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Wednesday, February 16, 2011

Own Bought Earned Marketing Philosophy

After working with digital marketing over 5 years full-time I have not come across better framework than O-B-E. It takes the digital domains and splits them into easily manageable entities. It also allows brands to manage their resources effectively based on the different competencies needed in different domains. This is how it works on top-level:

Own - Brand possess various touchpoints which are used by their customers like actual packaging, product/service, websites, customer care etc. When evaluating the number of contacts and engagements in own media quite soon you can start to understand how to allocate your marketing resources to support these channels

Bought - this is the most traditional advertising, only brought to digital. Analyzing objectives helps to decide media buying model. Also understanding the ad network characteristics, and how to reduce waste is important. things like daily promotional times, frequency, times-to-view are all important to manage to maximise effectiveness. tagging and reporting is the key to change campaign budgets on the fly

Earned - social media is a great influencer. Understanding how are the people talking about you, what they say and how to interact with them is crucial. Also linking your own ,media to social and visa versa is nice way to boost the impact.

Taking this framework into execution requires good strategy but it can dramatically change the way your company spends marketing dollars to advertising. marketing is MORE than advertising.