Online Media Convergence [infographic]

With traditional offline media ad spending and attention decreasing, it is imperative for brands or even entire industries to adapt to changes and develop new marketing strategies in order to benefit from the online media convergence.

Digitization and the economic possibilities of the internet, created high speculations regarding the convergence of offline and online media in the early '00s. More than a decade after breaking down the boundaries between media, telecommunications and information technology, a more focused convergence takes place, this time in online media. 

Segmented into earned, owned and paid media, which in traditional marketing terms are known as word-of-mouth marketing, privately-owned marketing channels and paid advertising, the online media convergence resembles the outcome of synergy through which the effect produced by the sum of the three media types is greater than the effect produced individually by each type.

While the traditional marketing departments are struggling to retain their budgets, the competition with their ever-growing online marketing counterparts seems to be prejudged. Brands need to overcome any branding inconsistency in the digital enviroment and leverage the potential of the online media convergence. 

The infographic below displays the role of converged media in the shifting marketing funnel and provides an actionable framework using the example of the travel industry.   

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25 May 2013,Vangelis Kovaios