The Emergence of Converged Media
Converged Media utilizes two or more channels of paid, earned, and
owned media. It is characterized by a consistent storyline, look, and feel.
Display, banner ads corporate website
Sponsored posts, ads microsites
PPC ads corporate blog
Pay per post blogging
Outlying channels don’t neatly conform to the categories of paid/owned/earned media. This is to be expected from some forms of digital media. Online contests and sweepstakes, for example, are often hybrids of paid, owned, and earned media. And as mentioned above, shared media (“likes,” “retweets,” “shares,” etc.) are considered by some to be a wholly separate channel from earned media. Moreover, shared media may or may not contain original content (e.g., a comment or other earned media) added by the sharer. Co-created content is another category that could be assigned to earned or to shared media. We acknowledge these arguments, but for the purpose of this report we will consider “shared” media to be part of earned.Definitions for Reference- Paid media: are display or broadcast advertising. In digital channels, paid media include banner ads, Pay Per Click (PPC) search ads, advertorials, sponsorships, sponsored links, and pay-per-post blogging. The common factor of all these channels is that they are a form of advertising for which a media buy is necessary.Owned media are all content assets a brand either owns or wholly controls. Owned media channels include websites, microsites, branded blogs, videos, and the brand’s own(ed) presence on social media and social network channels, such as Facebook, Twitter, YouTube, Flickr, etc. Owned media is largely content marketing, i.e., content a brand owns and/or publishes that involves no media buy.Earned media is user-generated content created and/or shared by users. (It bears mentioning that some consider shared media to be a separate channel. More on this below in Outlying Channels.) Types of earned media include consumers’ social media posts, tweets, reviews, videos, photos, and open online communities. Another component of earned media is mentions in media or on social channels that are the result of PR or media relations. For brands, earned media is the most elusive and difficult of the three channels; while it can be influenced, it cannot be directly controlled.
Rebecca Lieb’s report, “The Converged Media Imperative” provides a checklist of success criteria for each of these stages. Altimeter found a set of baseline needs that brands and their ecosystem partners must have in order to succeed with converged media. We view this new paradigm of creative development as analogous to a chemistry lab in which marketers must conduct and monitor numerous experiments involving many moving parts to concoct successful formulae. To aid marketers, we’ve provided a checklist. Strategy: 1) awareness that media consumption is changing; 2) building strategy.Organization: 3) ability to achieve earned media at scale; 4) alignment, individual stakeholders can’t “own” convergence; 5) align agencies require briefs that include POEProduction: 6) consistent design, voice, branding; 7) real-time responsive; 8) channel flexible; 9) building influencer relationsAnalysis: 10) social listening for instant feedback; 11) measuring success cross media.TRANSITION: So how do we begin this journey…[AGENCIES] Can position themselves with clients in this criteria, in all phases.
Above: Altimeter found a workflow pattern based on 34 interviews, while we heard a variation on workflow patterns, this one was common
Results: Imagine a challenge like Applebees, a brand with thousands of independently owned/operated franchises. Applebee’s retains control over messaging and content, while dramatically improving ROI by connecting with customers at the local community level. A pre-approved content library provides local restaurant owners with content. With over 7,000 employees using Expion to manage 1000+ locations, Applebee’s has increased its engagement with their customers by building on their brand promise as your “Neighborhood Bar and Grill.”
ANIMATED SLIDE, MUST BE IN PRESENTATION MODE TO PLAYBut despite a fragmented industry, media are converging because consumers demand itComplexity is increasing in the business space. Consider these facts:There are new sources of information: Aside from press, media, analysts they are also relying on the crowd, friends, colleagues. Soon augmented reality will allow for new data forms we’ve not yet seen. (that’s about 5 factors)New forms of media: The channels as we know them Paid Owned and Earned are starting to intermix, as a result a new form of media is impacting them. Social websites have social ads, making content and advertising a new form. (that’s about 3 factors)New screens: Traditionally we’ve thought of TV, Laptop, and Mobile, but now we must factor in a tablet experience (which is different than the aforementioned) and with Google Glass augmented reality coming, that will be a fifth screen to build a strategy for. (that’s 5 factors)To understand the complexity, this model suggests 5 X 3 X 5 which is 75 different permutations. Next, the brand must understand this for every single phase: awareness, consideration, intent, purchase, support, loyalty, advocacy, (that’s 7 steps, resulting in 525 permutations per persona) then multiple times every product group and then geography, the math is staggering on the complexity.
How much do you really know about me? If we are going to be in a relationship, then I expect that you’ve taken the time to get to know me before we even meet. Trust becomes a significant issue. Relationship between privacy and permission