Owned Media traffic is the digital asset of the corporate brand, which is important to maximize the economic value of the brand. It is crucial for businesses to focus on closing sales, retaining existing customers, and turning them into loyal customers.
The most ideal operation model in future is the self-circulating ecology formed by Owned Media, Paid Media and Earned Media. All these elements have their own roles and are important to digital media strategy to increase conversion rate.
The development of Owned MediaAs with every product which will have a product life cycle, so the same goes with the customer group.
Different businesses have different requirements to target the customer groups at different stages. For example, for knowledge-oriented communities, the introduction stage is to engage and stay active with the users. On the other hand, for marketing-oriented communities such as consumer goods, then the operating mix will look like as below:
Initial stage: Outbound marketing
Growth stage: Stay active
Maturity stage: Focus on conversion rate
Decline stage: Inbound marketing
How to increase traffic to Owned Media?After the user has developed positive brand awareness towards the corporate brand, the user can transition to the next stage and become KOL/ KOC that align with their own brand positioning.
From 0 to 1: normal user > paid user
From 1 to n: Paid users > KOC > Move to other business segments
When these developed users flow to the public domain, the exposure effect and word-of-mouth effect will be gradually expanded in the public domain. At the same time, this will reduce the decision making cost of new users, and shorten the original cycle time. The increase of organic traffic will stimulate the platform to distribute more traffic, thus forming a self-circulating growth.