Paid media includes all the type of media that you pay for like Google AdWords, Social Media and PPC campaigns, etc. It is a great way to promote content in order to drive traffic to your website and build brand awareness. You get more exposure and you can also pick the demographics of the audience that you want to reach out to.
Paid media activities need to be extremely well planned and executed. You also need to have compelling call-to action buttons so as to increase traffic and/or conversions. Paid Media activities go hand-in-hand with SMM.