Many of us have wondered what a post is truly worth. Now, with the new EMV formula, you can see the Engagement of any brand’s Facebook and Instagram posts in dollars.
The EMV (Earned Media Value) index is the industry standard for dollar valuations of social media content furnished by Social Index. Learn more about the EMV formula here.
To use this formula, head to Settings > Engagement, select the network and choose the EMV formula.
Please note that dollar valuation Engagement is available only for posts published after April 23, 2019. For posts before that, you’ll see the Engagement as 0.
Once you choose this formula, you’ll see that the Engagement metric throughout the app will be depicted in dollars. Check out this Starbucks post in the Brand Post tab under Analyze Profiles. Apart from this tab, you’ll also see changes under Campaigns.
You’ll also see changes in Compare under the Brand Posts, Share of Voice and Campaigns tabs. Here’s the Engagement over a period of time for 4 brands from the Food and Beverage Industry.
The EMV index formula not only tells you the monetary worth of a post but also gives you a sense of what your future social media budget should be. For example, it’s possible that a post with zero social spend behind it might be doing better than a promoted post. Take a closer look at posts with higher dollar Engagement to see what elements can be implemented in other posts.