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Tuesday, 8 November 2011

Paid Owned Earned - a love story based on engagement

Interesting new research from Yahoo! and BBDO illustrates the Paid Owned Earned 'Love Story', explaining that Paid Owned Earned is akin to a flourishing romance!

“What’s Your Story?” asked more than 1,000 consumers and marketing pros how they felt about brands and they way brands interact with them. One of the key findings, was that “almost all consumers -- 95% --crave some sort of engagement with brands.” Advertisers should therefore think of “paid, earned and owned” as steps in a relationship.

The first date 

- “Paid media is the primary source for brand information and creating awareness -- it gets people through that first date.”
- “Seventy-three percent of consumers found information about brands through paid media.”
- “Eighty-two percent of consumers will ignore a brand if it is viewed as being intrusive...They’re saying ‘Don’t shout at me!’”

Thinking about a commitment 

- 'Owned media---your website, your app, your store, etc. -- is more like a third or fourth date.'
- “It’s where marketers have the opportunity to get consumers to take action…It’s important for brands at this stage of the relationship to tell consumers “why they should care about them.” (54% of those surveyed for “What’s Your Story?” said just that.)

Going steady

- "Earned media, in which people willingly share information about your brand through word-of-mouth, texting, social networks and so forth, is like being in a relationship -- going steady, if you will -- with your consumer, where consumers talk about you with their friends."
- “Almost eighty percent of consumers we talked to expect brands to be ‘genuine,’ and nearly as many expect a brand to be ‘responsive and engaging’,”
- “Consumers understand that brands make mistakes, just like people. The key is to address those mistakes.”

A useful graphic is also used to show this phasing and how the relationship grows:

Paid Owned Earned - the role of engagement in relationships
See more information about this Paid Owned Earned research here.

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