Online media and online business are essential to the modern world. The digital platform lets you connect with your customers in a unique way and increase your brand awareness, attracting customers to your product or service. It also gives you the ability to drive traffic through social media as well as search engines and other websites, resulting in more opportunities for revenue.
Digital media companies are those that create, produce, distribute or exploit digital content in various forms and on a vast variety of platforms. Examples include podcasts, videos, blogs and e-commerce websites. Some of these companies have a subscription-based model that is similar to the traditional magazine or newspaper model, where users pay a monthly cost to access content.
The digital medium opens up new revenue streams that have never been previously available. It is crucial for a media company to be aware of these new possibilities and how they can be used to their advantage.
The three major types of digital media are owned or earned media, as well as paid and earned. Owned media refers to content that your company owns and controls, including your blog, website, and social media channels. The more owned media a company has, the more visibility it will receive in search results pages for engines. It is therefore important to optimize your own media so that search engines are able to find it and rank it. Paid media includes things such as PPC or social media advertisements and retargeting ads. Earned media is shared content from your customers that could help you build your brand like recommendations via social media or eWOM (electronic word of mouth).
