Earned Media Value (EMV): a essential KPI in Influence Marketing
Earned Media Value: what is it?
Let’s start at the beginning and define Earned Media quite simply. This concept translates the visibility that a brand enjoys free of charge thanks to consumers, influencers or even third parties. This visibility is ensured thanks to media and formats that allow a brand to benefit from greater notoriety. “Earned” in this context means earned exposure. This is in contrast to purchased exposure through advertising, for example.
Note that there are different “Earned Media”:
- Mentions on social networks,
- Mentions on a forum,
- Mentions on blogs,
- Media coverage,
- Customer comments and reviews,
- Word of mouth
Let’s now return to Earned Media Value (EMV). Technically, Earned Media Value is the sum of the various third party mentions. It can be considered as a data that assigns a value to all the social interactions that have been generated from the publication made by a third party. In the case of Influence Marketing, this third party is a KOL (Key Opinion Leader).
In concrete terms, the EMV is based on the Ayzenberg method to determine the price that a media operation would have been worth if the same impact were to be achieved. The EMV thus makes it possible to calculate the “market” value of publications.
How do you calculate your Earned Media Value?
The calculation of the Earned Media Value uses parameters divided into two categories which are :
- Engagement: this concerns the various actions voluntarily carried out by Internet users around the publication made. It can be the number of clicks on links that appear in the content. It can be about likes, shares, comments, mentions, reactions, etc.
Each of these types of engagement has a variable assigned to it. This can be a monetary value.
- Exposure: this encompasses the range of social media posts in which the brand is mentioned. The content of this scope is often the number of followers, views, impressions, but also the volume of traffic generated. When exposure is high, it is likely to generate more engagement.
The method of calculating the EMV according to Ayzenberg
In order to determine the EMV, you need to use a certified measurement value (index) that gives each commitment its market value. This is the Ayzenberg index. When this index is known, you multiply it by the number of people involved with this action.
Remember that in this case you are looking at the commitments. So let’s take an example. Let’s assume that according to Ayzenberg’s index, a like is worth €0.75 and that a publication has obtained 1000 likes. After calculation, the EMV of this post is equal to (1000 x 0.75 €) or 750 €. This calculation method is then replicated for the different types of engagements that this publication has generated. After multiplying them all by their Ayzenberg values, they must be added together to obtain the EMV of this publication.
Note that values are assigned to each type of engagement by Internet users. In the case of Ayzenberg, the values are assigned to impressions, comments, likes, etc.
Depending on the social network, the different components of engagement differ, as do their indexes. They are also found on other Earned Media such as blogs and others. In general, a distinction is made between :
– the VPL which is the value attributed to a like or a mention
– the VPM, which is the value attributed to 100 impressions
– The VPC is the value of each click
– The VPCO is the value assigned to each comment
It is these different values that are used to calculate the EMV of the different social networks.
For an Instagram EMV, for example, all these factors are generally taken into account. In order to carry out these different calculations as previously explained regarding the
determination of the EMV, it is wise to be accompanied by professionals or technological solutions of Influence Marketing.
Kolsquare allows professionals to meet all their Influence Marketing campaign objectives (branding, acquisition of new customers, etc.) thanks to a catalogue of +1.8M KOLs on +5000 followers in 180 different countries on Instagram, TikTok, Twitter, Facebook and Youtube. This includes identifying relevant KOL profiles, managing an Influence campaign and finally measuring the performance and results of a campaign. Apart from Instagram, Facebook, Twitter and Youtube, Kolsquare customers can now know the EMV of each of their Influence campaigns on TikTok to understand the impact of their brands on the social network.
EMV and then: which KPIS for your campaign?
To know the impact and performance of an Influence Marketing campaign, the EMV is not the only indicator to take into account. In the context of an Influence project, other KPIs can help you to make decisions and better conduct your marketing strategies. It also allows you to analyse your return on investment more effectively. Other key indicators to know and analyse include:
This is an important factor to consider when choosing an influencer for one of your marketing campaigns. Indeed, you must take into account the engagement rate of an influencer on the different social networks and that of each of his publications. At the end of an influencer campaign, you should measure the engagement rate of the post related to your brand. This will help you know if your partnership with this influencer has really engaged their community and met your strategic objectives. In other words, it’s about knowing if your collaboration with the influencer was effective or not. Want to know more about the engagement rate on Instagram? Check out our article on the subject now.
When your marketing action is aimed at generating sales, one of the most appropriate key KPIs is the return on investment (ROI). It brings together the cost of the campaign and the benefits that have been generated. ROI is most clearly the indicator that allows you to measure how much each euro invested has generated in terms of sales. This indicator can be obtained as a percentage or as a multiplier. The formula is as follows: ROI (%) = ([gain after investment – amount of investment] /amount of investment) x 100.
This is also one of the key KPIs for evaluating an influencer marketing strategy. One of the main objectives of this strategic lever is to increase brand awareness and, in turn, to increase your user community. The traffic generated to your brand’s website is the element that allows you to know the number of Internet users who are interested in you. Tools such as Google Analytics allow you to evaluate this performance of your campaign. To find out how many people are visiting your website, you’ll need a link tracked from a UTM (essential in your Influencer Marketing campaigns to understand which KOL has given you a traffic spike or not). Other information such as the number of pages visited and the average time of a session will then be available to you.