Earned Media Value (EMV) is a performance metric that quantifies the value a brand can expect to gain from third-party promotions and organic media mentions that it has not paid for. This includes user-generated content (UGC), public relations coverage, customer reviews, and other forms of unpaid exposure, both online and offline.
By calculating EMV, brands can justify investments in public relations and social media strategies, assess their marketing activities' return on investment (ROI), and optimize future campaigns.
EMV can be calculated using several methods, but there are two standard formulas.
Basic Formula: EMV = Impressions×CPM×Adjustment Variable where CPM represents the cost per thousand impressions.
Comprehensive Formula: EMV = (Impressions+Reach) × CPM + (Likes+Comments) × CPE where CPE is the cost per engagement. This formula combines exposure and engagement metrics to provide a more holistic view of earned media value.
Media types contributing to EMV include customer reviews, mentions in articles or blogs, social media posts from influencers or customers, free press coverage, and any other organic content created by third parties about the brand.
EMV serves as a key performance indicator (KPI) in influencer marketing, quantifying the impact and performance of influencer campaigns. It allows brands to measure the value generated from earned media reach and compare it with previous campaigns to optimize future strategies.
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