Earned media value (EMV) is like a special way to measure how much people are talking about a brand. It helps us see how much attention a brand gets from the news or social media. Let’s learn more about earned media value in this article.
Imagine there are two ways a brand can stand out enough to be noticed. One way is by paying for promotions, similar to when you see ads on television. The alternative way is acquired media, which implies the brand gets seen because individuals like what it does, not because it pays for it. Thus, if a brand has great items or cool things, it could wind up in the news or via online entertainment since individuals need to discuss it, not because they paid for it.
Earned media value (EMV) resembles giving a cash worth to how much individuals discuss a brand in the news or via virtual entertainment. It assists us with understanding how significant a brand is by looking at how much consideration it gets from everybody.
Before we learn about the key factors of earned media value and explore ways to measure EMV in businesses, let’s first understand the nature of earned media value.
What is earned media value?
Earned media value (EMV) resembles sorting out the amount it would cost if a brand needed to give all the consideration it gets from individuals discussing it. We see things like how often individuals see it, share it via virtual entertainment, and say they like it. Imagine if the brand had to buy ads to get the same attention – EMV helps us guess how much money that would be. It uses special math and tools to give us a number that shows how well the brand is doing in getting noticed by people.
Earned media is special because it’s like when people talk about a brand because they really like it, not because they have money to say good things. This makes it more real and trustworthy for customers. When newspapers, famous people, or happy customers say good things about a brand without being paid, it makes the brand look good to everyone else. So, earned media is like a measure of how much people genuinely like and talk about a brand, showing how well it’s doing in making customers happy and loyal.
Checking EMV (earned media value) helps businesses see how well their special events or new products are doing. It’s like taking a gander at the consideration a brand gets previously, during, and after something significant. This assists organizations with sorting out whether or not their arrangements are working or on the other hand assuming they need to change something. They can likewise contrast with different brands to see who’s improving on the lookout and choose how to remain serious. EMV is like a tool that helps businesses make smart decisions using information about how much people are talking about them.
What factors contribute to earned media value?
Earned Media Value (EMV) is like a score that shows how much people are talking about a brand. It depends on different things that decide how important and valuable a brand is when people talk about it. Businesses need to know about these things to plan to talk about the brand better and smarter. So, understanding these factors is important for companies that want to make their brand known and liked by many people.
- Media reach and impressions
- Engagement metrics
- Influencer impact
- Sentiment analysis
- Media type and source
- Trend relevance
- Geographic considerations
- Quality of content
- Time and context
Media reach and impressions:
The number of individuals that see or catch wind of a brand in the news or on the web influences how significant it is. Assuming loads of individuals are familiar with the brand since they heard or read about it, then it’s more significant. We can gauge this by taking a gander at how often individuals see or read about the brand – that is the very thing we call impressions. Thus, the greater the crowd, the more significant it is for the brand.
Engagement implies how much individuals like and collaborate with the things they see or read about a brand. At the point when individuals offer, as, or remark via virtual entertainment, it shows that they truly like the brand. The more individuals do these things, the better it is for the brand since additional individuals will be aware of and trust it.
If famous individuals or specialists discuss a brand since they truly like it, it makes the brand more significant. These individuals are called forces to be reckoned with, and they have loads of adherents. In this way, when forced to be reckoned with complimenting a brand, it helps a great deal on the grounds that many individuals trust and pay attention to them.
The feelings people have when they talk about a brand in the news or online are really important. If they say good things, it makes the brand more valuable. But if they say bad things, it can make people think the brand is not good. So, it’s important for a brand to have positive talk and not negative talk to be seen as valuable by everyone.
Media type and source:
It matters where a brand is talked about and who talks about it. If famous newspapers or reporters talk about the brand, it makes the brand more valuable. Also, different types of media, like articles, interviews, or reviews, can make people think different things about the brand.
On the off chance that a brand is discussed and it fits with what’s well known or being discussed a great deal, it can make the brand more important. In this way, assuming that the brand is associated with what individuals are keen on at the present moment, it’s great since additional individuals will focus on and like it.
For businesses in certain areas, individuals should get to know and like them. At the point when the news or tales about the business are centered around that area and associated with individuals who live there, it makes the business more significant. Thus, assuming that the business is discussed in a way that is important to individuals close by, it’s truly great for the business.
Quality of content:
The stories and pictures about a brand in the news or online need to be interesting and special. When the stories are well-told, with cool pictures and overall good quality, more people will like and pay attention to them. So, having really interesting and well-made content makes the brand more valuable.
Time and context:
When individuals discuss a brand in the news or on the web, it’s critical that it occurs brilliantly and fits with what’s happening. Assuming it’s discussed when it makes a difference and checks out with what individuals are now referring to, it makes the brand more significant.
