Online media and online businesses are essential to our modern world. The digital platform lets you connect with your consumers in different ways and increase your brand’s recognition, while attracting customers to your service or product. It also allows you to drive traffic through social media or search engines as well as other websites, resulting in more opportunities for revenue.
Digital media companies produce, create or distribute digital content on a variety of platforms. Some examples of this are podcasts, video, blogs and e-commerce websites. Some of these companies offer subscription models, similar to the traditional newspaper or magazine models, where users pay a monthly fee to gain access to content all month long.
The digital medium offers new revenue streams which were not before. It is important that media companies understand the new possibilities, and how they can be used to their advantage.
The three main categories of digital media are owned as well as earned and paid media. Owned media is the content that your company owns and controls which includes your website, blog and social media channels. The more owned media that a company has, the more visibility it will have on search engine results pages. It is therefore important to optimize your own media to ensure that search engines are able to find it and rank it. Paid media can be described as PPC or social media advertisements and advertising that retargets. Earned media is content that is that your customers share with you, which can help build your brand. Examples include recommendations on social media and electronic-WOM.