What is Converged Media? How to Create Converged Media Strategy?- The joined media trend is presently taking over the marketing industry. Today, brands do not limit themselves to one or two stages for promoting their offerings. Rather, they promote their products on manifold platforms to reach a wide customer base.
Give this a thought – how many makes do you know, and how did you get to know about them? Is it only finished social media platforms? We guess not.
There are so many makes that you must have become to know by your friends and colleagues, some you had come to know finished Facebook or Instagram, a few finished YouTube ads or TV advertisements. You can even total the brands you saw finished billboards or excellent promotions.
These mediums show that makes reach their niche spectators and promote their products finished multiple channels. It is extensively known as meeting in the media and marketing industry. This blog assistances you understand what joined media is and its various strategies.
What are Converged Media and its role in the Marketing Industry?
In the digital era, we are continually distracted by numerous platforms. Brands are using this interruption to make profits. It is done finished a joined media strategy. Therefore, before you investigate the technical definition of joined media in marketing, it is necessary to understand the connotation of its three components.
1. Owned Media
How do brands endorse their products or services without expenditure a large sum on marketing movements or sponsored advertisements? They do it finished owned media, which they have filled control over. Brands do not need to pay additional for promoting their gratified on owned media. The best examples of possessed media are websites, blogs, social media handles, and visiting cards.
2. Paid Media
As the name suggests, paid media is a form of marketing or advertisement for which brands consume to pay. It is conflicting with owned media. Whether through TV advertisements, YouTube ads, or sponsored ads on numerous social media platforms, makes have to pay for their content to spread the target audience. Since this form of marketing needs direct investment, it is called paid media.
3. Earned Media
Earned media is a marketing strategy where brands do not have to pay for ads directly. Instead, they earn the benefits. For example, all the countless appraisals of products or services on search trains are made media where brands do not straight pay the customers for countless reviews. Instead, they invest in refining their customer service. Similarly, brands also propose free or reduced PR products to influencers. When influencers post good reviews, makes gain promotions which further creates leads.
These three types of television frequently overlap. For instance, the brands’ made media and paid media make the possessed media. Each of these rudiments plays a critical part in marketing policies. It is for the businesses to choose where they should assign their resources. Usually, brands prepare marketing strategies in combination with all three – retained, paid, and earned media. This amalgamation, known as meeting media, helps bridge traditional and contemporary marketing policies.
If brands wish to increase their customer base, they cannot attention to only one section of their audience and leave out others. Therefore, they need to promote on various platforms rendering to their customer base. In simple words, meeting media is a merger of several media and communication stages through technology and marketing. It can also be called integrated digital marketing.
Why Does Your Business Need a Converged Media Strategy?
Here are a few details of why almost every business needs a joined media strategy for marketing!
1. Expanded Customer Base
Since joined media strategy focuses on multiple platforms, it surges the probability of ahead more customers. Not all target group persons need to be current on the same platform. Therefore, endorsing your brand on numerous platforms can help you increase more customers.
2. Builds Trust
The online attendance of brands is crucial in today’s era. It helps increase the trust of the audience. If possible, customers find the brand’s occurrence only on one platform, they strength not find it dependable or trustworthy. On the other hand, if a brand has its online attendance on various platforms, it becomes easier for possible customers to confirm and check reviews online. Therefore, joined media marketing is helpful in gaining the trust of your target audience.
3. Greater Reach
The mixture of owned paid and earned media also increases brand reach. When people see your made media reviews, they are probable to visit your owned media channels (blogs or websites), thereby increasing your reach.
How to Create a Converged Media Strategy?
Meeting media is an excellent policy for inbound marketing. Here is how you can build a Converged media strategy:
1. Studying Consumer Behaviour
Before you begin making a joined media strategy, it is essential to understand and analyze customer behavior and pattern. You have to see how customers respond to raises and advertisements on dissimilar platforms. You must also travel which platforms offer maximum principal generation. Study your customer’s behavior and analyze their requirements, preferences, degree of interaction, possible modes of communication, and other pertinent factors. After this, you need to list the marketing stages based on priority.
2. Analysing Resources
Since the spirit of convergence media is the addition of various platforms and media, it also needs to pool all your sources composed. First, you must analyze the obtainable resources, counting your teammates, colleagues, vendors, and agencies. For example, if you plan to take your content marketing game up by a notch, you can request one of the capitals to lead the content marketing team. If an interior reserve is not available, you will have to pursue help from an external resource.
3. Figuring Out Opportunities
It is also important to number out opportunities on platforms. It means that you need to analyze which stages will be the best for endorsing your business. You should assign maximum resources to those platforms. For example, if your firm proposes recruitment services, you will be talented to find the mainstream of the target audience on job search platforms like LinkedIn and Indeed. You would want to invest your resources in alike stages rather than other social media websites. Thus, finding opportunities is critical.
4. Preparation, Execution, and Monitoring
After you have joined all your resources and figured out development opportunities, you need to make a joined media plan or marketing campaign. The last step is execution. Device the policy with full force by taking ownership. However, recollect that only executing the strategy will not suffice. After applying your joined media strategy, you also need to monitor its performance. Analyze your social media channels, marketing campaigns, customer interaction, leads generated, and the general response of your strategy. If something goes south, you can act on it timely.