What Is Paid Media and Why Is It Important?
Paid media in its simplest form is an ad placement, paid for by advertisers. These ad placements can be bought across a variety of channels and platforms and are grouped as Traditional media (TV, radio, outdoor billboards), and Digital media like Google search network, Facebook and more.
Paid media is an integral part of any advertising strategy. It is important for driving awareness (launching a new product, website), acquisition (ecommerce, sign-ups) and retention (upselling, cross-selling to existing customers).
Most advertising campaigns span across traditional and digital media channels and platforms.
With advancements in technology and the rise of big data, most channels and platforms can target users at an increasingly granular level, like location, interests and so forth. This is especially true for digital media.