Paid, owned, earned, hijacked and sold

I do love a good McKinsey Quarterly article, this article highlights the different parameters of marketing for the new age. "Beyond paid media: Marketing's new vocabulary" written by David Edelman and Brian Salsberg challenges the traditional "Paid, Owned, Earned" media mantra by also adding "Hijacked" and "Sold".
Hijacked refers to when a brand has media channels turned against them by citizen journalist, vying for blood, an apology or a back flip. Examples of this are the Nestle or United Airlines viral campaigns that had PR departments scrambling.
Then there is Sold media, this is where a company finds themselves in a position where they can create revenue from selling media space on their website. This revenue model isn't new, but lets say a bank takes the initiative to build a website that will help students find part time work while studying at University. This bank didn't enter into the market to make money off a website, but if they build a large community, the ad space is worth something because it is honed (18-24 year old, education conscious, job-seekers). Now if this traffic gets so strong, other organisations will purchase the adspace for their own e-commerce. E.g University ads for masters courses, head hunters looking for bright part timers and companies seeking interns.
Its another great article and as always the comments section is worth reading
Enjoy

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