Effects of Owned and Earned Social Media and Paid Traditional Media on Consumer Mind-Set Metrics and Acquisition

This research provides insights into the effects of both owned (i.e., firm’s social media platform) and earned social media (i.e., consumer-initiated interactions with the firm on other social media sites) as well as paid traditional media on consumer mind-set metrics and acquisition. Results of the vector autoregressive model show that owned and earned social media explain a substantial part of the mind-set metrics and acquisition. Owned social media affects awareness in the short-term. Earned social media affects awareness and acquisition in the short- and the long-term, and preference in the long-term. firms can directly influence owned and earned social media by their traditional media expenditures. Results also show that owned and earned social media and paid traditional media are both complements and substitutes.