Raised in a digital, media-saturated world, millennials are digital natives — and are therefore the first to notice if your digital experience is lacking. Now, before you go creating a digital marketing plan, you need to understand the different types of media that you can incorporate. The trifecta of a great digital media plan includes earned, owned, and paid media. Using these three together is referred to as a converged media strategy. Not only are the components of this digital marketing trifecta important, they also directly impact each other in several ways. For our clients to be able to become the best digital marketers, we have laid out definitions, explanations, and examples of paid, earned, and owned media while explaining how each corresponds to the next. When you find these synergies, the impact is powerful. That's the key focus of this new infographic from Tracx, which links 'paid', 'earned' and 'owned' media into a singular approach, which they're calling 'The Social Trifecta'. Each type plays an important role in your digital marketing strategy, and all three are required to work together in order to cover all your marketing bases. Economics. Trifecta Digital Marketing | Market smarter. 3) Use data to make smarter business decisions. Moderator Don Davis Editor-in-Chief Internet Retailer Panelist Dave Walters Product Evangelist Silverpop Panelist Bob Egner VP, Product Management EPiServer Sponsored by: 2. LENS SHARPNESS Digital marketing is expected to have an 11% compound annual growth through 2021. Digital art, once created, can be easily mass produced (which is why it is popular with artists who practice pop art and poster art ). Advantages of digital marketing. Accounting. A digital marketing action plan allows you to build and launch your online marketing strategy with success. Sales and Business Development The characteristics of a consumer-centric, iterative, accountable, fast-paced, and data-driven culture may have been motivated by the digital shift … Leadership ... Identify the eight functions of marketing physical goods. Ask yourself, what task am I helping my customer complete? All three elements, owned, earned and paid are important to a digital media strategy. The Digital Marketing Trifecta: Owned, Earned and Paid Media. Solution for How do the characteristics of digital marketing affectthe promotion element of the marketing mix? Look at your website like your home base. It’s up to you to evaluate these three themes and decide where to allocate your resources to make the most sense for your brand. On the other hand, when a business invests on building a website, advertising the brand name through different social media such as Facebook, Twitter and YouTube, this kind strategy is called digital marketing. You can easily reach your target local audience. For example, a radio ad might play in one location: your city or region. Judy Sparks has experience dealing with all three corners of the trifecta, and in this episode of AEC Marketing for Principals, Katie Cash and Judy help identify key characteristics that make each one unique. Digital marketing also comes with a number of challenges you should be aware of. This marketing agency needs to have knowledge about your industry as whole. cont
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