Leverage owned, bought and earned media
A global retail study shows that owned, bought and earned media play different roles in purchase consideration, so optimising the mix is crucial, advises Microsoft Advertising's Beth Uyenco.
In 2010, Microsoft and Carat jointly published a global retail study, New Shopper Journeys, which defined the role of different online and offline touchpoints in shoppers' path to purchase. Categories covered were clothing, grocery, fast food, and home electronics in 17 countries, plus a fifth in the US: home improvement centres.
Across all the four retail categories covered, we found a common consumer journey that was less linear than what classic advertising models would suggest. This was a process characterised by frequent reiterations as shoppers sought information from bought, owned and earned media touchpoints.