To begin, we must understand a basic concept that allows us to understand the need to use all the means at our disposal in a combined manner. There is a tendency to design marketing plans that are practically monochannel. That is, putting emphasis on a single channel (generally social networks), and leaving the others almost forgotten.
What is Media Convergence in Marketing?
The evolution of the Internet usa phone numbers list and the media itself is constantly changing the relationship between paid media, owned media and earned media. That's why we must avoid putting ourselves on autopilot and defining standard plans. It's important to adapt the way we combine them to maximize the impact of our marketing activity.
I first read about the concept of media convergence in a whitepaper by Altimeter Group (“Paid + Owned + Earned = Converged Media”, on the blog of one of its authors, Jeremiah Owyang).
Definition of media convergence
*It is the combined use of paid, owned and earned media that allows us to meet the objectives of the defined marketing strategy and maximize the impact of our actions.*
Media Convergence and its Impact on the Marketing Plan
In the marketing plan, each type of media serves a specific function, depending on the stage of the buying process. In the framework image below, you can see how media aligns with each stage of the buying funnel.
Paid media helps increase brand awareness and, in later stages, can serve to reinforce consideration and action.
Owned media (such as blogs, social networks, etc.) are ideal for establishing a closer relationship and educating the user.
Earned media provides credibility, as it comes from third-party recommendations, and is essential in the consideration and loyalty phases.
Remember that not all channels are equally effective at all stages. The key is to select the right channels for each moment, aligning the media mix with the funnel objectives.
The idea is that the three types of media make up the marketing touch points , the places where the brand must be present to implement constant and relevant communication.
media convergence in marketing
Altimeter Report: Paid + Owned + Earned = Converged Media
Digital strategy relies primarily, and increasingly, on content, so brands must become true publishers. It is not about creating content just for the sake of having something to say, but about designing content plans that align with the marketing strategy and accompany the user in their transformation from user to customer, as they go through each phase of the sales funnel .
In the diagram below, you can see how paid, owned, and earned media relate to the purchase funnel, and how these should be adapted depending on the stage the user is in, whether it is awareness, purchase consideration, purchase, or loyalty. The idea is to choose the best combination based on the stage of the funnel the company is in.
Purchase funnel or conversion funnel and online strategy - tristan elosegui
How to Define a Marketing Plan
Understanding media convergence is only the first step in defining a successful marketing plan. A marketing plan is a foundational document that details how the company will carry out the actions necessary to achieve its marketing goals. Unlike a strategy, which defines the “what” and the “why,” a plan focuses on the “how.”