As consumer media habits change, brands require media ubiquity. Some research suggests that some customer journeys could have as many as 75 digital variances combining varying content source, channels, and screens per touchpoint. If this is the case brands need understand how to best influence key touch points and experiences to ensure they retain the business. For example, in the Automotive shopping experience, according to Google Automotive 71% of car buyers are uncertain about the brand (e.g. Ford) and 72% on the model (e.g. Fiesta) with 50% having switched brands.* Advertisers need to find the ‘right’ medium be it paid, owned or earned along this highly dynamic customer journey to influence the purchase decision. This means there needs to be more synergy and integration between the Paid, Earned and Owned Media.
The following give an overview of Converged Media and the interdependencies between the media.
So what factors should be considered for a converged success criteria?
1. Reaching your target audience
This is about understanding their converged media consumption and patterns. It is necessary to have a multiple media strategy for reach and efficiency
2. Developing a converged media strategy
Based on the results and performance of channels, you can successfully architect strategies around Paid, Owned and Earned Media; a three legged stool is more effective than a two legged one!
3. Earned at Scale
Of the three, earned is the most difficult medium to achieve particularly at scale. A content strategy is crucial as content is important to nurture and build earned media.
4. Aligning Agencies & Vendors
Most large organisations work with a myriad of agencies. It is imperative that these agencies receive coherent briefs on Owned, Paid and Earned media and work together to integrate activities.
5. Departments & Teams
There needs to be clear policy and guidelines within the organisation for participation in a social media strategy which is not the sole responsibility of the marketing and sales department. If buzz monitoring of social conversations is picking up product or customer issues this needs to be looped back into the customer service department. If the business is positioned as a thought leader, then the CEO should be setting the tone with thought-leading blogs and PR pieces.
6. Integration content, design and channels
Whilst it’s somewhat stating the obvious there needs to be consistency across the messages and mediums particularly Paid and Owned media.
7. Real-time capabilities
Paid, owned and earned media are most effective when responsive.
8. Managing the mix
Whilst one channel may lead to convergence, no channel will retain prominence indefinitely, and the channel balance can rapidly shift without warning. It is imperative to monitor performance and nurture channels and account for the multiple channels at planning stages.
Not all earned media is created equal! It is important to identify, nurture ‘influencers’ who are critical to amplifying brand messages and building earned at scale. Budget for earned media should also be included in the planning
10. Social listening
By having a system in place to monitor conversations in social and earned media you will gain insight and ideas for responding to customers or enhancing or optimising your approach.
KPIs, as with any marketing initiative, should be defined at the outset of campaigns or initiatives with clear objectives and a system for measurement to measure if goals and objectives are being achieved.
In an increasingly complex and fragmented purchase cycle, brands must aim to influence the key touch points within the journey to retain the customer or win the sale, if you don’t your competition will!
*Netpop research 2010