When it comes to organising your marketing, the PESO model always comes in handy. It is one of the best models through which you can organise your marketing strategies, ideas, and efforts and effectively cover all aspects of marketing. It is one of the most used models by the marketing agencies and any organisation can implement it, regardless of their size, location, industry or specialty. It was introduced by the world of public relations but works as an indispensable tool for all enterprises in their marketing departments.
What Really Is The PESO Model?
Breaking it down, everyone knows PESO is an acronym for paid, earned, shared and owned media marketing. The purpose of this model is to serve all the channels for marketing, which a brand has at its disposal into four separate groups. By doing this, it allows marketing professionals to look at their strategies and efforts within the realms of these lenses, and judge the success of each channel separately. It also enables the business to look for more opportunities within each category and also helps them discover ways to integrate them together to create synergies. The PESO model is also valuable when introducing new strategies to existing programs or completely changing the program as it helps to gauge the effectiveness of every component separately. Thus this model leads to more sensible and organised marketing decisions and results in investment in the correct and worthy channels.
Let’s give you an overview of what each channel individually mean:
- Paid: It means marketing done in exchange for money, like paid advertisements and content
- Earned: This is trading of valuable content by a renowned authority’s to their audience due to publicity and word of mouth.
- Shared: It means intensifying content within your own audience via social media
- Owned: This is solely your content over which you have full control and then you distribute it to the audience that seeks it.
In the next few pages, you will find details of each of the PESO media categories and how they can help in your marketing pursuits. They are explained with examples and practical applications that will make it easier for you to apply them to your organisation.
Paid Media Marketing
Paid media marketing comes at a cost. It requires an investment by the enterprise to distribute their content and creative assets. It is becoming mainstream and is high in demand when it comes to public relations. The compelling reason behind the huge payment is to get the influencers, amplification, and algorithms right and the need to maximise the content reach and coverage. The use of a high level of control estimates together with rigorous planning and predictive analysis can lead to practitioners making just the right use of paid media.
Some Examples of paid media include printed and televised advertisements; social media ads, promoted content and promotion by an influencer, which requires payment. You might find paid media to be archaic, irrelevant and waste of money at first glance but it gives immediate and predictable results making it worth the expense.
You might find it more burdensome than the others because one of the strengths of today’s marketing, especially shared and earned media, is that they are free of cost and let you avoid typical pitfalls but paid media has its own valid and potent strengths. It exposes you to different users and presents your brand in new limelight with a different and wider audience. It promotes you in more engaging ways and can work in tandem with other kinds of media, especially earned and owned media, and make your business grow at a trivial cost. It is one of the fastest ways to gain traffic and gain an audience. So by investing a small amount you can reap huge results. That is why paid media is said to be a good way to open up new vistas and horizons for organisations who wish to market themselves successfully.
How it can contribute to your overall marketing strategy?
It is vital for marketing because it might turn out to be the first exposure for many users, and you definitely want it to be a good one as first impressions count a lot. So paying for a promoted post or blog doesn’t matter financially if it leads to the building of a better brand image. Be it a new venture, which is freshly started or an already established and well-settled business, paid media provides all of them the opportunity to expand and enhance their brand reputation. As it is the top goal of an enterprise to proliferate widely as possible, paid media becomes one of the easiest and most popular ways to do so.
Paid media makes your business prosper because paid content has the potential to not only get random clicks but can also lead to many loyal followers, which will earn you clicks in the future. Furthermore, the best thing about paid content is that you can track the results of your content and assess its success more easily than organic content as the outcomes are quite evident and speak for themselves. You can find the statistics of your paid content on social media, for example, the number of Impressions, leads, and clicks.
Summing it up, paid media ensures that your content does reach the right audience. Be it big sale promotional advertisement, an update, or a video intended to establish your organisation as a market leader, using paid media will help them all get noticed, selected, shared all around and will also ensure that they reach the right audience.
