Got a great email from eMarketer this morning on one of our favorite topics:
The first concept: Owned Media. It does a really good job of explaining the difference between earned media (what ad agencies do), paid media (what PR firms do) and owned media (what Raidious does). I wrote a post on this last year, and Forrester Research has covered the subject as well.
There were a couple of other topics the eMarketer research addressed as well that are important concepts. These seem to come up regularly in “shop talk” around the office.
The second concept is the concept of paying your marketing firm to accomplish an objective, rather than paying for production deliverables, like an ad or a press release. This is how we price our services at Raidious (we call them “initiatives”, not to be confused with “campaigns”). We think it’s an idea whose time has come.
The last concept is something we run into regularly (really two concepts) – direct response vs. brand oriented mindsets on the client side.
In our experience, the client-side marketing universe is divided into two camps, neither of which really understand the other very well: The Direct Marketer, usually an eCommerce / lead-driven mindset, and The Brand Marketer, someone who is more focused on what some people would call “soft” metrics, like preference, awareness, and other measurements of hearts and minds.
“The test of a first-rate intelligence is the ability to hold two opposed ideas in the mind at the same time, and still retain the ability to function.” F. Scott Fitzgerald
We take a lot of pride in our understanding of both approaches, and our ability to deliver on objectives from either side of the equation. But, if a genie granted me three wishes, the first would be for world peace, the second for an Audi A8, and the third would be for client side marketers to reconcile these seemingly opposing points of view. They’re both valid, and valuable approaches, but as the eMarketer article points out, they work best when they work together.
Come back and visit our site in the coming weeks, we’ll be exploring all of these ideas. In the mean time, if you’d like to talk to a firm that can help with all of this (owned media, objective driven marketing, direct and brand approaches) . . . give us a call!