Investment in earned media increased significantly in 2023 – similar increase expected in 2024

The Fall 2023 report marks the sixth year of analyzing the marketing efforts of brands on the Forbes Top 2000 list, and we see big changes. Most notably, of the nine different marketing categories comparing year-to-year changes, media acquisition rates jumped from 34.6% in 2022 to 70.1% in 2023. This category examines the extent to which companies capture earned media through public relations personnel and senior leaders who act as spokespeople. Content you own.

MET data has shown continued investment in brands’ websites and other digital assets over the years. However, the 2023 results show that more brands are leveraging earned media for broader marketing purposes. For example, in addition to including references in the “News” section of their website, we have seen brands highlighting high-value mentions on their homepage. This is important because earned media can increase awareness, increase brand credibility, and increase the chances of converting potential customers who visit your company’s website.

“Earned media is an invaluable part of brand building because it creates third-party recognition through unbiased endorsements and organic conversations,” says our colleague, VP of Consumer at Team Lewis Stephanie Pruce says. “Not only does it foster trust, it also propels your brand beyond traditional marketing tactics and establishes a lasting connection with the media and its readers.”

Earned Media in 2024

Brands’ increased focus on earned media is expected to continue into 2024. A well-thought-out earned strategy can improve your SEO, digital marketing, and social media results. This also serves as an important tactic to counter the decline in corporate trust seen in areas such as technology. As trust in your organization declines, earned media is the best way to re-establish trust with your prospects and customers.

Another finding from MET Media data is a significant year-over-year increase in brands investing in their own thought leadership research. Though a costly and time-consuming endeavor, thought leadership research and the resulting proprietary content is a highly effective way to educate your audience. This shows that you understand the issues your brand is facing.

“In the vast marketing landscape, thought leadership content is more than just a sign of expertise; it is the foundation of a brand’s influence. This ownable content elevates a brand’s story and unlocks earned media opportunities. Therefore, that cost translates into an investment in fostering authentic conversations, which builds lasting connections and ultimately leads to redefining the narrative landscape in favor of brands. ” said Prose.

Evolving marketing mix

However, there are signs that trade-off effects occur across the marketing mix.

We expect companies to continue investing in their media efforts in 2024, but it’s important not to become too narrow in focus. Therefore, while a company’s website grows larger and includes more targeted content, there is a risk that the website’s UX and performance may decline. High reliance on new MarTech suites and increased reliance on APIs for data access can create a blind spot for external cyber threats.

Additionally, innovation and exploration must emphasize marketing efforts to keep pace with ever-changing audience behavior.

“In 2024, it will be critical to embrace earned media relationships as a constant in your strategy. But the real game-changer will be in taking a comprehensive, full-funnel approach,” said Prose. I am. “Brands should consider allocating funds to traditionally overlooked areas of marketing investment. This includes immersive and experiential campaigns, interactive content, and collaboration with content creators. These areas not only increase visibility but also ensure meaningful engagement at every stage of the customer journey.”

So let’s take a quick look back to understand where we’re headed.

The 2022 Met revealed fears of a looming recession among brands. In reality, brands were more resilient than expected, as the latest data shows. 2024 will bring new and unique challenges, but continued investment in a complete marketing mix will strengthen these challenges and lead to greater rewards.