Social Media Value, or SMV, is a framework for putting a dollar amount on every engagement, Like, Comment, Impression, Video View and other key metrics for a campaign.
These dollar amounts come from a "Paid Social Media Value" where we compare the values (ad buying to the cost of paying a creator to reach their audience / social media following) and the cost of obtaining those resulting key metrics using paid media.
The Paid Social Media Value comparison is through the Facebook Ads Manager since the platform is responsible for 84% of digital advertising dollars. We collected data across Instagram, Instagram Stories, and Facebook to optimize four main KPI's: Click, Impressions, Video Views and Engagements.
Below are the values for each of the social platforms.
When a campaign does not have authenticated social accounts or manually entered data available for a creator, we predict and calculate their multipliers through the practice of using historical benchmarks to estimate Reach and Impressions.
Along with this, we use Projections to take a snippet off the estimated Reach and Impressions. This is done by multiplying those estimated metrics by the Projection percentage (defaulted at 80%).
For example – a creator has 1,000 followers and the Impressions multiplier is 10%. Their estimated Impressions would be 100. The projection would be 100 * 80% or 80 Impressions.
These predictions can be visualized in the Campaign Planner.
💡 Tip: You can adjust these defaulted values and multipliers in your team's Network Settings. Feel free to view the How To Update Multipliers & Social Media Values in Your Network Settings article for more info!
Have questions? Don’t hesitate to contact us!