What is earned media value?
Earned media value (EMV) refers to the value of the exposure a brand receives through unpaid channels such as social media mentions, press coverage, influencer partnerships, and word-of-mouth. It is the value of the publicity a brand earns through its own merits and not through paid advertising.
How is earned media different from paid and owned media?
Earned media differs from paid media, which involves advertising and sponsored content that brands pay for, and owned media, which includes content and channels that a brand controls such as its website, blog, and social media profiles. Earned media is essentially organic exposure that a brand receives through the actions and mentions of others.
Examples of earned media
Rothy’s
Rothy’s, a sustainable footwear brand, has garnered significant earned media through press coverage in publications like Vogue and Forbes, as well as through social media mentions from influencers and satisfied customers. This organic exposure has contributed to the brand’s growth and success.
Pura Vida
Pura Vida, a jewelry brand, has leveraged earned media through its partnerships with influencers who promote its products on their social media platforms. This has resulted in a significant amount of exposure and brand visibility without the need for paid advertising.
How to calculate earned media value
There are various ways to calculate earned media value, but two common formulas include:
EMV = impressions x CPM
This formula involves multiplying the number of impressions (views or engagements) by the cost per thousand (CPM) impressions for the particular media channel. The result is an estimated value of the exposure based on industry-standard CPM rates.
EMV = impressions x CPM x adjustment variable
This formula takes into account an adjustment variable, which can be used to reflect the quality or relevance of the earned media coverage. This allows for a more customized and accurate calculation of the earned media value based on the specific context and impact of the exposure.
How to calculate earned media value FAQ
What formulas do you use to calculate earned media value?
The formulas for calculating earned media value typically involve multiplying impressions by a cost per thousand (CPM) rate, with the option to include an adjustment variable for a more customized calculation.
How do you account for the quality of media coverage in EMV calculation?
The quality of media coverage can be accounted for in EMV calculation by using an adjustment variable in the formula. This allows for a more nuanced assessment of the value of the exposure based on factors such as reach, relevance, and sentiment.
Is influencer marketing paid or earned media?
Influencer marketing can be considered a form of earned media, as it involves leveraging the influence and reach of individuals to promote a brand or product organically, without direct payment for the exposure.
Can you calculate EMV for social media and influencer mentions?
Yes, EMV can be calculated for social media and influencer mentions by using the appropriate formulas and metrics to quantify the value of the exposure generated through these channels.
Conclusion
Calculating earned media value is an important aspect of measuring the impact and effectiveness of organic exposure and brand mentions. By understanding the concept of earned media, differentiating it from paid and owned media, and using the appropriate formulas and metrics to calculate its value, ecommerce shops can gain valuable insights into the return on investment of their organic marketing efforts.