But why have an owned media property?
Very simply, the old and trusted model that has been used for decades—advertising in trade publications—appears to be losing its luster for many organizations. Even writing articles in trade publications, as I have done for more than 14 years is losing some of its impact.
The reasons they want to be their own publishers are many. For instance, while I am a strong supporter of trade publications and hope they not only survive but thrive, the reality is that many advertisers find that they are just not getting as much bang for their buck with advertising as was once the case. It cannot be denied that advertising can be very expensive; further, while at one time, it once took three for four ad placements to determine if an ad was working, today it may take six even nine if the ad is delivering. That can add up to hefty costs—especially, if the ad is not working.
So what are the advertising alternatives?
Social media is one adverting alternative and may be a promising alternative; however, it has proven to be far more valuable and effective in the B2C (business-to-consumer) sector than in the B2B (business-to-business) sector. Still it is a way that manufacturers can de3vlop their own media properties.. Most experts believe the social media platform will become more valuable for marketing within the B2B sector in coming years. Especially if they have a dedicated team put together to promote their company on social media.
But will it ever be as powerful a tool as it is in the B2C world? We do not know at this time.
Another advertising alternatives that may be still evolving, especially among very large companies and organizations, is the development of what we have been talking about here, “onwed media properties.” A media property is essentially an online publication that includes news, stories, case studies, and similar content that all subtly and credibly promote the virtues of a company or its products in a non-advertorial manner.
This is when a manufacturer or any organization for that matter truly becomes a publisher. The non-advertorial nature of the material is key. As soon as a visitor realizes that the manufacturers publishing property is simply an advertisement, it loses its credibility, considerably diminishing its power as a marketing tool. That is why what is called “media property management” is key to success.
Examples of owned media properties are the following:
- https://vanwinkles.com, the media property for a mattress manufacturer
- https://newsroom.uber.com/introducing-momentum-magazine the media property for Uber
- https://contently.com/strategist/2015/03/27/contently-case-story-inside-marriotts-ambitious-new-travel-mag the media property for Marriot
- http://www.coca-colacompany.com the media property from Coca Cola
According to Richard Edelman, Chairmen of Edelman PR, one of the largest public relations/communications companies in the world, “[We are advising] every one of our clients to become a media company, skilled in presenting its own story, attracting eyeballs as a credible source on subject areas in which they participate.”
Edelman played a major part of putting this idea into practice for the U.S. dairy industry by creating the Web site Dairygood.org. Described as “an owned media property that offers views from multiple stakeholders ranging from farmers to consumers,” the site extols the benefits of dairy products, including everything from their health benefits to the industry’s economic contribution to the U.S. economy.
A perfect example of this is this article, Milk: Our Top 12 Milk Resources. This one page presents a dozen quality resources that visitors may click on to learn more about the virtues of milk. The site is so well done, the visitor might even overlook it is designed to promote the drinking of milk. It is totally educational, credible, and for a mother, presents all the information she needs to know why here children should be drinking milk.
She also soon trusts this site, values this site, and with this comes sales…in this case of mill.
When I first wrote this blog about 2 years ago, I ended it by saying the following: “It is too soon to tell whether manufacturers in the professional cleaning and building industries will begin developing their own media properties. However, as more companies clamor for new ways to market their products and services, this option may prove to be an effective choice for many.”
Well, I have to change that ending to the following: Almost overnight, one manufacturer after another has developed some form of a media property. And many of them are pretty darn good. They got the message, they realize now it is very important to have an owned media property. So now many of them are also developing trust, credibility, and with it sales.
Robert “Buzz” Kravitz is president of AlturaSolutions, which provides traditional PR/Communication services along with content marketing and search engine optimization programs specifically for B2B industries. Contact him at www.alturasolutions.com