Earned Media Value (EMV) quantifies the monetary worth of organic brand exposure from influencer promotions. Calculated by multiplying impressions by CPM, it gauges influencer marketing success, emphasizing the importance of authentic engagement over traditional paid ads.
As an influencer marketer, understanding your numbers and being able to report your campaign impact is crucial. Earned Media Value is one of the most common KPIs influencer marketers use to determine their campaign success.
But what exactly is earned media value, and why is it so important to determine success of your influencer program? Let's dive into the intricacies of EMV, explore how it's calculated, and uncover its profound implications for brands partnering with influencers.
At its core, earned media value provides a monetary estimation of the influencer posts which promote your brand. This can encompass impressions, mentions, shares, comments, and all forms of user-generated content that spread brand awareness organically. Unlike traditional advertising efforts, EMV encapsulates the value of earned media, liberating brands from the confines of paid strategies to discover the genuine appeal and word-of-mouth potency of their offerings.
Curious about how to calculate earned media value? The methodology can vary based on specific goals and industry standards, but at its essence, the earned media value formula involves analyzing the impact of earned media across various platforms and assigning a monetary value to these interactions. The easiest way to calculate Earned Media Value (EMV) for influencer marketing is by multiply impressions with a CPM (cost per mille). CPM is the amount you pay to reach 1,000 people.
Let's take the example of an influencer who generated 2,000 impressions through her story post recommending your product. If you assume a CPM of $15 your EMV would be $30.
EMV = (Influencer Campaign Impressions / 1000) X CPM (cost per mille)
Example: (2000 impressions / 1000) X $15 = $30 (EMV)
As you could argue that an influencer recommendation has a higher marketing impact compared to an paid ad impression marketeers often use a higher CPM to calculate earned media value compared to the CPM on paid advertising channels like Meta for example.
Besides impressions you can also consider other metrics like comments, shared etc. For those seeking precision without the complexity, an earned media value calculator offers a straightforward solution. In fact, our very own free Instagram earned media value calculator represents a pivotal asset for influencers and brands alike, simplifying the estimation process with accuracy and ease.
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Influencer marketing has emerged as a fertile ground for maximizing EMV. With influencer-brand collaborations, the natural and authentic content produced by influencers can dramatically enhance a brand’s earned media footprint. The average earned media value generated through these partnerships often surpasses that of traditional ad campaigns, given the authentic and personal touch influencers bring to the table. Our platform, Influencer Hero, serves as a quintessential influencer marketing platform, offering tools like influencer search, influencer outreach, influencer CRM, UGC collection, affiliate marketing, reporting & analytics and much more. To learn more schedule a free consultation with one of our media experts here.
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Measuring earned media value bestows several key benefits, including:
- Enhanced Brand Awareness: By understanding the reach and engagement of organic mentions, brands can quantify how well they're capturing audience attention.
- Strategic Insight: EMV insights can help fine-tune marketing strategies, spotlighting the effectiveness of content and influencer partnerships.
- Cost-Effectiveness: Knowing the earned media value clarifies the ROI of marketing efforts, contrasting the value of earned media vs paid media and guiding budget allocations more wisely.
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