How Kolsquare's updated EMV formula will affect your campaigns

So, how does Kolsquare calculate its new EMV formula?

Kolsquare has made two key changes to EMV. First, we have changed how we judge impressions and reach for Instagram Posts and Stories. This will affect EMV downstream. Second, there are changes to EMV calculations that will affect estimates across all platforms.

Let's explore this in-depth.

The science of estimating Instagram reach and impressions  

Instagram hides impressions and reach data for both Posts and Stories. This makes reporting on Instagram campaigns challenging.

At Kolsquare, we carefully estimate these values to give you performance insights. However, the Instagram algorithm changes often, and we need to adjust the calculations. The latest surveys found that we underestimated Post impressions and overestimated Story impressions.

Now, we've updated the measurements.

We based the new formula on deep analysis and linear regression (finding trends between independent and dependent datasets). This research informed us that some previous data points, such as engagement rates, credibility scores, and deliverability scores, do not clearly correlate with reach and impressions.

The new calculation instead focuses on the number of followers and the KOL typology. Here, typology refers to influencer categories based on follower counts, such as micro or mega-influencers.

Here's the updated formula:

• Estimated Impressions = Number of Followers x Impressions index for the KOL typology
• Estimated reach = Estimated Impressions x Reach index for the KOL typology

Below is a more granular look at the data.

Instagram Posts:

Instagram Stories:

The updates will have a knock-on effect on the EMV scores for Instagram Stories and Posts.

An in-depth explanation of the new EMV calculation

Kolsquare’s EMV calculation is based on the Ayzenberg Earned Media Index. It's grounded in platform data, industry research, and proprietary algorithms.

What is the Ayzenberg Method of EMV, and why do we trust it?

The Ayzenberg Group is a marketing and advertising agency. It is part of the umbrella company a.network, which also includes the Social Index. This subsidiary company "provides marketers with industry-leading benchmarks to measure the earned media value of influencer, content marketing, PR, organic, and paid social media campaigns."

The Ayzenberg EMV Index was first launched in 2016, and it's now an industry leader.

Here's how it works:

1. Social media metrics: It assigns a monetary value to metrics such as likes, comments, shares, and views. This, in turn, allows Ayzenberg to estimate EMV for promotional posts. It also considers brand sentiment, reach, and audience demographics.
2. Platform-specific indexes: Each platform, such as Instagram, TikTok, and YouTube, has unique engagement patterns and user behaviours.
3. Summing it up: These data points are then combined to create the EMV score for brands' influencer partnerships.

Values for each data point, such as likes or comments, are changed daily depending on demand. However, the EMV value is set based on the date the content was posted. This ensures reports are as accurate as possible. What are the values for each metric?The outdated calculation, which ran from September 2023 until January 2025, resulted in much lower EMV numbers.Here are the outdated values (in USD) assigned to each metric:

These are the updated values as of January 20, 2025, also in USD:

* Data ignored as irrelevant on the platform

As you can see, numbers have shot up by around 30% across the board.

Pro Tip: The EMV of Instagram Posts will increase slightly more, while the EMV of Instagram Stories will increase slightly less. This is due to the changes in how we measure reach and impressions.

What is the earned media value benchmark?

As you probably know, earned media value is an estimated figure used to quantify the market value of an influencer collaboration. It gauges how much it would cost to launch a paid media campaign with the same level of exposure,

Put simply, it assigns monetary values to metrics like likes, comments, views, and impressions to assess the financial impact of brands' influencer campaigns.

How is EMV used to measure influencer marketing success?

EMV estimates the value of an influencer campaign. It is often used to measure and benchmark less tangible awareness campaigns.

On the Kolsquare platform, we also show the value on influencer profiles to give you an idea of the exposure you can gain from them. Here, you can also check EMV scores for past collaborations with the KOL. Simple search

Here's how brands use EMV:

1. Measuring campaign effectiveness: EMV is a key metric for assessing the success of influencer campaigns. It indicates the value generated through brand collaborations, helping marketers determine which campaigns delivered the best results.
2. Benchmarking performance: By comparing EMV values across campaigns, platforms, or time periods, brands can identify trends, evaluate strategies, and refine their approach to influencer partnerships.
3. Justifying budgets: EMV allows marketers to explain the value of influencer marketing and organic conversations to stakeholders. This is particularly valuable for securing budgets and resources for future campaigns.
4. Optimising strategies: EMV helps you identify the influencers, content types, and platforms bringing the best results. The faster you pinpoint top performers, the faster you can improve campaigns for maximum impact.

Want to know more? Check out our in-depth guide to EMV, which includes expert opinions and recommendations.

The growing importance of influencer marketing

The recent updates to Kolsquare’s EMV metrics reflect a broader trend of increasing value in influencer marketing. Kolsquare's 2024 State of Influencer Marketing Report found that 84% of brands running influencer campaigns expect their budgets to increase by at least 10% in the next year.

Despite controversies, social media is still prevalent. Platforms like Instagram and TikTok continually refine their algorithms to keep users engaged. And they're undeniably addictive. In fact, people are spending 2 hours and 20 minutes on social media every day. This boosts the impact of influencer campaigns and drives higher EMV values.

In addition, trusted influencers can connect with even hard-to-reach audiences. Their recommendations and the organic content they inspire shape purchasing decisions.

These benefits draw brands to social media. As the channel matures, fresh tactics arrive that better engage users. For example, in the past year, pop-up events and user-generated content campaigns have become more popular.

What is the network Earned Media Value Index?

The Ayzenberg Group and Social Index are part of the a.network. Therefore, the network EMV Index could refer to the indexes created by these companies.  

Network EMV may also refer to the total EMV from campaigns across an entire platform or network. It aggregates engagement social metrics such as impressions, likes, shares, and comments, assigning each a monetary value to estimate their overall marketing impact. This allows brands to compare their influencer campaigns on a platform with traditional campaigns.