How cross-border e-commerce brands can calculate the media value won from overseas influencer marketing campaigns
Calculating media value from overseas influencer marketing for cross-border e-commerce brands
****First of all, what is Earned Media Value (EMV)?****
Earned Media Value (EMV) has long been used in the field of public relations to help track and analyze the value of brand stories that are featured in newspapers, websites, magazines, or television without any media spending. Therefore, it is an estimate of exposure and recognition value that can be obtained without spending any media capital.
In the field of digital marketing, EMV is mainly used to discuss social content, and how much impression or engagement (likes + comments) organic social content has brought to your business — from your own or third-party social channels (such as influencers) in China and what is the estimated value for your business?
EMV can also help brands set benchmarks for different types of social content and channels, so they can make wise decisions on marketing and public relations budgets based on EMV metrics.
How to use EMV to evaluate your overseas KOL marketing activities?
Some overseas brands like to give free products or gifts to overseas KOLs, or invite them to participate in special release events. They hope that KOLs will test the products or participate in the activities, then create some amazing content and share them on all their channels — without charging any fees other than the cost of the provided products.
In addition, overseas KOLs like to create their own product reviews or trailers, providing their audience with their fair opinions on new products — especially in the fashion and beauty industry.
In both of these cases (gift-giving activities or independent KOL product reviews), it is difficult to measure the return on marketing investment of this activity because the brand did not directly pay for the content. This is where EMV can really help brands understand the impact of this free social content — and help guide future strategic marketing decisions, such as which influencers are worth working with, or which social channels and formats can bring the most value to your business.
Different Methods for Calculating EMV
Calculating EMV can help overseas brands understand the effectiveness of influencer marketing. Below are several different methods for generating EMV metrics based on the marketing KPI of overseas promotion:
1. Impression EMV
If your goal is to increase brand awareness, tracking and calculating Impression EMV is a good starting point. First, you need to set an effective “Impression CPM” (cost per thousand impressions), which can be based on your known digital media rates or analyzing previous cooperative influencer marketing campaigns. Then, overseas brands can calculate Impression EMV by multiplying the Impression CPM by the provided free impressions/1,000.
2. Engagement EMV
If engagement is more important to the overseas brand’s marketing strategy, you can also track Engagement EMV. As before, set an engagement CPM based on your previous marketing data and multiply the engagement CPM by the provided free engagement (likes + comments)/1,000.
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