Gun Johnson’s essay in The Digital Metrics Field Guide, pointed out the need to identify the effects of paid, owned and earned media individually and how they interact. New research from Marketing Science Institute (MSI) does just that, making important contributions to our understanding and valuable recommendations for strategy. It complements research reported in the Field Guide, especially regarding earned media.
The research looked at two types of goods, what economists call “search goods” and “experience goods.” A search good is easily evaluated before purchase. An experience good is a product or service that is hard to judge in advance, but is evaluated more easily after it is consumed or used. And they looked at familiar and unfamiliar brands within each type.
Here’s what they found:
Earned Media: Overall, their findings confirm the importance of earned media – impressions that come Continue reading “Paid, Owned and Earned Media: When does each work and when do they work together?”