Owned vs. Paid Media
Finally, A Powerful Way to Increase Customer Lifetime
Value Without Emptying the Bank Account!
Summary: See why this Customer Relationship Building Method has won praise from businesses all over the world…
Inspiring facts – “Revenue from mobile commerce is predicted to reach $432.2 billion by the end of 2022. In the last six months, 62% of smartphone users made an online purchase via the device.”*
These are truly staggering statistics. If your business isn’t excelling online yet, it can seem daunting.
Experts predict text and email marketing will continue to be pivotal communication channels through 2030!
Yet, the irony with many digital marketing agencies is that while they’re supposed to be promoting your business – they’re robbing you.
It’s COSTLY to buy customers from ad networks like Google and Facebook. What’s worse, you don’t own the customer’s data – the ad networks do.
AND… If you want to reengage them after your initial touch point, you have to pay again.
There’s a way to help you avoid getting ripped off by shady ad networks and agencies!
With advertising costs at an all-time high, one service is quickly becoming the most sought-after marketing approach of 2022.
Meet The Next Generation of Customer Relationship Building
It’s called ‘Owned Media.’
It’s the smartest way to market your business.
‘Owned Media’ refers to marketing assets that belong to you, like your customer list and website. You literally Own it.
‘Paid Media’ is what most marketing agencies recommend. It is media you pay for like pay-per-click ads on Google or interruption marketing on Facebook or Instagram.
Paid Media is complicated and difficult to evaluate.
Owned Media is like having a Well on your property. You can get water any time you want and you don’t have to pay anyone.
In exactly the same way, you can get access to your customers any time you want, using email.
Paid Media is like a Fire Hose. You can get water, but you have to pay for it.
Clicks are available. They will ALWAYS cost you money. The quality is ALWAYS questionable. You never really know where that water is coming from and what’s in it…
But what really makes the Owned Media stand out is this:
“Companies have a 60-70% chance of selling to an existing customer vs. a 5-20% chance of selling to a new customer.”*
The best part? It’s easy and less expensive to build your Owned Media assets.
But that’s not all…
Owned Media can be highly personalized to individual users.
What does that mean?
An easy example is Abandoned Cart Emails. When a prospect starts checking out online but abandons midway through the process.
An automated email is triggered to remind the prospect to complete their purchase. The message dynamically includes the item they left in their cart.
It might look something like this:
Abandoned Cart emails and text messages are dynamically produced based on what the customer was looking at when they got distracted.
That red sweater stands out as something special when it appears in an email or text message.
The user feels an affinity that someone took the time to remind them of their purchase.
These emails can be combined with offers to further motivate buyers to get off the fence.
This means you can create emails and text messages based on what someone did or DID NOT DO.
Follow-up with messages to motivate them – at only a fraction of the cost of acquiring a new customer.
Owned Media is truly a game changer.
The Well vs. The Fire Hose
Owning your customer data is like having a Well that you can dip your bucket into whenever you want, drawing out relationships and the goal of any business: income.
Relying on paid media is like having to fill your bucket with a Fire Hose. It’s expensive and every time you want more water, you have to go back to The Fire Hose. It’s a strategy used by businesses that need to put out fires. 🔥
Paid media are Google Ads, social media ads, and traditional media such as television, print ads, and billboards.
According to Pew Research, “92% of adults who are online use email.”*
Once a business has permission to email or text you, they can build a relationship with you. You get added to their Well.
Brands can communicate with you for almost no additional cost, as often as they want, directly to your inbox or text messages.
If a business wants more sales from Paid Media or The Fire Hose, they have to pay (and deal with the quality issues).
Additionally, they have to pay someone to manage it, as paid media tends to be a specialized skill set. They have to pay someone to hold your Fire Hose…
More on that later…
What Else is in The Well?
“Nearly 70% of people open a new text message within five minutes. And over 90% check their new text message within 30 minutes.”*
Text messages get opened. No other marketing messages are as close to your customers – at all times.
Think about it, when was the last time you got a message from a brand that you didn’t open?
Text message marketing is in The Well.
Once a brand gets permission to send messages, they do not need to go back to The Fire Hose to pay-to-play. As long as consumers are treated with respect, they have unlimited access. They own it.
Does Facebook ads, billboards, or Google ads get to contact you over and over? No.
The Fire Hose is limited. You have to pay to turn on the hose, every single time…
Text messages and emails connect with customers when they are checking messages.
They are answering the question, “Who wants to hear from me?”
Text messages and emails are personal. Like a message from a loved one, they arrive in a space that demands reverence and respect.
They come from a Well of goodwill. If brands cultivate goodwill, they can reengage with people in an intimate way.
The Hidden Benefit of The Well
“80% of consumers are more likely to purchase from a brand that provides personalized experiences.”*
A Facebook ad can not say, “Hey Bill! We know you like chocolate peanut brittle, so you better take a look at our new dark chocolate peanut brittle!”
This level of personalization is only the tip of what’s possible with Owned Media.
