Ecosystem is word that I’ve started to use a *lot* lately to explain how paid, earned and owned medias must work together when creating digital strategies for big brands.
The media classification – paid, owned, earned – is a well accepted marketing framework first articulated, to my knowledge, by Forrester research’s Sean Corcoran (@seancor) in his report “Defining Earned, Owned and Paid”. This lovely classification outlines how brands may have strong control on the content and channel in owned channels, control on content but ‘renting’ in paid medias but in earned – the brand has neither control over the content nor the channel.
This distinction has been helpful for clients to understand the role of the three media and its suitability toward achieving certain marketing objectives. Interestingly, some of the benefits have been changing namely paid media’s increased ability to affect conversion goals.
Where the “ecosystem” comes into mind – is not just understanding the overall benefits of a media but delving into what the organizational weaknesses in the various medias. If a company has no mobile solution and turnaround is not timely, then how can owned media support this gap? It can be damaging to the business to wait for future development of large owned media and digital strategies need to examine how the other medias will bridge the gaps. Owned media is just the example. Downfalls exist in all medias which can supported by the other medias.
Okay – now its confirmed that I’m a nerd. I feel so excited that Forrester is following my tweets– which is mostly made up of my blog post headers & links AND – they are following my tweets before I am following theirs – so in twitter fashion, I am invited to follow them. tee hee.
I’ve always enjoyed Forrester reports and lamented my subscription loss when IBM changed its subscriptions (long story – my division started reporting to a technical division due to our work in emerging tech and despite being a management consultant/marketing strategist in need of research, subscriptions were only given to consultants in the business side. Ah, the process mistakes of a big company vrrr). Today – I am armed with the blogs and so enjoy Forrester again.
Forrester follows 5, 537 people (making me no. 5,538)
I can’t find the current no. of twitter users (without spending a lot of time on google) but in Jan 2008, twitter facts identified 450,000 active users. Well that was a year ago. But that makes me [5,538/450,000] among the 1% population being followed by Forrester. Cool.
I wonder if tweet subscriptions are automated. If I mention two analysts names in blog posts, do I get followed? Hmmm.. that would lessen my excitement. I’d like to imagine a jr analyst jumping up and down discovering my tweets saying we must expand from 5, 537 to 5,538!
Currently there are 14, 381 people following forrester.
And.. are you ready? Seeing as I only started being an active tweeter four weeks ago – I have a total of 17 followers! (including Forrester).