For brands, knowing how to calculate your earned media value is a must.
Why? Because it helps you gain a better understanding of how your influencer marketing campaigns are resonating online.
Keep reading to learn the ins and outs of earned media value — plus, how you can find yours with Later Influence’s handy new feature.
Table of Contents
What Is Earned Media Value?
Earned media value (EMV) is a way to quantify the value of all organic (aka earned) exposure your social content and influencer campaigns generate.
From the chatter that followed Rihanna’s Fenty gloss reapplication mid-Super Bowl, to lifestyle influencers’ obsession with Octo Buddy, earned media value is proof that your best exposure is a ripple effect.
FYI: Later Influence is trusted by the top enterprise brands to manage their influencer marketing campaigns — from outreach to tracking performance. Schedule a call to learn more.
Why Earned Media Value Is Important
The most successful influencer marketing campaigns result in an uptick in digital word of mouth (aka earned media value).
By keeping a pulse on their EMV metrics, brands can measure the impact of their influencer campaigns, see how they’re tracking against competitors, and make improvements for lasting growth.
Learn the top influencer marketing KPIs to optimize your campaign performance: 8 Influencer Marketing KPIs to Track for Success in 2024.
What Is the Difference Between Paid, Owned & Earned Media?
When it comes to online media, there are three categories — paid, owned, and earned:
Paid Media = Advertising you pay for (e.g. influencer marketing campaigns)
Owned Media = Content created and published on platforms you own (e.g. your blog, website, and newsletter)
Earned Media = Organic coverage from third parties about your brand, typically as a result of your owned and paid media efforts (e.g. social media mentions, customer testimonials, and press coverage)
Successful influencer marketing campaigns can generate tons of earned media that you can then leverage for owned media content.
Talk about a full circle moment.
How To Calculate Earned Media Value
When it comes to calculating your earned media value, you can do so in two ways:
#1: Use an Earned Media Value Formula
One way to calculate your earned media value is manually via formula(s), like:
Instagram EMV = (likes*value_per_like) + (comments*value_per_comment) + ((impressions/1000)*value_per_1000impressions)
However, this isn’t the easiest way, as it requires a separate calculation for every platform — making it difficult (and time consuming) to track.
That’s where Later Influence’s EMV Calculator comes in…
#2: Use Later Influence’s Earned Media Value Tool
With Later Influence's new tool, you can see your influencer marketing campaign's EMV automatically.
EMV is calculated across Instagram, TikTok, Facebook, and Pinterest and is based on daily benchmark values for social media engagement metrics (comments, likes, clicks, impressions, and shares).
The best part? The daily benchmark value estimates the value of engagements on the day the content was posted rather than a generic value.
TL;DR: Spend more time optimizing your influencer marketing strategy, and leave the calculations to us.
Later's influencer marketing tools let enterprise businesses easily discover their EMV, estimated ROI, and other real-time analytics. Schedule a call today.
3 Noteworthy Earned Media Value Examples
Searching for earned media value in action? Look no further:
#1: Stanley
By the internet’s standards, the Stanley tumbler is the emotional support water bottle of the last few years.
And with a mix of paid and organic content about the brand flooding the #WaterTok hashtag daily, it’s fair to say Stanley owes much of its recent success to earned media value.
Case in point: When TikTok user Danielle shared a now viral video of her Stanley keeping her drink ice cold after a car fire, it generated tons of online engagement (and media coverage).
The cherry on top? Stanley capitalized on the moment by sending Danielle a new cup and replacing her vehicle — generating even more positive brand awareness. Win-win.
#2: CeraVe
While CeraVe gets recommended by dermatologists on and offline, its recent campaign with actor Michael Cera — Michael CeraVe — made the internet explode with equal parts confusion and excitement.
The conversation first sparked with paid posts from influencers like Haley Kalil and Bobbi Althoff that lightly teased the collaboration:
Then, the brand rolled out a Super Bowl commercial to confirm suspicions and mark the end of a successful marketing campaign.
Lesson learned: Sometimes a single campaign is all that’s needed to skyrocket your earned media value.
#3: Later Social
What do you get when a top industry thought leader shares data published by the best social media marketing tool? EMV magic.
Between 26K+ engagements, reshares, and tons of commenters ready to try Later Social, Later's Instagram account also saw a boost of roughly 250 followers thanks to Lucas O’Keefe's post.
Aka, 250 potential new customers in the pipeline who can spread the word!
In conclusion: Your earned media value goes hand-in-hand with your online campaigns.
Now that you know how to track yours, consider your influencer marketing analysis and reporting forever changed.
Top enterprise brands, like Clif Bar & Company, have used Later's influencer marketing platform to optimize and scale their campaigns. Schedule a call for more details.