When someone joins your marketing list, you can ask them what problem they are trying to solve. Ask them what they are looking for. Ask them what they want to buy…
In real life: A construction company’s website has a pop-up box that offers a gift bag in exchange for a 30-minute in-office meeting. On the form is a short survey.
“Tell us what you want to talk about:”
- New Home Construction
- Home Remodeling
- Commercial Construction
- Commercial Remodeling
A few minutes later, your Owned Marketing machine adds them to your Well and sends an automated message about Commercial Remodeling.
READ: Ask them what they want and then give it to them right away.
Give the customers what they want and leave everything else out. They don’t want to learn about new home construction.
The same is true for the chocolate company.
“What do you wish you were eating right now?”
- Milk Chocolate
- Dark Chocolate
- White Chocolate
- Vegan Chocolate
- Non-Chocolate Sweets
Prospects are added to the Owned Media marketing lists and ONLY given information about their preferred treat.
The messaging is ONLY about what they want to eat.
Down the Rabbit Hole (The Well)
In 2022, a basic level of marketing personalization is assumed.
“63% of consumers will stop buying from brands that use poor personalization tactics.“*
Gone are the days when brands could get away from starting an email, “Dear friend.”
We expect a higher level of respect.
When you show up at the barber shop you have frequented for ten years, you expect them to greet you by your first name, to know what haircut you get – at the very least…
We expect the barber to know that about our two kids, one of which is playing football in high school this year. We expect the barber to ask us how they are doing, and how football is going.
In exactly the same way, Owned Media helps brands personalize interactions, similar to the local barber.
Innovations in personalization allow brands to address the needs of consumers while still remaining discreet.
Quizzes, polls, and surveys allow brands to grow their Owned Media lists while building a treasure trove of information about what problem each customer is trying to solve.
The dating coach quiz asks, “Are you Attracting the Right Type of Partner?”
Every answer becomes a data point that is fed back into the Owned Media Well. Every future message can be tailored based on what that person is struggling with, and what they want.
If they are confident, but talk too much, they won’t get emails about how to be more confident when dating.
They will get emails about how to become better listeners.
But Wait, There’s More…
“Sixty-one percent of SMBs report that more than half of their revenue comes from repeat customers, rather than new business.”*
Personalization can include emails based on what customers have bought, which allows you to know what to recommend they buy next. It also allows you to track the average time between purchases and send them an email at the exact right time…
“Hey Bill, It looks like you are about to run out of the pills that make you really, really ridiculously good-looking… If you order today, we can have them to you in two days… Click here to order.”
How about a post-purchase campaign educating the customer on how to use the product? No brainer.
What about post-purchase cross-sell campaign, “Most customers who buy dog treats LOVE our doggie Sleepy Time Bars, click here for a discount – expires tonight!”
“It can cost 5x more to acquire new customers than to keep current ones.”*
Do you want to go to The Fire Hose every time you need new customers?
OR do you want to cultivate personalized relationships with customers that get everyone what they want?
Give them what they want.
They want a solution to their problem. You provide it. If you don’t do that, no amount of advertising can help you.
In return, you get what you want from your customers: positive reviews, lifetime friendships, and most importantly REVENUE.
The Hidden Costs of The Fire Hose
Paid media is like a Fire Hose. Website traffic can be turned on and off with the push of a button.
But like any kid who has ever played with a hose knows, if it gets away from you, it can flop around and cause unbridled havoc.
If you have ever advertised on Google or Facebook, you know that the hose can get out of control in a heartbeat.
Turn it on and pray it doesn’t go crazy or get no results.
Not a great strategy.
That’s not all there is to worry about with Paid Media.
- Rising ad costs – Facebook’s prices have increased 61% and Google’s have increased 75%.
- Privacy concerns – People are leaving Facebook due to privacy breaches.
- Limited targeting options – As a result of the privacy debacles, targeted ads are limited – iOS 14 killed cookie tracking.
- Management fees – Ad agencies can easily bill $4,500 to $10,000 per month – PLUS a percentage of advertising spend.
This affects everyone who wants to advertise online.
It is not uncommon for brands to discover that the best a digital agency can do is break even. For example, if their product sells for $20, it might cost $15-20 to acquire that sale.
That doesn’t even take into account the management fee.
Owned Media is not the same game. Once a brand acquires someone’s email or SMS, they don’t have to pay for it over and over.
Dip the bucket into The Well and start a new conversation with the people who already trust you.
You’ll Be Amazed at What Owned Media Can Do For the Bottom Line!
Can Owned Media replace a salesperson?
How much would it cost you to hire another salesperson? What would it cost to put another set of boots on the ground to push your product?
A normal B2B salesperson would cost $60k in salary, plus commission, say another $40k. Then you have the training and recruiting costs, payroll, benefits and taxes, and information technology costs, easily pushing into the 200k range.
Can email and text message marketing replace that cost?
Let’s be honest, very few things are better than a great salesperson. But they are rare, like unicorns, and often as hard to control.