How can businesses measure earned media value?
It’s really important for businesses to measure how much people naturally talk about their brand (EMV). This helps them see how well their public relations work and how much people like their brand without paying for ads. There are special ways and tools to figure out and understand this measure.
- Impressions and reach analytics
- Social media metrics
- Influencer marketing platforms
- Sentiment analysis tools
- Cost per impression (CPI) calculations
- Brand monitoring services
- Attribution modeling
- Survey and feedback analysis
- Comparative analysis
- Customized EMV formulas
Impressions and reach analytics:
Use tools like Google Analytics, social media insights, or other special tools to count how many people see or read about a brand in the news or online. These tools help businesses know how many people know about their brand.
Social media metrics:
Keep an eye on social media for things like preferences, offers, remarks, and retweets to perceive how much individuals are keen on and communicate with the brand. These numbers help comprehend assuming individuals truly like the thing’s being said about the brand.
Influencer marketing platforms:
When influencers talk about a brand, use special platforms to see how well it’s working. These platforms can tell us how many people saw it, how much they liked it, and how much it helped the brand. It helps businesses understand if working with influencers is making the brand more popular and liked.
Sentiment analysis tools:
Use tools that can tell if people are saying good, bad, or just okay things about the brand in the news or online. Knowing how people feel helps understand if the brand is making a good impression.
Cost per impression (CPI) calculations:
Figuring out how much it would cost to make as many people see the brand through ads is important. We calculate this by guessing how much money it would take if the brand had to pay for the same amount of attention it’s getting naturally. It helps give a money value to the brand’s popularity.
Brand monitoring services:
Use special services to keep an eye on where and how people are talking about the brand in the news or online. These services help businesses understand how many people know about the brand and how much it’s being talked about.
To see how much people talking about the brand helps the business, we can use something called “attribution modeling.” This means we follow how people go from hearing about the brand to buying something. It helps figure out how much talking about the brand helps make sales.
Survey and feedback analysis:
Ask customers what they think about the brand by doing surveys or other ways to get their opinions. This helps understand how much talking about the brand affects what customers think and do. Looking at both numbers and what people say gives a full picture.
Compare how well different things are doing when people talk about the brand, like campaigns or different times. This helps find out what works best and what can be better in how the brand is talked about.
Customized EMV formulas:
Make a special way to figure out how much it helps the business when people talk about the brand. This way should be made just for that business and take into account things like how many people buy things, how long they keep buying, and other important numbers.
Why is earned media value important for brand awareness?
Earned Media Value (EMV) is really important for businesses that want more people to know about them without paying for ads. Knowing about EMV helps businesses see how much it helps when people talk about them and when others say good things about them. It’s like when your friends tell you about a cool game, and then you really want to play it too!
- Credibility and trustworthiness
- Extend reach and exposure
- Cost-effective visibility
- Consumer engagement
- Global and local recognition
- Marketplace differentiation
- Consumer advocacy
- Adaptability and agility
- Measurable impact
- Building a positive narrative
Credibility and trustworthiness:
When people who are not paid, like reporters, famous people, or happy customers, talk about a brand, it’s seen as more real and trustworthy than when the brand pays for ads. This makes everyone trust and believe in the brand more because it’s like getting honest recommendations from friends.
Extend reach and exposure:
EMV helps a brand reach more people, not just the ones it talks to directly. When the brand is talked about in a good way in the news, on social media, or by famous people, it’s like a big splash that makes more and more people notice and know about the brand.
EMV is a smart way for a brand to be seen by a bunch of individuals without burning through a lot of cash. Rather than paying for advertisements, the brand gets seen on the grounds that it’s great, and individuals like it. This is a decent way for the brand to turn out to be notable without burning through an excess of cash.
When people talk about a brand on their own, it can get everyone else interested and talking too. It’s like when your friends share cool things, and then you want to join in and talk about it together. This makes everyone feel connected and part of a group that likes the brand.
Global and local recognition:
Earned media comes from different places – big worldwide news or small community chats. Whether it’s in big magazines or talked about in local groups, it helps the brand get known by lots of people in different places.
In a big market where many brands are competing, EMV helps a brand shine by highlighting its good qualities. When people say good things about the brand or write positive reviews, it makes the brand look really good and makes it noticeable among other brands.
Earned media happens when happy customers tell others about their good experiences with a brand. It’s like when you love a game so much that you tell your friends to play it too. When this happens a lot, it makes more people know about and like the brand, and it keeps growing naturally.
Adaptability and agility:
EMV helps brands join in on what’s popular or important right now. It’s like when you talk about the latest game everyone’s playing. By being part of those conversations, the brand becomes more important, and more people notice it.