Earned Media Marketing
Earned media is a cost-free source of marketing as it is gained through promotional efforts, which are not paid for. It is publicity gained without advertising or branding. It has been used for many years and lies within traditional realms of public relations. For example pitching of press releases and reports to third parties like analysts, journalists, and influencers have been very common and are the most used way to repurpose content for a wider audience. The only negative aspect of this media is that the enterprise typically has only limited control over results as it is shared via third parties. The outcomes are strongly dependent on the creativity of those who pass it on and the competitiveness and compelling nature of the content.
Some common examples of earned media are relations with blogger, influencer’s organic content, and media relations, which includes all media activity about the company, which is not created directly by the business but is generated by third parties like journalists, customers etc. The traditional earned media include publicity in media outlets like getting rated or reviewed, consumer-to-consumer communication regarding services and products (like advice and recommendations), showing off product by consumers to each other. Contemporary social earned media includes publicity gained through citations in digital media like blogs and articles, online referrals like invite to join the website, being mentioned in online and social networks like tweets and statuses, and getting rated or reviewed on apps and online sites like Yelp and Amazon
How it can contribute to your overall marketing strategy?
There is a reason for the increased use of earned media. It has led to business prospering as it provides new opportunities to communicate, engage, and compel their customers. It adds an innovative touch to overall marketing strategies as it is different from traditional marketing approaches of email and advertisements. It makes a consumer feel more confident as they trust the third party source more and provides a cost-friendly means for an organisation to promote themselves.
A great example of how earned media is vital for an organisation is its effective use by Dollar Shave Club in March 2012. They just launched a video campaign on YouTube, which earned them 12,000 signups within the first 48 hours of debuting. So this single video led to about 21 million views and gave them the reputation of best viral campaigns in 2012 and also an AdAge Viral Video award for Best Out-of-Nowhere Video Campaign. This shows the power earned media holds as it can change the game for an enterprise. Also as per Nielsen study conducted in 2013, it was found that earned media is most trusted by consumers. While surveying worldwide it was also found that this channel is also capable of stimulating the consumer to take action immediately.
Summing it up, earned media is considered to be the least costly method of marketing. That is why most of the companies nowadays are utilising the power of earned media. It is integrating with owned and paid media marketing to create a spiral in the world of marketing. It is not only a traditional method but also contemporary social media method of earned media that is taking the marketing domain by storm. They both have led to increased sales, and social earned media have outdone traditional method resulting in a much bigger impact. It has become essential for the businesses to pay attention to earned media in their marketing strategies!
Shared Media Marketing
Shared media marketing requires the use of social channels to connect users with content they like. It typically integrates with paid media but also functions separately. As many social media apps and sites have sprung up like LinkedIn, Instagram, Facebook, and Twitter. Shared media marketing can also be done through channels like messaging platforms which include the highly used iMessenger and WhatsApp. If it isn’t paid then the level of control over its result will not be high as outcomes will be generated through viral sharing.
Some common examples of shared media are tweets on Twitter, statuses on Facebook, posts on Instagram, and different content on other networks. Even though these networks are different but the lines between them are blurring and now shared media can be simultaneously used over multiple platforms. So, these platforms combined together truly encompass one of the fastest developing forms of marketing media called shared media and also known as social media.
How it can contribute to your overall marketing strategy?
Shared media might not be considered as useful as paid, earned or owned media by some companies, but it is not true as it holds a lot of power. This misconception that shared media is not valuable is because some organisation can’t measure its reach. They fail to realise that the hands of social media are spreading and a lot of content is going around without them knowing about it. It is hidden behind personal conversation and private tweets and chats that is why its true potential has never been understood.
So don’t underestimate its power as it can be beneficial or equally harmful for your marketing campaign. There can be discussions going on about your organisation, which can both be complimentary or critical in nature, which you cannot control if you fail to reach them. Thus it will become necessary to engage in shared media to change ensure your brand is perceived in a good manner. One of the best things about shared media is that it is an easily accessible avenue and it targets the right audiences, which results in leads being generated. Secondly, it enables external audiences to participate thus giving customer’s equal opportunities to take part in conversations, which lead to trust build-up. So if you incorporate shared media in your overall strategy, you can effectively interact with your customers and build an excellent brand image. If you’re not going to do so, you will lose a golden opportunity to create a positive impression amongst your audience and might even lose customers due to lack of responsiveness.
