Beliefonomics highlights the critical role media channels play in amplifying a brand's story and fostering those pivotal "Belief Moments" that can sway customer perception and behaviour.
It includes a framework called the Channel Journey, urging businesses to carefully consider which channels best suit their objectives and target audience.
Notably, it's not about utilising every available channel, but rather about selecting the most effective channel for a particular stage of the customer journey and refining the storytelling approach within that specific medium.
Let's explore the four primary media channels discussed in the book:
Earned Media
This encompasses traditional media outlets such as newspapers, television, radio, magazines, and their online counterparts. Earned media's effectiveness hinges on understanding the beliefs and biases of both the media outlets and their audiences. For instance, pitching a story about the environmental benefits of a new product might resonate more strongly with a publication known for its environmental advocacy. So careful consideration of these nuances is needed to maximize the impact of earned media outreach. Ongoing innovations in this sphere, such as AI-generated content and interactive live streams, indicating an evolving landscape.
Shared Media
This refers to social media platforms where content is rapidly disseminated and consumed. Challenges remain inherent in building a brand presence on "rented land" – platforms owned and controlled by third parties. Be careful about over-investment, instead focus on a strategy that prioritises building an email list to maintain a direct line of communication with customers. Meanwhile, stay connected to the evolving landscape of influencer marketing and adopt a strategic approach that involves careful vetting, platform-specific strategies, and a focus on collaborations that provide measurable value. The dominance of paid social media is also discussed, emphasising the need to factor in paid campaigns to achieve significant reach and engagement.
Owned Media
This category encompasses any media channel directly owned and managed by the brand, such as company websites, blogs, newsletters, events, podcasts, and even brand-funded documentaries. The book underscores the significant growth of owned media, particularly within the realm of content marketing. It highlights successful examples of brands leveraging owned media to tell compelling stories, such as Patagonia's use of documentaries and Vans' creation of engaging video series on their respective YouTube channels. The book also champions the potential of owned media to cultivate deeper customer relationships by providing a platform for authentic storytelling that goes beyond traditional marketing messages.
Paid Media
This encompasses all forms of advertising, ranging from traditional print and broadcast media to digital display ads, paid search, and paid social media campaigns. The book emphasises the importance of a holistic approach that integrates research, creative execution, media buying, and robust measurement. It discusses the growing emphasis on demonstrating a tangible return on investment, with marketers increasingly focused on connecting paid media efforts to concrete outcomes like website conversions and sales. Additionally, the sources note a renewed interest in long-term brand building through paid media, suggesting a shift away from the solely short-term focus often associated with digital campaigns.
Taking action
Beliefonomics ultimately advocates for a strategic approach to media channel selection, driven by a deep understanding of both the customer's Belief Journey and the organisation's Brand Journey.
By identifying the target audience's current beliefs and their position within the Belief Journey framework, and then aligning those insights with the most compelling aspects of the brand's story, businesses can choose the most impactful media channels to tell their story.
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