Owned Marketing and The Well might not be able to beat a great salesperson, but it can absolutely rival a handful of mediocre salespeople.
What would you say to $644k in sales from email in text messages in a year at a cost of about $40k? Does that beat a salesperson?
But wait, there’s more…
More Reasons to Want Owned Media!
✅ Works with almost any business – Need customers? Send more personalized emails and text messages.
✅ Easy Set up – Email and text message marketing is easily set up. Automations can be configured once and updated once a quarter. Campaign emails can be planned a year in advance! Your in-house team can be trained to send email! Have you EVER heard a Paid Media agency say that?
✅ It’s in the Bag (or pocket) – Email and text messages are in your customer’s most important place, in their pocket or in their bag.
✅ It’s creative – Your messages can tell the brand’s story. It is a new opportunity to tell your story with every email. Be creative.
✅ This time it’s personal – Create custom messaging based on what your customer does (or doesn’t do).
✅ It’s Permission marketing – Give members of your list the opportunity to control how often they receive emails and texts from you. Give them the power. You won’t regret it.
✅ Behind the scenes – Your brand’s promoters love you. Give them a special invitation to peek behind the curtain and experience your brand from the inside.
✅ Build Actual Relationships – The goal is not to automate every interaction, it’s to build relationships so customers can know, like, and trust you. Connect, like a human.
One thing is for certain, once you try Owned Media and drink from your own Well, you will want to send more email and text messages, guaranteed.
Start Using Owned Media In 4 Easy Steps
It’s really easy to set up. Just:
1.) Set up a meeting with our team2.) Choose a goal3.) Establish a plan with our team to work backward toward your goalThen start sending emails and text messages!
Measure, optimize, and iterate.
Some Questions We’ve Had
Q: Isn’t email dying?
No, “92% of adults who are online use email. That compares to just 79% of internet users who have a social media profile. There are more people using email than using social media.”*
Q: Is it complicated to set up?
No! We can set up your automations and teach you to use them. We can also show your team how to send campaigns or we can do it for you. There is no ‘magic’ in email like the Paid Media guys want you to believe about running ads.
Q: What do I get when I sign up with you?
It depends. We customize a package specific to your business. It’s like anything else. You can have the bare-bones version or you can have the hands-off, done-for-you version.
People Are Raving About Us and Our Owned Media Programs:
“Brian and his team completely saved our business from going under, made us piles of money, and best of all, we have actual relationships with a group of raving fans. If he wants to work with you, jump at the chance. You won’t regret it. If you want to hear it from me, reach out.”– Lynda – Owner, Poppy’s Chocolate
“We have been in business since 1997. We have tried everything to make sales online. Brian and his team are the only things that consistently deliver profitable revenue.”- Jon, Sertodo Copper
How Much Does It Cost?
Businesses need a software system to collect and send emails, like Klaviyo, Mailchimp, or Constant Contact. Email marketing systems go for $25 and up, based on how often you send email and text messages and the size of that list. Compared to the return on investment, this is a cost that most businesses are happy to incure.
If you want someone to manage your email and text messaging system, imagine what it would cost you to hire someone internally to manage it. Don’t forget to add in the cost to train them. You would have to hire someone or send them to a special training program. It could cost you a lot. An employee to manage your email marketing could easily cost $3,000 per month.
If you hire an outside specialist, you could be easily spend $3,000 to $10,000 per month.
But we don’t work like that…
We don’t charge anything before we agree to work with you.
We do a one-month, free trial.
We get to work with your business and you get to know us.
At the end of the first month, everyone wants to keep going, we see if we can make it a win/win for everyone.
If we can’t, we part ways as friends.
Sure, but what does it cost, really?
You don’t run a business without wanting to know the real deal. We get it. We don’t want to waste our time or yours.
Short answer, it depends. We offer a number of different payment arrangements. It depends on what will be a win/win for you and us.
- Monthly retainer – We have retainers as low as $500 a month and as high as $3,300 per month.
- Hourly – Our current hourly rate is $67 per hour.
- Percent of income – We have revenue share deals ranging from a percentage of revenue generated by email to a percentage of quarterly profit.
- Creative – We are always open to discussing ways to make life better for everyone.
NOTE: We hate quoting prices because it’s not about that. It’s about seeing if we can add real, tangible value to your business. If we can do that, then we work with you to come up with a pricing structure that fits your business model. If we can’t help you, we will tell you! We do it a lot!
We don’t work with everyone. If you sell something that has a low margin, is very cheap or low quality, doesn’t have a product-market fit, or is against our principles, we will kindly decline.
Should I Get Started Now Or Wait?
The time to get your Owned Media Well set up is now. Our free trial won’t last long. It’s the easiest way to turn your contact list into income. No need to rely on expensive paid media campaigns from The Fire Hose.
What Do I Do If I Want to Learn More?
Pew Research -https://www.pewresearch.org/internet/2011/08/09/search-and-email-still-top-the-list-of-most-popular-online-activities/