Summing it up, this is the only type of media where there is already an audience talking about you. There is no new channel to be created as the channel already exists. You just need to find that channel and ensure that the right content is shared with your audience. This means you already have the priceless opportunity to communicate with your audience, you only have to engage them in the right manner and provide them excellent customer service, so the tongues keep wagging and your brand image builds by itself. That is why more and more companies are using it as its upshots haven’t escaped their attention and they realise the power the social channels hold.
Owned Media Marketing
Owned media marketing revolves around creating your brand image and community relationships through self-created content, which needs a long term investment. It is any content that the organisation has full control on through any channel that the organisation can regulate. For example, an app developed by a business to deliver its content to its user is a perfect example of owned media as the enterprise exercise control over both the content and the application. However, this requires not only a financial investment but also a lot of time and efforts as the content and channels need to be maintained effectively to build a good community relationship with its stakeholders.
It is a highly effective source of marketing because you can have a high level of control over the results and reroute them in any way you wish. Owned media comprises of marketing channels that a company has full command over, if they improve and leverage their efforts on it, they will see a drastic improvement in all other aspects of PESO model as it increases the effectiveness of other media channels.
Some examples of owned media marketing are campaigns through email marketing and newsletters. There could be blogs and articles written and published by the company itself, and apps, websites, and podcasts created. Other types of content like updates, stories, etc. that are shown by the company to its audience also count as owned media. These content marketing efforts by using earned media can lead to either shared media or earned media, and mostly a mixture of both. So you can even categorise posts on Social media like Twitter, Facebook, and Instagram and Twitter as owned media, which can lead to earned media like comments, shares, and retweets.
How it can contribute to your overall marketing strategy?
Owned media and earned media are interconnected. It is owned media that results in earned media being successful. Owned media is important because it has effects on consumer behaviours. It has been found by Invesp that 78 percent of people are compelled to make the purchase by companies’ posts and tweets. Another study reveals that businesses have been successful in increasing their leads, traffics, and conversion rates by investing in owned media. Moreover, to build a good reputation and gain earned media the first step is to steadily produce compelling and alluring owned media. An effective website together with interesting content, will itself lead to users taking notice thus improving the marketing strategies.
Another reason to make use of owned media in marketing strategy is that it is the building block for all other marketing efforts. You have full control so you don’t have to worry about wrongly displayed ads and erroneous content. You also know the reach of your content and can target the audience you want to communicate with without being costly. You can ensure that long-tail keyword is used so that you can expand your organisations reach quicker. Lastly, owned media has longevity and versatility as this content can be anything you want and it never really disappears. It remains there until you decide to delete it.
How Much You Can Rely On Them?
PESO is useful as long as you use it right. It is not a plug-and-play solution where everything fits perfectly. You can rely on it as long as you pay attention to detail and find the right combination. It can cost you a lot if you over or under invest. You can rely on PESO to create credibility and build your brand awareness to a certain extent. You need to come up with a perfect recipe that makes use of the right portion of influencer marketing and content marketing and deploys them effectively to nurture prospects.
You can rely on Paid media marketing and shared media marketing to gain attention, but these printed advertisements and social media posts cannot be relied on to compel the customer to purchase. It is earned media, which you can rely on to establish credibility and push them to buy. While you can rely on owned media to make these customers permanent and convert them into future loyal customers who can help you get more earned and shared media!
You need to Tailor and customise PESO campaigns according to your goals and target audience. If you want it to be successful. You need to focus on your consumers and what they prefer and then with influencer marketing, you have to decide what types of owned content will appeal to particular influencers while keeping in mind your and then decide which PESO channel you can rely on. If you chose the wrong strategy then you cannot blame PESO for failure. It will only work if it is played well.
The marketers have a tendency to utilise the media which they are proficient at. They fail to realise that there is so much more beyond what is most comfortable. The PR only look at public relations and influencer marketing while IT marketers depend too much on Social media, and advertisers only make use of paid media, whereas inbound marketing departments rely just on owned media. This is where the marketing strategy goes wrong. Each of these kinds of marketer adopts a wrong strategy as they don’t accept the cons of their own chosen channel. What they should do is to organise their efforts into all four channels, and integrate multiple channels so that they can compensate for each other’s weaknesses and combine their strengths to give a powerful impact. Thus they can be relied on if they are used along with each other!
