Updated: May 15, 2022
Owned media refers to assets under your control and comprises both channels and platforms. Channels include social media, email marketing campaigns, apps, virtual reality, and more – while platforms refer to the channel hosts, e.g., Facebook, Instagram, PlayStore, etc. For example, your business could be using Instagram to interact with its clients and receive orders. That’s an example of owned media because you control the interactions. Other forms of media include paid media and earned media.
Assessing your progress in getting the most out of your owned media is integral to your content marketing strategy in line with your marketing plan. And the best way to analyze your success is by involving your entire team from the start. Please note that this assessment works better if you know and track your KPIs. Without these indicators, you have no way of telling if you are doing well or not.
How To Conduct a Successful Self-Assessment
It’s not easy to point out where you have fallen short. But doing so motivates you and your team to work even harder. Here are the questions you must answer:
Are you in line with your KPIs? For example, if the goal was to hit 50 sales each week and you have been hitting 40, you are behind. So, what can you do about it?
What type of media are you using to reach your target audience?
How has your target audience reacted to these channels? Are they interacting with you? To analyze this, you must have analytics set up. For example, Instagram has built-in analytics for its stories, posts, reels, etc. And these show you how many people you reach and how much they engage with your content.
Has your target market left feedback on these channels?
Have you made any changes to your content marketing strategy and marketing plan to align with the feedback from your target market? Have these changes affected the analytics?
Evaluating Your Owned Channels
Be honest when answering these questions and allow everyone to give their input. As you do so, delve into a SWOT analysis of your channels, focusing on:
The weaknesses in your channels: For example, your channel could have a low reach into your target market because of your low budget, poor target market presence, etc.
The strengths in your channels: Do your channels offer you any opportunities to scale your marketing plan? Take the example of social media ads. You can hike your budget, reach a broader demographic, incorporate various marketing tools, etc. Can you see such opportunities in your channels?
Can you gauge what your target audience wants? And how can you use it to better your content marketing strategy?
What tools can you use to understand your target consumers better to get the most out of your channels?
Keep evaluating your progress in line with your KPIs. And if you don’t already have these in place, please check out how you can come up with SMART goals for your business.
Download your Self-evaluation template today.