This article was originally published on Forbes.com on May 6, 2024
RACHEL KULE, PURSUIT PR
Forbes Councils Member
In my previous article, "Why Earned Media Is The Corporate Rainmakers Best Friend," I defined earned media and explained its role in advancing corporate reputation: "Earned media fuels the entire communications ecosystem. This includes opportunities to maximize the value of earned media through paid, shared and owned media."
It's clear that earned media is valued by executives for its instant credibility and wide reach. Media coverage also expands brand awareness, raises firm and executive eminence, bolsters credibility, produces a halo effect of prestige and promotes a positive culture—to name some areas of impact.
Media coverage has reach, which can result in a company earning a prominent ranking on Google, Apple News and other search engines. I have witnessed clients earn direct business from thoughtful insight captured in top-tier media coverage, and others who build goodwill with clients and employees who applaud seeing their name in print.
Because of its immediate impact, earned media is a top priority for business growth. While the outcome of a positive article feels like hitting the jackpot, the impact reverberates far beyond that moment in time.
In order to drive business growth, earned media needs to be utilized to its full potential. When leveraged effectively through media merchandising, earned media activates an entire media ecosystem.
Media merchandising combines the power of thought leadership with the benefits of the paid, earned, shared and owned models of communication. To best understand media merchandising, it's relevant to define the PESO model that underpins strategic communications and marketing. PESO stands for "paid, earned, shared and owned" media.
• Paid: Includes sponsored content along with traditional and digital ads. Companies pay to secure and distribute their message.
• Earned: Organic, unpaid content that is endorsed, promoted and distributed by media outlets (for example, TV or newspaper interviews).
• Social: Shareable content that lives on digital platforms like LinkedIn. The channel may be used for a mix of paid, owned and earned content distribution.
• Owned: Original content developed by thought leaders or the company and distributed on owned channels such as a corporate website and/or via social media channels (e.g., blog articles, podcasts and videos).
Earned media, when used to its full potential, is the force multiplier for sales and marketing. When effectively utilized, earned media enriches sales and marketing strategies to achieve measurable growth.
This can be approached in many ways. A few examples:
• Paid: Recently, LinkedIn introduced Thought Leader Ads. The function is to share thought leadership insights versus a traditional ad, further validating the value of executive thought leadership and C-suite eminence.
• Shared: Real-time, news-driven content that amplifies the earned coverage—think of a post on LinkedIn or X.
• Owned: Longer form, planned content that lives on your website, such as a thoughtful article that expands upon insights noted in an interview can sync to an "In the News" section that highlights coverage.
There are countless ways to leverage the power of earned media, and its role in the PESO model, to drive revenue. Media merchandising that fully supports growth marketing needs to be integrated into sales presentations, processes and strategies. For companies that have investors, it can also make its way into investor communications, including presentations, conferences, earnings and board meetings.
However, to fully benefit from earned media, there needs to be a commitment to media merchandising—including direct involvement from the communications team. It warrants the development of a strategy for a nuanced approach to planning the timing and pathway to amplify thought leadership in both sales and marketing.
With many ways to maximize earned media, it can be daunting yet rewarding. The most important principle to remember is that thought leadership is at the center. Without it, there won't be substantive and differentiated insights.
When merchandised effectively, earned media coverage is like fuel for the sales cycle.
Earned media isn't a given. That's why it's earned.