Criteria for Measuring the Success of Your Marketing Campaigns On All Four Platforms
If you want to measure the success of each platform, you need to look at the campaign and the environment it worked in, and the key is to treat each channel and its campaign separately. You should set a different number of leads, clicks, purchases and so on to measure the success of each campaign. Compare your success with the success of other brands, past experiences, and industry standard. Do not evaluate the success in isolation from other factors like timings, cost, competition, and efforts. Identify the variance from what you expected and find out what occurred differently and why did it occur. Do not just emphasis on numbers, it is also the quality of sentiments that matters when evaluating success. When comparing with benchmarks first ensure that the benchmarks are similar and are according to your enterprise. Remember that industry standard and competition matter a lot, so pay attention to them when gauging your success. Look for small achievement rather than big transformations as they don’t occur overnight. Don’t expect every campaign to be successful and keep a margin for failure. Lastly, do not lose hope because you never know when your luck will strike and one campaign can change the game.
Identifying and designing digital PESO touch points during the different stages of the customer journey.
The essence of PESO is that it can be applied at to digital touch point at each stage of the consumer journey. From introducing the product to compelling the consumer to buy it and the customer service at the end, can all have PESO media marketing them effectively. When considering product launch paid media can be used to advertise it. Then at the booming stage earned and shared media touch points can help you build your brand value and owned media can help in SEO optimisation. Thus at every step digital PESO touch points will help the consumer to proceed accordingly.
The first step is to identify the best touch points and decide which channel will best suit it. For example, at launch, you should go for paid influencer marketing and choose the influencer and content best suited to attain your goal. Then at the next stage, define engagement targets and design tactics to reach them. Here you can use shared, owned and earned media to attract people to purchase your product. An SEO optimised content with a good website and appealing blogs could act as an alluring touch point. Thus you can make good use of peso throughout different stages of the customer journey.
The importance of synchronisation amongst paid, earned, shared and owned media marketing channels.
Remember the power of many is a lot more potent than the power of one. So if one aspect of PESO model can create such alluring content than think what these all can do if combined. It Is true that each channel in this model holds unique and distinct importance and serves different purposes but they can never the less be used together to create wonders.
Each one of them is interlinked. So in the world of today’s social media marketing and digital blogosphere, if you amalgamate the power of many in right amounts you can find the optimal marketing strategy that is not only economical, but also effective and efficient. Just one single tweet or post if planned correctly can fall into all four categories and create an ocean of opportunities for your enterprise. Thus it is important to understand that synchronisation of paid, earned, shared, and owned media marketing channels are essential for your marketing needs.
For example, if you rely on one journalist to write a leading story about your brand without paying a nickel, can give you widespread coverage but has its cons. The message is not written by you and can contain negative aspects about your brand, which you don’t want to publicise. It might never get published or might get criticised as a sham. So you can neatly solve these challenges via the power of PESO by not just depending on one channel as it can hurt you if the ability of that channel diminishes
Remember that every media channel has its strengths as well as weakness. You will find some cost-effective while others will be more compelling and have a wider reach. Some will cost more but will garner more trust and have predictability. So it is better to synchronise all of these by putting efforts in all of them in order to optimise their effectiveness as well as their value. The real success of these models lies in a combination of the four outlined media. The enterprise only stand to benefit by this model if it takes a big step back and first asks the question that how it could achieve its aims by collectively using all the channels
Summing it up, the PESO channels should be used strategically and simultaneously. Do not over-rely on one channel. Try covering all the marketplaces and social media networks and channels your target audience uses. Lastly always keep it in your mind that your aim is to build your brand image and for that you need engagement and a loyal customer base. This aim will prevent you from getting distracted and will help your organisation to effectively put the PESO model to work. Then you will be able to get valuable media results you always wanted, and gain maximum benefit from strategising PESO channels.