What is Earned Media Value?
Earned Media Value (EMV) is a way to measure the value of publicity gained through word-of-mouth, social media mentions, or other forms of organic promotion rather than paid advertising. It helps businesses understand how much their marketing efforts are worth when they get free coverage.
Why is Earned Media Value important?
Understanding EMV is essential for several reasons:
- It shows the effectiveness of your marketing campaigns.
- It helps you compare the value of earned media to paid advertising.
- It provides insight into audience engagement and brand reputation.
How can you calculate Earned Media Value?
Calculating EMV can be done in a few simple steps:
- Identify the media mentions, shares, or reviews you have received.
- Estimate the cost of reaching that same audience through paid ads.
- Add up the values to find the total EMV.
What are some examples of Earned Media Value?
Here are a few examples to illustrate EMV:
- If a popular influencer shares your product on their social media, that mention can create substantial earned media value.
- When a news outlet features your service in an article, the publicity can lead to many new customers without paying for that exposure.
- Positive customer reviews on platforms like Yelp or Google can also contribute to EMV, as they encourage new customers to choose your brand.
In summary, Earned Media Value is a useful metric for businesses to track how effective their marketing is without the direct costs of advertising, helping them make informed decisions about their strategies.
