Marketers have tried and true methods for measuring paid media against their goals, whether by conversion for direct-response tactics or lift and awareness for branding campaigns. However, until now, brands faced a metrics mess when trying to measure earned media, social media and influencer marketing programs. We help top brands find their way out of this measurement morass by focusing on a new KPI: earned media value (EMV).
As my colleague has said, brand-created, user-generated and influencer-shared posts are nearly always reposted, re-embedded and shared, moving from Facebook to Twitter, then to Instagram and Pinterest, and so on. Each platform’s dashboard provides very limited insights and analytics, and the systems are siloed, giving a limited view of content performance.
Marketers face a herculean task measuring engagement and reach across the range of social networks -- Instagram, Facebook, Instagram, Pinterest, Twitter, et al. The metrics that determine success differ for every brand and for each network. Content and audience engagement, reach and virality are all accounted for on the individual platforms in unique ways, whether by growth in followers, retweets, likes, favorites or shares and reshares. Add to this the myriad ways that branded content gets created and disseminated by influencers, consumers or the brand itself, and the prospect of finding one metric to make sense of it all is daunting to most marketers.
Our clients have found that EMV is the ideal branding KPI for measuring the performance of their visual content in their earned media, social media and influencer marketing programs.
Many brands produce a great deal of content, whether it’s a fashion label posting model and product images on Instagram or a CPG company trying to get engagement for recipe content. Most marketers use a range of channels to get engagement with that content.
The proprietary EMV tools developed by ShareIQ use an AI-based algorithmic approach to focus on the common language across platforms and tactics: impressions. Making them comparable and determining a common value is the basis for calculating the EMV for any brand’s content performance across networks and audience. What’s critical for marketers is having one view of the performance of content by image, channel and creator and versus the competition.
EMV is superior to any of the metrics reported by the individual social media networks, as it combines the most valuable signals to calculate a single KPI. It’s the equation of all of likes and shares and comments on the platforms and it helps you value the activities of each against the other and examine the impressions that matter to your bottom line.