What is Earned Media Value (EMV)?
EMV stands for Earned Media Value which is the estimated value of content earned in the digital marketing space - so this doesn't come either from paid media (advertising) or owned channels (your website). It's basically your online word of mouth!
Why is EMV useful for your influencer marketing campaign?
If you run gifting campaigns or invite influencers to launch events, how can you measure the marketing ROI from the social content created by influencers at no charge, other than the cost of the product provided?
This is where EMV can really help you understand the impact of this free social content - and help guide future strategic marketing decisions!
How to track EMV on Dyzio
Dyzio now enables you to easily track and report an Impression EMV or Engagement EMV, at both the influencer and campaign level - and then it's just one click to share the EMV report with your colleagues or clients.
This is what you need to do:
Set the Impression & Engagement CPM values for each campaign.
View the EMV report from the campaign dashboard.
Share the EMV report with colleagues or clients.
Easy, right? Let's look at this in more detail!
Report Settings
The first step to take is adding some details to the 'Report Settings' tab - which is in the top bar menu 'Settings' within your campaign.
Impressions CPM
CPM (cost-per-mille) - or Cost per Thousand Impressions - is the price you would pay to receive 1,000 impressions, which can be based on your known digital media rates, or analysing previous paid influencer campaigns. You can then calculate the Impressions EMV by multiplying the Impression CPM by the free impressions delivered / 1,000.
Engagements CPM
If your main objective is to measure the engagement triggered with the social media content created within a not-paid campaign, you will need to set an Engagement CPM, based on your prior marketing data - then multiply the Engagement CPM by the free engagements delivered (likes + comments) / 1,000.
I/E Ratio
If the influencer has not authorised, Dyzio can estimate their impressions
for you based on ratio. A typical value would be around 10.
2. EMV report
Press 'Save Campaign' and view the EMV report from the campaign dashboard.
This is how the EMV report looks like:
Please note that for the influencers who have not authorised, Dyzio will estimate their impressions. This is marked with a different colour on the report.
3. Share the EMV report with colleagues or clients
You can easily share your EMV report with colleagues or clients externally to Dyzio by clicking on 'Copy link'. You can also download the report.
If you’d like to see how easy it is to create and automatically track the Earned Media Value from your influencer activities, please click here to book a demo.