foster direct engagement.
Data Analysis: Monitor metrics like site traffic, engagement rates, and conversion to refine marketing strategies.
Expert Advice:
Do’s: Keep content updated, ensure mobile optimization, regularly engage with your audience, and utilize analytics tools.
Don’ts: Overwhelm users with excessive emails or notifications, ignore user feedback, or become complacent with static content.
Risks and Mitigation: A major risk is neglecting platform updates, which can lead to reduced visibility or functionality. Regularly audit and update your platforms to mitigate this.
Real World Examples and Success Stories:
(Note: Specific real-world examples, success stories, case studies, and testimonials would be provided here if they were true and published. Due to the constraints, this section is generic.)
Rationale and Conviction:
Owned marketing is no longer a luxury but a necessity in today's digital landscape. By taking control of their platforms and channels, businesses can craft a consistent, authentic, and engaging brand narrative. This not only bolsters brand image but also translates to tangible benefits like increased conversion rates, customer loyalty, and significant cost savings. In an era where consumers value authenticity and direct engagement, owned marketing emerges as a powerful tool to build lasting, valuable relationships.
Examples of Owned Marketing:
1. Company Website:
- A well-designed and user-friendly website that serves as a central hub for showcasing products or services, providing information, and engaging with visitors.
- On the website, businesses can create and publish various types of content, such as blog posts, articles, case studies, whitepapers, or product descriptions.
2. Blog:
- Maintaining a blog allows businesses to regularly publish informative and engaging content relevant to their industry, target audience, and products or services.
- Blog posts can establish thought leadership, address customer pain points, provide insights, and offer valuable information to build trust and credibility.
3. Social Media Profiles:
- Creating and managing social media profiles on platforms such as Facebook, Instagram, Twitter, LinkedIn, or YouTube.
- These profiles allow businesses to share content, engage with followers, and build an online community around their brand.
4. Email Marketing:
- Utilizing email newsletters, campaigns, or automated sequences to communicate directly with subscribers who have opted in to receive updates, promotions, or valuable content.
- Email marketing helps build relationships, nurture leads, and drive conversions.
5. Mobile Apps:
- Developing a branded mobile application that offers unique functionalities, enhances customer experience, and provides value to users.
- Mobile apps can serve as a direct communication channel, loyalty program platform, or facilitate transactions.
6. Video Content:
- Creating and sharing branded video content, such as product demonstrations, tutorials, testimonials, or behind-the-scenes footage.
- Video content can be hosted on the company's website, shared on social media, or distributed through video platforms like YouTube or Vimeo.
7. Online Communities:
- Building and managing online communities, such as forums, discussion boards, or social media groups, where customers can connect, interact, and engage with the brand and other customers.
Owned marketing provides several benefits, including:
1. Brand Control: Businesses have complete control over the messaging, branding, and content that is shared through owned media channels.
2. Long-term Asset: Owned media channels, such as a website or blog, serve as long-term assets that can continuously attract and engage audiences over time.
3. Relationship Building: Owned marketing enables direct interactions with customers, fostering relationships, and creating a sense of community around the brand.
4. Brand Authority and Thought Leadership: Consistently sharing valuable and informative content through owned media channels can establish the brand as an authority in the industry and build trust among the audience.
5. Cost Efficiency: While there may be initial costs associated with developing and maintaining owned media channels, the ongoing costs can be relatively lower compared to paid advertising.
To maximize the impact of owned marketing, businesses should focus on delivering high-quality, valuable content, optimizing their online presence for search engines, regularly engaging with their audience, and leveraging data and analytics to track performance and make informed marketing decisions.
Marketing > Marketing Glossary. Definition of Marketing Related Terms > Owned Marketing Definition