EMV is like a special tool that helps businesses see how much people are talking about them in a way that matters. With this tool, they can figure out if lots of people know and like the brand. It also helps them show how much they gain from this attention, making it clear to important people in the business.
Building a positive narrative:
When people say good things about a brand in the news or online, it makes everyone think the brand is great. This positive talk creates a good impression and makes people believe in the brand’s messages even more.
What strategies boost earned media value?
To enhance earned media value (EMV), businesses can employ various strategic approaches that leverage organic visibility and positive endorsements. These strategies aim to maximize the impact of word-of-mouth marketing and third-party recognition.
- Quality content creation
- Influencer partnerships
- Engagement on social media
- Media relations and press outreach
- User-generated content campaigns
- Participation in industry events
- SEO optimization for visibility
- Timely and reactive campaigns
- Community engagement initiatives
- Interactive and shareable campaigns
- Monitoring and analytics
- Employee advocacy programs
Quality content creation:
Make really cool and interesting stuff about the brand that people will want to share with their friends. These could be exciting stories, helpful articles, or things that look awesome. When people like it, they’ll share it on social media and talk about it, making more and more people notice and know about the brand.
Team up with cool and popular people who know a lot about the brand’s type of stuff. These influencers can help lots of people see and like the brand by talking about it and saying good things about it.
Engagement on social media:
Talk and play with people on social media! Answer their comments, join their chats, and share things they make about the brand. This makes everyone feel like they’re part of a group that loves the brand, and they’ll want to tell others about it.
Media relations and press outreach:
Make friends with reporters, bloggers, and news places. Tell them exciting news and stories about the brand so they’ll write good things about it. When you have good relationships with these media friends, it helps the brand get talked about in a positive way.
User-generated content campaigns:
Ask customers to make and share their own cool stuff about the brand. When they share their stories and say good things, it becomes a powerful way for more people to know and like the brand.
Participation in industry events:
Join in on conferences and events about the stuff the brand is good at. When the brand’s people talk at these events, it makes everyone think the brand knows a lot and is really good. This makes news and other good stories about the brand more likely.
SEO optimization for visibility:
Make the brand’s online stuff friendly for search engines like Google. When this happens, it makes it easier for important people like news places and cool influencers to find and talk about the brand.
Timely and reactive campaigns:
Keep an eye on what’s popular and happening right now. If the brand quickly does something related to what everyone is talking about, it makes more people notice and talk about the brand too.
Community engagement initiatives:
Get involved with the people nearby by supporting events, making friends, and joining community activities. When the brand is a good friend to the local community, it can lead to news stories and make people think even better about the brand.
Interactive and shareable campaigns:
Create fun activities that make people want to join in! Things like contests and polls are like games that everyone can play and talk about on social media. This makes more and more people see and know about the brand.
Monitoring and analytics:
Use special tools to keep an eye on how well people are talking about the brand. Look at numbers like how many people know, how much they like it, and what they say. By doing this often, the brand can make its plans even better and smarter.
Employee advocacy programs:
Ask the people who work for the brand to be like cheerleaders. This means they tell others good things about the brand. When everyone in the brand team does this, it makes the brand look even better.
Are social media platforms effective for earned media value?
Social media is super important for creating earned media value (EMV) for businesses. Using the fun and sharing features of social media helps the brand get noticed naturally, makes people interested, and says good things about it.
- Audience engagement and sharing
- Influencer collaborations
- User-generated content (UGC)
- Hashtag campaigns
- Real-time engagement
- Social listening tools
- Shareable visual content
- Community building
- Platform-specific strategies
- Social sharing buttons on content
- Analytics and insights
Audience engagement and sharing:
Social media is a great place for fun things you can play with! When people join in by liking, answering polls, or playing contests, it makes more people see and know about the brand. This can also make the brand more valuable.
Social media is like a stage where cool people called influencers can talk about and recommend a brand. These influencers have lots of friends who listen to them. When they say good things about the brand, it makes more people notice it, making the brand more valuable.
User-generated content (UGC):
Social media is like a big playground where customers can share their stories and experiences about a brand. When they do this on places like Instagram or Facebook, it creates real and cool content that makes the brand even more valuable.
Hashtags are like magic words that make fun and exciting campaigns on social media. When people use these magic words, it makes everyone join in, share things, and have fun together. This magic helps the brand get noticed and talked about by lots of people.
Social media is like a big chat room where businesses can talk with people right away. When businesses join in on what everyone’s talking about, it makes more people notice and talk about them too.
Social listening tools:
Use special tools to listen to what people say about the brand on social media. When the brand talks back in a good way, it makes people think even better of it and can make the brand more valuable.
