Question

In: Finance

Imagine you are the new Social Media Manager for Company XYZ. While you realize you must...

Imagine you are the new Social Media Manager for Company XYZ. While you realize you must establish a balance between leveraging owned, earned, and paid media ... you also know that will come in time (when you have time!). For immediate success, you will focus on one. Which will it be? Why?

Solutions

Expert Solution

Short Answer: "Paid media"

Explanation:

Owned media are all those channels that a company owns this includes its website, mobile app, blog twitter account etc. While owned media is very cheap it takes time and effort to create. Creating a website or a mobile app is not a days job. It may take anywhere between 1 to 3 months to get up and running properly.

Earned media is the media that is not in our hand. It is when the customers of a brand become the brand ambassadors. This will happen when customers use the product and are impressed and then they promote it via word of mouth or buzz.

Paid Media is a fast and simple method to grow. In this method you pay any already established firm or hire an infkuencer to promote your product. In this way your product reaches large mases. Paid media is costlier then owned or earned media in general.

As mentioned in the question XYZ wants immidiate success, thus they should opt paid media as it is the fastest.

jeff jeffy answered 1 year ago
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