Tuesday, September 10, 2013

Hints + Tips - MSFW The Debate

MSFW The Debate
Last Tuesday I went along to the Melbourne Spring Fashion Week Industry Day. As part of the day was a debate about paid vs earned media, the title of the debate 'Don't waste your dollars on paid media: earned media is more valuable'.

On the side for paid media was, Sarah Stringer from Carat, Lisa Messenger from Renegade Collective and Rene L'estrange-Nickson from Broadsheet. For earned media was Phoebe Montague of Lady Mebourne, Janice Breen Burns from Voxfrock.com.au and Anton Staindl from Haystac.

The debate was based around where should businesses invest their marketing media dollars? Is paid media better than earned media? Whilst the guests were on the catwalk making their point I took many notes, some of which are below:
  • Grow your own media first, before looking at paid and earned media.
  • Bought media creates brands - as brands can control them
  • Look at multiple platforms for spreading your content.
  • Don't underestimate the power of creativity - capture the imagination of your consumer base both with earned and paid media.
  • When looking at earned media choose a blogger that suits your brand, do your research.
  • Have a reason for creating content not just because.
  • A Scatter gun approach is not suitable, especially with earned.
  • Spend the time and effort on your own media assets. Create something interesting enough for people to want to visit and stay awhile.
  • Follow Sarah Stringer of Twitter at @string_a_ling, she is hilarious! 
After all that where do I stand? Well, where I always have, I believe you need a healthy mix of both paid and earned media. It depends on your product/service and your business. Where and how you spend your marketing media budget has to be in context with what what it is your marketing.

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