Shareable visual content:
Pictures and videos are like superstars on social media! When we make really cool ones, it makes more people want to share them. This makes everyone notice the brand more, like when a funny cat video becomes really popular.
Social media is like a clubhouse where everyone who likes the brand can hang out. When the brand talks with friends there, listens to what they say, and makes them feel like they belong, it makes them want to tell others how much they like the brand. This makes the brand more valuable in its special clubhouse.
Think of social media platforms like different playgrounds, each with its own games and friends. Making special content for each playground means more kids will want to play and talk about the brand there. This makes the brand really popular and liked by many different groups of friends.
Social sharing buttons on content:
Put special buttons on the brand’s website and other online stuff that make it easy for people to share with their friends on social media. This makes more people see and talk about the brand, making it even more special.
Analytics and insights:
Social media has tools that help businesses see how well their posts are doing. They can check how many people see, like, and share the posts. By looking at these numbers, businesses can figure out what works best and make their plans even better.
Social media lets businesses join in on what everyone is talking about. When the brand talks about things that are popular right now, it makes more people notice and talk about the brand too. This can make the brand more valuable.
What challenges do businesses face in maximizing earned media value?
Getting people to talk about the brand for free (earned media) is great, but it can be tricky for businesses to make sure it’s as awesome as possible (earned media value or EMV). Fixing these challenges is really important to make sure the brand becomes really popular and has a big impact.
- Measurement and attribution difficulties
- Subjectivity in valuation
- Maintaining consistent messaging
- Navigating negative publicity
- Over reliance on paid strategies
- Adapting to algorithm changes
- Competing for attention
- Limited control over narrative
- Resource allocation
- Short attention spans
- Evolving consumer behavior
- Global vs. Local relevance
Measurement and attribution difficulties:
One big challenge is figuring out exactly how much good stuff talking about the brand for free (earned media) does. It’s hard to know for sure what good things happen because of it, making it tricky to say exactly how valuable certain mentions or stories about the brand are.
Subjectivity in valuation:
Deciding how much money talking about the brand for free (earned media) is worth can be a bit like guessing. People use different ways and tools to figure it out, so it’s hard for everyone to agree on the same way.
Maintaining consistent messaging:
Making sure everyone says the same good things about the brand on different places like news or social media can be hard. If they say different things, it might confuse people and make the brand less special.
Navigating negative publicity:
When people say not-so-good things about the brand for free (negative earned media), it can be tough. Fixing this and making people think good things again needs a smart plan to make sure the brand stays awesome.
Over reliance on paid strategies:
Finding the right mix of paying for ads and getting people to talk about the brand for free (earned media) can be tricky. If a business only uses ads and doesn’t focus on getting talked about naturally, it might not feel as real and special to people.
Adapting to algorithm changes:
When social media changes how it shows things, it can make it harder for people to see posts about the brand. To make sure more people still notice, businesses have to keep changing how they talk about the brand to fit these new rules.
Competing for attention:
There are a lot of things for people to look at and read in the media these days. Making the brand stand out and get noticed is tricky because there’s so much other stuff competing for people’s attention.
Limited control over narrative:
When people who aren’t part of the brand talk about it (earned media), the brand doesn’t have much say in what they say. To make sure they say good things, the brand needs to be smart about managing how people see it and talk about it.
For businesses with not a lot of money to spend, making people talk about the brand for free (earned media) can be tough. It needs a lot of work in making friends, creating cool stuff, and keeping an eye on what’s happening.
Short attention spans:
Because people nowadays quickly lose interest and see a lot of things, businesses find it hard to make content that grabs attention fast and keeps people interested. This is important to make sure more people notice and remember when they talk about the brand for free (earned media).
Evolving consumer behavior:
To make sure people still like the brand, it’s important to know what they like and how they like to learn about things. This means always watching and changing how the brand talks to people so that it stays interesting and cool.
Global vs. Local relevance:
For businesses with friends all around the world, making sure everyone likes the brand can be tricky. It’s like figuring out how to talk to friends from different places so that everyone understands and likes it. This takes some thinking and planning.
Making lots of people talk about the brand for free (Earned Media Value or EMV) is both tricky and exciting for businesses. It’s like a big puzzle in today’s world of ads and news. Even though getting talked about for free can be really good, businesses also have some hard parts to figure out to make it as awesome as possible. Figuring out how much good stuff happens when people talk about the brand for free (earned media) can be tricky.
Some people might see it as more special than others do. Tools that help understand this better are really important. Also, making sure everyone says the same good things about the brand, especially when some people say not-so-good things, needs a smart plan. It’s also hard to decide how much to pay for ads versus getting people to talk about the brand for free. Changes in how social media shows things and many things happening simultaneously make it even more complicated.