The Rise of Owned Media

Understanding and leveraging owned media is a necessity for B2B companies. Unlike earned media, which is dependent on external factors such as word-of-mouth or press coverage, owned media - your website, blog, newsletters, social media profiles, and all other content you distribute - gives you full control over your narrative. It's a reliable platform for showcasing your expertise, building audience loyalty, and driving sales. In a world where B2B customers seek trusted partners, not just vendors, owned media empowers you to tell your story, demonstrate your value, and build meaningful relationships.

In this post we’ll explore: 

1. Why Owned Media has Become Invaluable to B2B Businesses
2. A New Trend: Building an In-House Media Engine
3. A Case Study: Robinhood Snacks
4. The Business Model: Does Building an Owned Media Engine Make Sense for You?

Why Has Owned Media Become So Valuable?

1. Ownership of Audience: A primary advantage of owned media is the direct relationship it facilitates between a company and its audience. Unlike shared media, where the connection with the audience is mediated by platforms like Facebook or LinkedIn, owned media allows businesses to directly interact with their audience. This becomes especially crucial in the B2B context, where building and nurturing relationships is key to driving business outcomes. By owning the media platform, businesses can curate an audience that is highly engaged and more likely to convert into customers.

2. Control Over Messaging: Owned media platforms like blogs, newsletters, and company websites give businesses absolute control over their messaging. From the tone of voice to the content's cadence, businesses can tailor everything to align with their brand values and audience expectations. Furthermore, owned media allows for the creation of in-depth, comprehensive content that can effectively communicate the company's expertise and value proposition – a critical aspect in the B2B space.

3. Safeguard Against Shared Media Algorithms: Ever-changing algorithms on shared media platforms has made organic reach increasingly difficult. These algorithms determine what content is shown to users and in what order, often favoring paid content over organic posts. Owned media is immune to these external algorithms. Whether it's a blog post or a newsletter, businesses can ensure their content reaches their audience without being filtered or deprioritized. This direct, unmediated access to the audience not only enhances content visibility but also enables more accurate measurement of engagement metrics, aiding in better content optimization.

The New Trend: Building an In-House Media Engine

You’re not a media company or a publisher… or are you? There are great reasons to consider building a media hub on your site:

Full Control Over Content

From conceptualization to creation, and finally, distribution, you can produce content that is uniquely tailored to your brand and audience. This can range from blog posts and whitepapers to webinars, podcasts, and video series.

Plus, the content can be crafted in real-time, allowing you to respond promptly to industry trends and changes. This agility is a significant asset in the fast-paced digital world, where timely and relevant content is key to audience engagement.

Deepening Customer Relationships

Your media hub paves the way for deeper and more meaningful relationships with customers. By producing regular, high-quality content that addresses the needs and interests of your audience, you can foster a sense of trust and loyalty–especially vital in the B2B sector, where purchasing decisions are often based on long-term relationships and demonstrated expertise.

Consistent Brand Narrative

If you control your content, you’re able to create a consistent brand narrative across all customer touch points. This consistency strengthens your brand identity and can significantly enhance the customer's perception of your brand.

Harnessing Data and Analytics

Hosting your own content also gives you valuable insights into your audience. You can track and analyze how content is consumed, which topics resonate most, what formats are preferred, and when is the best time to publish. This data can then be used to refine content strategy and make informed decisions that boost engagement and conversion rates.

That data also gives you a more nuanced understanding of the customer journey. By tracking a customer's interactions with various pieces of content, you can identify key touch points and opportunities for engagement.

Case Study: Robinhood Snacks & Emerging Cases

In the realm of owned media, one example stands out: Robinhood and its acquisition of the financial news podcast 'Snacks'. 

Robinhood's Visionary Move

Robinhood, a financial services company known for its commission-free trading platform, made a strategic move in 2019 by acquiring 'Snacks', a popular financial news podcast. Recognizing the value in the podcast's approachable format and its ability to engage listeners, Robinhood transformed 'Snacks' into its daily newsletter and podcast. The aim? To deliver financial news in a digestible, entertaining, and easy-to-understand manner.

The result was a resounding success. Robinhood Snacks swiftly gained popularity, with its daily briefings becoming a go-to source of information for many. The user-friendly approach taken by Robinhood Snacks helped demystify financial news and fostered a sense of community among its listeners.

This strategic move not only boosted Robinhood's brand visibility but also positioned the company as a trusted, reliable source of financial information. This, in turn, fostered greater trust and loyalty among its user base.

Setting the Precedent

Robinhood's acquisition of 'Snacks' illustrates the power of owned media and provides a blueprint for other businesses. It showed that with the right approach, owned media can be used to foster customer engagement, build brand authority, and ultimately, drive business growth.

Several companies are following in Robinhood's footsteps, recognizing the potential of owned media as part of their marketing strategy. These emerging cases are a testament to the growing importance of owned media in today's digital landscape. (Check out Adobe, Red Bull, Microsoft, and American Express for other great examples.)

In essence, the case of Robinhood Snacks serves as an inspiring example of how businesses can successfully leverage owned media to engage their audience, enhance their brand, and drive growth.

The Business Model: Does Building an Owned Media Engine Make Sense for You?

When considering the business model of owned media, it's clear that its role in a company's strategy can vary widely depending on the organization's needs and goals. Here's a deeper look into the different ways businesses can leverage owned media:

1. Loss Leader: In some cases, owned media can function as a loss leader, akin to how software companies offer implementation services as a necessity, even when these services don't directly generate profit. For instance, a company might invest in creating high-quality content, like comprehensive guides or insightful podcasts, knowing that these resources might not immediately bring in revenue. However, these content pieces are invaluable for building brand reputation, fostering trust with audiences, and eventually attracting new customers. Over time, these benefits translate into customer acquisition and retention, making the initial loss worthwhile.

2. Product in Itself: In other scenarios, owned media can become a product in its own right. Some businesses market their media and product equally, selling a "relationship" before the actual product. For example, a company might build a dedicated following for its thought leadership content, creating loyal readers who appreciate the insights and expertise shared. This builds a strong relationship and rapport with the audience, who may be more likely to consider the company's products or services in the future.

3. Catalyst: Owned media can also act as a catalyst, accelerating various stages of the buyer's journey. By consistently providing valuable and relevant content, a company can stay top-of-mind with potential customers, stimulate interest and demand, and expedite sales cycles. Moreover, well-crafted content can serve as an upsell tool for existing customers, showcasing new features, products, or services that customers might find useful.

4. Education Tool: Perhaps one of the most important roles of owned media is serving as an education tool. It's a space to inform, educate, and enlighten your audience about industry trends, best practices, and useful tips, rather than pushing products or services. This approach helps to establish the company as a trusted and credible source of information in its industry. It not only nurtures the relationship with the audience but also enhances the company's reputation as a thought leader.

The business model of owned media is flexible and adaptable. It can be tailored to a company's unique objectives and audience needs, making it a powerful tool in any organization's marketing arsenal.

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